Ocado Deal Sees the Morrisons Spread Betting Market Hit Record Highs
Posted on | May 17, 2013 | No Comments
European spread betting markets have slipped back this morning following last night’s late US sell-off.
Investors are struggling to tear themselves away from Beckham eulogies, with little of substance on the macro radar other than Michigan sentiment this afternoon to indicate any particular directional bias.
Even allowing for this morning’s slight weakness, equities continue to be fairly resilient.
This is despite further disappointing US data yesterday and increasing uncertainty regarding the tapering of bond purchases following comments from San Francisco Fed President John Williams.
Ocado has finally delivered on the rumours of a tie up with Morrisons, sending the stock soaring to all-time highs in a case of buy the rumour buy the fact.
The £216m deal sees Ocado supply the logistical infrastructure to the UK’s fourth largest grocer.
The move that is certain to rile its main client Waitrose, whose Managing Director, Mark Price, has already announced intentions to investigate the legality of the deal in light of its own supposed exclusivity agreement with the firm.
One of the big losers of the day so far is Intertek Group who sunk below the psychological 3300 level, down almost 5%, on news that its operating profit has narrowed considerably compared to last year.
It’s the biggest decline in the share price in 14 months as the consumer-goods testing company reported that profit will continue to drop in the second half of the year.
In light of a mixed Q1 trading report, John Menzies shares are also offered lower with the company citing reduced cargo volumes in its aviation business. The firm also noted a dip in its newspaper and magazine distribution company following an exceptional 2012 for the 180 year old firm.
Another stock on the slide is FLSmidth in Denmark who are down 5.5% after announcing a net income of 37 million krone in the first quarter which falls well short of market expectations.
They blame market uncertainty, general customer hesitation and a lack of efficiency within the company.
Although present trading remains reasonably robust, the management outlook for the second half of the year is resoundingly bearish and shares spread betting investors will have to batten down the hatches in the short term.
Please remember that Spread Betting, FX and CFDs are leveraged products and carry a high level of risk to your capital. It’s possible to lose more than your initial investment. These products may not be suitable for all investors, please ensure you understand the risks involved and seek independent advice if necessary.
Spread Betting, FX and CFD comments by Michael Hewson, Market Analyst, CMC Markets.
The above should not be construed in any circumstances as a recommendation or offer to sell or recommendation or solicitation of any offer to buy any security or other financial instrument.
Neither CMC Markets nor Spread-Betting.org warrant or represent that the material is accurate, complete, not misleading, or fit for the purpose which it is intended and it should not be relied upon as such.
Aviva Spread Betting Market Rallies amid Upbeat Q1 Earnings
Posted on | May 16, 2013 | No Comments
Equity markets have largely held their levels this morning, propped up by positive sentiment over recent earnings announcements and growing confidence that central bank policy will remain accommodative in the medium-term.
Aviva are leading the blue chip index, up almost 5% after reporting an 18% surge in new business during Q1 that fed stronger earnings during the period.
Private equity group 3i are down despite upping their cost reduction targets, as a smaller than expected growth in reported net asset value disappointed investors early on.
Telecoms group, TalkTalk trade over 6% higher after reaffirming targets for 2013 and offering positive wording on the outlook for their business. Bank of America warmed to the statement and are bullish on the stock.
Building supplies specialist Travis Perkins have also gone better bid despite reporting a fall in sales as construction activity slowed during the winter cold snap. The group are confident of recovering the ground later in the year and reaffirmed their targets for FY13.
Electronics retailer Dixons see their stock climbing to 4-year highs this morning after earnings beat average estimates, with tablet sales being a key revenue driver.
The shares spread betting market is up over 6%, though with a forward PE in the 30′s and the consumer environment in the UK still mixed, it would take a strong nerve to go piling in at these levels.
European CPI data arrived in line with expectations at 10:00, so eyes turn to the US measure at 13:30, along with Housing Starts data and the key Jobless Claims measure, as spread betting investors seek impetus for the next push higher.
Please remember that Spread Betting, FX and CFDs are leveraged products and carry a high level of risk to your capital. It’s possible to lose more than your initial investment. These products may not be suitable for all investors, please ensure you understand the risks involved and seek independent advice if necessary.
Spread Betting, FX and CFD comments by Michael Hewson, Market Analyst, CMC Markets.
The above should not be construed in any circumstances as a recommendation or offer to sell or recommendation or solicitation of any offer to buy any security or other financial instrument.
Neither CMC Markets nor Spread-Betting.org warrant or represent that the material is accurate, complete, not misleading, or fit for the purpose which it is intended and it should not be relied upon as such.
Shares Spread Bets: Easyjet Outperforms as H1 Losses Decline
Posted on | May 15, 2013 | No Comments
Flash GDP estimates from Germany and France underwhelmed the markets early this morning, missing analyst estimates as the fog refuses to clear from the Eurozone economy.
With recovery optimists so dependent on the occasional glimpse of sunlight from Germany, their miss was particularly disappointing.
Whilst European Shares spread betting markets have generally eased back as a consequence, UK bluechips are largely flat in early trade as a slew of positive earnings updates buoyed investor sentiment.
Top of the leader board are budget carrier EasyJet, who provided positive guidance for the year after successfully tapering losses in H1. Revenues were driven by strong demand for flights from the UK as Brits sought to escape the extended winter chill.
In a similar vein, TUI Travel are trading higher after the board outlined a target of $1.3bn in full-year profits, and promised a dividend return to shareholders later in the year.
Property giant Land Securities saw their stock trading at fresh 4-year highs at the open as the net asset value of their portfolio rose to 903p per share (circa 95%) and rental vacancies decreased during the quarter.
With several high profile development projects in the offing for the remainder of the year, shareholders will be hopeful of further growth over during 2013.
Shares in the London Stock Exchange have also found support as Q1 earnings beat expectations on strong revenues. CEO Xavier Rolet also offered encouraging guidance on the recovery in the IPO market that will potentially have positive consequences for the group later in the year.
Restaurant Group have managed to overcome the difficult consumer environment in the UK to deliver impressive revenue growth that leaves them seeking aggressive expansion over the remainder of the year.
Up to 35 new restaurants are currently planned, inspiring renewed optimism amongst investors who have sent the share price to all-time highs this morning.
Less impressive numbers from ITV, who are pessimistic about advertising revenues in Q2, and Wood Group, who saw costs overrun on key projects during the period, have taken the steam out of their respective share prices.
Nevertheless, an unexpected fall in the UK unemployment rate rounded off what has generally been a good news morning in the UK.
Eurozone group GDP estimates at 10:00 will likely disappoint given the constituent numbers we saw pre-market, and attention will turn to Producer Price Index and Industrial Production data due from the US this afternoon.
Cisco, Deere and Macy’s are all due to report earnings later today, and bulls will be hoping for a continuation of the corporate tone set in this morning’s session.
Please remember that Spread Betting, FX and CFDs are leveraged products and carry a high level of risk to your capital. It’s possible to lose more than your initial investment. These products may not be suitable for all investors, please ensure you understand the risks involved and seek independent advice if necessary.
Spread Betting, FX and CFD comments by Michael Hewson, Market Analyst, CMC Markets.
The above should not be construed in any circumstances as a recommendation or offer to sell or recommendation or solicitation of any offer to buy any security or other financial instrument.
Neither CMC Markets nor Spread-Betting.org warrant or represent that the material is accurate, complete, not misleading, or fit for the purpose which it is intended and it should not be relied upon as such.
Severn Trent Spread Betting Market Rallies amid Kuwait Investment Office Approach
Posted on | May 14, 2013 | No Comments
Whilst blue chip stocks generally struggled to hold onto early gains this morning, water services group Severn Trent were flying high after receiving an initial approach from a consortium including the Kuwait Investment Office.
Whilst the potential bidders have made clear that a full approach in not certain, the market reacted with excitement to the news, marking the stock up over 15% early on. Sector peer United Utilities enjoyed some read-across support at the open, bid 4% higher.
The broader market malaise is arguably a case of spread betting investors seeking impetus for the next leg up and finding none on what is a relatively quiet news day. The highlight of the session’s economic calendar was the German ZEW Survey, but it failed to inspire a turnaround in the major indices, arriving lower than consensus forecasts.
British Land have edged marginally better after their numbers saw analysts surprised by a higher than expected rise in new leases, though Investec took the contrarian stance, recommending a reduced weighting in the stock to their clients.
Inter-dealers ICAP see their stock performing strongly this morning as full year earnings beat analyst forecasts. The broker was able to cut additional costs during the period, and offered a positive outlook for 2013 after a mixed start to the trading year.
Support services specialists Babcock are also in demand after meeting estimates for full year profits and hiking their dividend. Shares spread betting investors have responded positively to bullish guidance from the board for the remainder of the year, and sent the stock to fresh all-time highs.
With indices stubbornly holding their levels around the recent highs the Sales Trading desk at CMC Markets continues to see clients taking a dim view of equity market strength, with shorts positions accounting for 80% of current flow in the major indices.
Please remember that Spread Betting, FX and CFDs are leveraged products and carry a high level of risk to your capital. It’s possible to lose more than your initial investment. These products may not be suitable for all investors, please ensure you understand the risks involved and seek independent advice if necessary.
Spread Betting, FX and CFD comments by Michael Hewson, Market Analyst, CMC Markets.
The above should not be construed in any circumstances as a recommendation or offer to sell or recommendation or solicitation of any offer to buy any security or other financial instrument.
Neither CMC Markets nor Spread-Betting.org warrant or represent that the material is accurate, complete, not misleading, or fit for the purpose which it is intended and it should not be relied upon as such.
USD/JPY Spread Betting Market Hits 4-Yr High as Yen Decline Continues
Posted on | May 13, 2013 | No Comments
Owing to the UK bank holiday, European markets started last week trading fairly flat with thin volumes to match. Asian shares advanced on the back of better than expected U.S jobs data released on Friday.
The Dow closed above 15,000 on Tuesday for the first time, a significant achievement that highlights the importance of the U.S employment figure to traders. Additionally, the Dax index closed at a record high on Wednesday, with investors seeing better returns from equities than bonds. Bond yields have been driven lower as a result of interest rate cuts from major banks.
Draghi confirmed earlier in the week the ECB’s readiness to cut interest rates further if the economy continues to deteriorate. The dollar quickly made significant gains against the Euro as investors prepare for the possibility of further rate cuts.
The Reserve Bank of Australia also took action by cutting the benchmark interest rate to 2.75%, a record low. Along with better than expected employment data, the rate cut has lifted regional shares.
Economic data remains in a goldilocks range, whereby it is weak enough to warrant continued stimulus, but strong enough to keep earnings expectations positive. With the FTSE 100 having achieved significant gains, adding nearly 12% since the start of the year, the index seemed to finally be stabilising at its multi-year peaks with an upward trend still intact.
In a somewhat contradictory move, the ECB refrained from committing to further interest rate cuts. Draghi made it clear now that we will have to wait until 2015 until the possibility of further reductions. It was only on May 2nd that Draghi declared the ECB’s readiness to act again if required.
The Bank of England also decided to leave interest rates on hold and resisted calls to extend its bond purchases. Policymakers are opting to wait and see if recent initiatives to boost lending will lift the struggling economy.
Japanese shares surged last week on the back of a weakening yen. The USD/JPY market went beyond the 101 level for the first time in 4 years. The yen has now tumbled 23% since September, heading for its biggest annual loss since 1979.
In shares spread betting, Sainsbury’s suffered a slight fall in annual profits amid the intense battle among supermarkets to grow market share. It made a pre-tax profit of £788m in the year to March 16 – down 1.4% on the previous 12 months.
Chief executive Justin King also confirmed he had reached an agreement with Lloyds Banking Group to take full control of Sainsbury’s Bank, at a cost to the chain of £248m.
A revised German trade balance figure for the previous month helped push the Dax over the 8300 level during Friday’s session for the first time. The FTSE rose yet again after better than expected earnings from Arcelor Mittal and BT Group.
Going into this week, investors will be searching for clues as to whether or not the rally seen in the past week or so is sustainable.
You can be certain that many traders will go short of equities and indices hoping that they have entered at the highs, but there is a growing consensus that this could be the start to a long period of growth.
This Week’s Notable Economic Events:
Monday
- USD Core Retail Sales
- USD Retail Sales
Tuesday
- DE German ZEW Economic Sentiment
- AUD Annual Budget Release
Wednesday
- GBP Claimant Count Change
- GBP BoE Gov King Speaks
- GBP BoE Inflation Report
- CAD Manufacturing Sales
- USD PPI
Thursday
- USD Core CPI
- USD Unemployment Claims
- USD Philly Fed Manufacturing Index
Friday
- CAD Core CPI
- USD Prelim UoM Consumer Sentiment
Next Week’s Notable UK Earnings:
Monday
- The Unite Group PLC Interim Management Statement
- Diploma PLC Interim 2013 Earnings Release
- Lonmin PLC Interim 2013 Earnings Release and Q2 Production Report
Tuesday
- British Land FY 2012/13 Earnings Release
- Enterprise Inns PLC Interim 2013 Earnings Release
- ICAP Preliminary 2013 Earnings Release
- Babcock International Preliminary 2012 Earnings Release
- Balfour Beatty Q1 Interim management Statement
- Capita PLC Interim Management Statement
Wednesday
- Compass Group Interim 2013 Earnings Release
- Greggs Interim Management Statement
- Land Securities Preliminary 2012/13 Earnings Release
- Keller Group Interim Management Statement
Thursday
- Vedanta Resources Preliminary 2012 Earnings release
- Euromoney Institutional Investor Interim 2013 Earnings Release
- TalkTalk Telecom Group Preliminary 2012 Earnings Release
- Travis Perkins PLC Interim Management Statement
Spread betting is a leveraged product. It carries a high level of risk to your capital and, as it is possible to lose more than your initial investment, it may not be suitable for all investors. Therefore, ensure you understand the risks involved and seek independent advice if necessary. The tax treatment of spread bets may be subject to change in the future.
Article by Spreadex.
The above should not be construed in any circumstances as a recommendation or offer to sell or recommendation or solicitation of any offer to buy any security or other financial instrument.
Financial Spread Betting Investors Short Indices Despite Record Highs
Posted on | May 9, 2013 | No Comments
The FTSE largely shrugged off mixed Industrial Production data out of the UK at 09:30 as European equities took a collective pause after the frantic optimism of yesterday’s session.
With the UK base rate unlikely to move from 0.5% when the announcement arrives at 12.00, the macroeconomic focus may shift to Jobless Claims data due from the states at 13:30. Focus here is likely, given the variance in employment data we’ve seen in recent weeks from the US.
As we continue to forge new highs, a significant proportion of our client base are establishing shorts in the spread betting indices. These are either in the form of a hedge against long equity positions or as a bet that the ever-widening disparity in risk asset prices and macroeconomic data has reached unsustainable levels.
One of the problems with being short on a market that is breaking all-time highs (aside from the obvious one) is that there is no technically sensible level at which to cut the position – no resistance point beyond which you accept you’re wrong.
If a client takes the view that equities are collectively overvalued with the Dow at 15,000, there’s no logical reason to change that view at 15,300 or 15,500.
When there is no level where you know you’re wrong, trades contrary to general market direction can become an obsession, with financial spread betting convinced that the market ‘must turn around soon’.
The market needn’t do anything of the sort. Retail clients must be wary of this particular pitfall in this bull market environment.
Amongst the top performers this morning are credit giant Experian, who announced a bump in the annual dividend after delivering full year profit in line with market expectations.
The firm also offered optimistic guidance for the coming year and extended their share buy-back programme, prompting traders to send the stock 5% better bid early on.
Investment group, Old Mutual, also see their stock in the green this morning after announcing a 7% rise in funds under management during a positive first quarter. The board outlined its confidence for the coming year as the share price climbs to all-time highs this morning.
In the insurance space, mid-cap Beazley pleased investors this morning with an 11% rise in Q1 premiums to $518m. The analyst community was suitably impressed with their progress, and none of the firms covering the stock recommend selling shares despite an astronomical 35% rise year-to-date.
Aside from Jobless Claims before the opening bell, today also sees the release of earnings updates from Priceline and CableVision, as the market seeks a catalyst to extend its record gains.
Please remember that Spread Betting, FX and CFDs are leveraged products and carry a high level of risk to your capital. It’s possible to lose more than your initial investment. These products may not be suitable for all investors, please ensure you understand the risks involved and seek independent advice if necessary.
Spread Betting, FX and CFD comments by Michael Hewson, Market Analyst, CMC Markets.
The above should not be construed in any circumstances as a recommendation or offer to sell or recommendation or solicitation of any offer to buy any security or other financial instrument.
Neither CMC Markets nor Spread-Betting.org warrant or represent that the material is accurate, complete, not misleading, or fit for the purpose which it is intended and it should not be relied upon as such.
Standard Chartered Spread Betting Market Slumps as Q1 Operating Profit Falls
Posted on | May 8, 2013 | No Comments
With a light macro calendar today, and in spite of positive trade numbers from China overnight, European spread betting indices are pausing for breath this morning as they hold steady around all-time highs.
In a trading update, Standard Chartered reported a decline in Q1 operating profit but a growth in revenue – as usual without providing specific figures and likely missing double digit revenue targets.
The stock was up yesterday after positive read across from the HSBC numbers, the other Asia-focussed UK listed bank, but has given back those gains and more in early trading with the shares off 6%.
With the exception of RBS, who now find themselves down 13% for the year, Standard Chartered share price is now underperforming the rest of the sector and remains flat on the year so far.
The devil is in the detail as Sainsbury’s announces 33 consecutive quarters of like-for-like sales growth and yet still trades down at below 390p. News of rising sales has been dampened by a fall in full-year profits and the sentiment from Chief Executive Justin King that conditions remain ‘challenging’.
We have also had confirmation they will be purchasing the remaining 50% of Sainsburys bank from Lloyds Banking Group, mirroring what Tesco did in 2009.
A similar story persists for another major player in the retail sector as Next Plc reported sales growth of 2.2%, falling in the mid-range of early year guidance. This kept shares spread betting investors’ feet firmly on the ground with a generally cautious tone regarding the overall consumer environment.
Shares in Halfords Group saw an uplift following an upgrade to overweight from JP Morgan Cazenove with a price target revision to 405p. Coming hot on the heels of an upgrade on Tuesday from Barclays Capital, the stock is seen 6% higher this morning and back at levels last seen in June 2011.
The news earlier in the week that the firm intends to start selling cycle clothing in-store has been received well by the market and also no doubt by the hordes of wet cyclists who came past me this morning!
We have had some good trading updates for equities in Europe with shareholders in ING Group NV being buoyed by news that first quarter net income came in at 1.8 billion euros beating projections of 1.48 billion.
EON is trading up 1.5% after posting first-quarter profit that exceeded analysts’ predictions and Deutsche Telekom gaining over 2% having also announced earnings above market expectations.
CMC Markets clients continue to increase short positions in the major indices with the view that the rally to all-time highs on a number of benchmarks is overdone.
Please remember that Spread Betting, FX and CFDs are leveraged products and carry a high level of risk to your capital. It’s possible to lose more than your initial investment. These products may not be suitable for all investors, please ensure you understand the risks involved and seek independent advice if necessary.
Spread Betting, FX and CFD comments by Michael Hewson, Market Analyst, CMC Markets.
The above should not be construed in any circumstances as a recommendation or offer to sell or recommendation or solicitation of any offer to buy any security or other financial instrument.
Neither CMC Markets nor Spread-Betting.org warrant or represent that the material is accurate, complete, not misleading, or fit for the purpose which it is intended and it should not be relied upon as such.
Shares Spread Betting: Man Group Jumps 10% Despite Client Outflows
Posted on | May 3, 2013 | No Comments
With UK PMI Services data arriving slightly above market expectations at 9:30 this morning and Eurozone PPI numbers matching analyst forecasts, attention turns to this afternoon’s Non-Farm Payrolls data.
Spread betting investors will seek insight to the state of the US employment market following last month’s huge miss. Surveys call for a number around 148k jobs added, though whispers of a slightly lower number are again doing the rounds.
Among the headline stocks this morning are Royal Bank of Scotland who saw their share price under heavy pressure early on. This followed news that the government may move to shift its stake in the bank after Q1 saw a return to profitability for the first time since 2011.
The early selling seemed unduly harsh given the earnings beat, but despite rallying from its lows the stock remains down over 5% on the day as the market prices in a potentially huge seller in the medium term.
Also in shares spread betting and enjoying contrasting fortunes this morning are Man Group investors, who saw the stock overcome reported outflows of client money to jump 10% this morning. This came as the board announced plans to reduce surplus capital by buying back stock or paying a special dividend. The news sent the stock to 12 month highs in early trade.
With market focus centred around the NFP number, corporate data is likely to take a back seat, though earnings from Moody’s before the opening bell might spark some interest.
Please remember that Spread Betting, FX and CFDs are leveraged products and carry a high level of risk to your capital. It’s possible to lose more than your initial investment. These products may not be suitable for all investors, please ensure you understand the risks involved and seek independent advice if necessary.
Spread Betting, FX and CFD comments by Michael Hewson, Market Analyst, CMC Markets.
The above should not be construed in any circumstances as a recommendation or offer to sell or recommendation or solicitation of any offer to buy any security or other financial instrument.
Neither CMC Markets nor Spread-Betting.org warrant or represent that the material is accurate, complete, not misleading, or fit for the purpose which it is intended and it should not be relied upon as such.
Spread Betting Markets Soften amid Nervousness on ECB Rate Decision
Posted on | May 2, 2013 | No Comments
European stocks edged higher after the May bank holiday break as PMI readings across the continent exceeded market expectations. Spread betting investors quickly reversed the gains as nervousness over the ECB rate decision due at 12.45 took hold.
Traders seem optimistic about a quarter point cut, though many economists have called into question the effectiveness of such a move with banks seemingly unwilling to lend.
A big earnings day in the UK and Europe has seen fistfuls of stocks making the headlines.
Shareholders of BG Group have arguably had the most fruitful morning, with the stock up over 3% on better-than-expected production and liquefied natural gas profits.
Dealers at RBC see the update as a positive start to the year, and maintain a price target of 1360p.
Fund manager, Schroders, have edged lower despite a rise in Q1 profits and increased assets under management. With the stock up over 30% year-to-date it was always going to take massive numbers to generate further excitement this morning.
Also in the doldrums early on are communications group Inmarsat, who see their stock offered 8% lower on falling net earnings, despite an increase in sales in Q1.
Concerns over the outlook for the solutions arm of the business were highlighted by Bank of America, who cite US budget cuts as a key obstacle to revenues over the remainder of 2013.
Following the ECB decision at 12:45 are US Jobless Claims numbers at 13:30 that will provide further colour on the US employment market ahead of tomorrow’s key Non-Farm Payrolls data.
Dollar-watching forex spread betting investors will be keeping half an eye on Trade Balance data due out simultaneously.
Amidst the key macro data, earnings from AIG, CME Group, Estee Lauder, Kellogg, Kraft will keep equity-focussed traders on the tips of their toes throughout the afternoon session.
Please remember that Spread Betting, FX and CFDs are leveraged products and carry a high level of risk to your capital. It’s possible to lose more than your initial investment. These products may not be suitable for all investors, please ensure you understand the risks involved and seek independent advice if necessary.
Spread Betting, FX and CFD comments by Michael Hewson, Market Analyst, CMC Markets.
The above should not be construed in any circumstances as a recommendation or offer to sell or recommendation or solicitation of any offer to buy any security or other financial instrument.
Neither CMC Markets nor Spread-Betting.org warrant or represent that the material is accurate, complete, not misleading, or fit for the purpose which it is intended and it should not be relied upon as such.
UK PMI Manufacturing Data Boosts Sterling and Shares Spread Betting Markets
Posted on | May 1, 2013 | No Comments
With European equities closed for the May day bank holiday, UK traders sent stocks better bid as strong corporate earnings, optimism over a European rate cut and continued stimulus from the Fed and BoJ contribute to continuing investor optimism.
PMI Manufacturing numbers from the UK at 09:30 added weight to the morning rally, arriving ahead of expectations and sending both Sterling and shares spread betting markets higher.
Amongst the early movers are Antofagasta, who updated the market with numbers before the open that saw quarterly copper output rise 13%, with their key Esperanza mine proving fruitful over the period. The news comes as welcome respite for the firm’s shareholders, with the stock trading down 30% year to date.
In the midcap space, Home Retail traded higher early on after their Argos brand managed surprising sales growth despite the difficult consumer environment.
Early excitement eventually gave way to profit taking, leaving he stock only marginally higher on the day as financial spread betting investors took some money off the table, with the shares testing 2 year highs.
This afternoon’s standout data arrives in the form of the US ADP employment report, due to hit the wires at 13:15. The figure will be closely watched – particularly after the excitement of last month’s Non-Farm Payrolls beat, with this month’s update due on Friday.
On the earnings front, another busy day sees Marriott, Mastercard, Merck, Visa and Time Warner in focus, with the credit card giants under particular scrutiny with the retail environment showing signs of improvement stateside.
Please remember that Spread Betting, FX and CFDs are leveraged products and carry a high level of risk to your capital. It’s possible to lose more than your initial investment. These products may not be suitable for all investors, please ensure you understand the risks involved and seek independent advice if necessary.
Spread Betting, FX and CFD comments by Michael Hewson, Market Analyst, CMC Markets.
The above should not be construed in any circumstances as a recommendation or offer to sell or recommendation or solicitation of any offer to buy any security or other financial instrument.
Neither CMC Markets nor Spread-Betting.org warrant or represent that the material is accurate, complete, not misleading, or fit for the purpose which it is intended and it should not be relied upon as such.