This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Boom over for homebuilders
Its déjà vu all over again for UK homebuilders, as Mark Carney's comments about re-focusing the Funding for Lending scheme on businesses resonate with traders. The booms days for the sector are coming to an end.
Rio Tinto announced the closure of its alumina operation at Gove as a continuation of its cost-cutting programme.
The eurozone is beginning to see light at the end of the tunnel after S&P raised its economic outlook for Spain. Ireland is due to exit the bailout scheme next month which could make the Greeks green with envy.
Stock markets awake
The US stock market is gradually waking up from its slumber; a far cry from the frantic scenes witnessed in shopping malls today where bargain hunters have been out to take advantage of Black Friday. Retail stocks are outperforming the index as consumers snap up discounted items on the biggest shopping day of the year.
The focus for December will be on the Federal Reserve meeting on the 18th; the fear of tapering might curtail the Santa rally.
Gold catches Black Friday buzz
The Black Friday bargain hunting frenzy has crept into the gold market, as some traders feel the metal is oversold.
FX market directionless
The US is meandering between positive and negative territory against most major currencies, as most dealers are taking a long weekend.