Equity Markets set for buoyant start to the Autumn trading period.

Friday’s Non Farm Payroll figures showed that companies in the US employed more people than forecast in August, spurring US stocks to climb, with the Dow completing the end of week session at 10447, up 127 points on the day. This rally further increased confidence on this side of the pond pushing European indices higher, with FTSE 100 index closing up 57 points at 5428, having traded at 5109, just 10 days earlier.

Trading volumes have been relatively low this August; however since September arrived, interest and particularly buying activity has been prominent amongst ProSpreads’ high net worth client base.

This weekend’s news of BP’s woes hopefully coming to an end is also likely to kick start more buying next week with significant gains in global equity markets likely in the first half of the month.

The rallying equity markets last week also precipitated in lower treasury prices, a move welcomed by many of the professional traders at ProSpreads, who have been accumulating short positions in treasuries for some time now.

Advertisements

About Simon Brown
Simon Brown has over 20 years experience trading Derivatives on everything from Gold, FTSE to Dollar/Pound. Simon has lectured in Trading Psychology, Strategy and Technical Analysis, in addition to regular appearances on CNBC television. He is now Managing Director of ProSpreads.

Comments are closed.

%d bloggers like this: