Stock Market Report 23 November 2009

Review of the Week
 
With only six weeks of the year to go, many experts are still trying to predict the end of year levels for all the key indices and start their predictions for 2010.

The FTSE100 began the week at 5,296.38 and remained relatively closing at 5,251.41, a loss of 0.85% over the week. In the US, the Dow was the only index of the big four to post a positive gain, closing up marginally at 10,318.16, a rise of 0.46% having opened the week at 10,270.47.

The story in Asia was very similar to that in the UK with both of the key indices giving up ground. The Nikkei 225 was the biggest loser, giving up 2.79%, to close down at 9,497.68 having opened at 9,770.31.  The Hang Seng also lost ground, closing down at 22,455.84, a loss of 0.43% having opened the week at 22,553.63.

Oil and Gold had mixed fortunes. Oil remained relatively unchanged over the week, trading in the 77 a barrel range. Gold however, continued its meteoric rise to close the week up at 1,142 an ounce, having risen above the 1,150 mark during the week’s trading. Reasons for this surge vary from the continuing weaker US dollar to large inflows of money onto Exchange Traded Funds as investors have sought a safer haven during the continuing financial uncertainty and finally a few concerns around inflationary fears.
 
The Week Ahead

This week is very quiet in terms of company announcements from FTSE100 companies with only the London Stock Exchange and United Utilities bringing new to the market on Wednesday.
 

This data is provided by Andy Parsons, Advice Team Manager at The Share Centre. This is not intended to constitute and offer or agreement to buy or sell investment.
 

Moneyextra.com recommends you take independent financial advice before acting on any article

2009-11-24 09:59:08 © Moneyextra.com