The FTSE 100 is currently trading marginally below its all time high of 6,930 set in December 1999, just before the infamous Dot com crash and set a 14 year high this morning. The index is currently up 60 points at 6,884 as services data came in strongly in the UK and there was renewed talk of a ceasefire in the Ukraine. The S&P 500 also rose to 2,006, a record for the US index. The FTSE 100 came close to breaching 6,500 just before mid August followed the escalation of events in the Ukraine and reached 6,894 back in May.
httpv://www.youtube.com/watch?v=mgnv3RdKpPE
Day Trading the FTSE
The UK PMI (purchasing managers’ index) came in at 60.5 in August, up from 59.1 in July. Economists had expected it to fall to 58. Any figure above 50 denotes growth. In addition the ONS (Office for National Statistics) issued a report showing annual growth in gross domestic product after inflation has beed increased by 0.1% for the years 1998 to 2012.
Russia’s President Putin has announced a a ceasefire plan for Ukraine, including proposals for an international monitoring force and the establishment of a humanitarian corridor, following a tentative agreement with Ukrainian President Petro Poroshenko. However, the plan looks to be far from being signed and sealed despite the fact that Putin believes agreement could be reached by Friday.
httpv://www.youtube.com/watch?v=ETGIWQgHk-w
Best times to trade the FTSE 100 and Dow Jones
Sentiment was also helped this morning by news from China that HSBC’s China Services sector data increased from 50 in July to 54.1 in August, its highest level since March 2013 helping drive Hong Kong stocks over 2% higher. China’s official non-manufacturing purchasing managers’ index reported a reading of 54.4 in August, an improvement from 54.2 in July.
Contrarian Investor UK
IMPORTANT: The posts I make are in no way meant as investment suggestions or recommendations to any visitors to the site. They are simply my views, personal reflections and analysis on the markets. Anyone who wishes to spread bet or buy stocks should rely on their own due diligence and common sense before placing any spread trade.
by contrarianuk
FTSE 100 comes close to all time high after hitting 14 year high
Sep 3, 2014 at 3:29 pm in Market Commentary by contrarianuk
The FTSE 100 is currently trading marginally below its all time high of 6,930 set in December 1999, just before the infamous Dot com crash and set a 14 year high this morning. The index is currently up 60 points at 6,884 as services data came in strongly in the UK and there was renewed talk of a ceasefire in the Ukraine. The S&P 500 also rose to 2,006, a record for the US index. The FTSE 100 came close to breaching 6,500 just before mid August followed the escalation of events in the Ukraine and reached 6,894 back in May.
Day Trading the FTSE
The UK PMI (purchasing managers’ index) came in at 60.5 in August, up from 59.1 in July. Economists had expected it to fall to 58. Any figure above 50 denotes growth. In addition the ONS (Office for National Statistics) issued a report showing annual growth in gross domestic product after inflation has beed increased by 0.1% for the years 1998 to 2012.
Russia’s President Putin has announced a a ceasefire plan for Ukraine, including proposals for an international monitoring force and the establishment of a humanitarian corridor, following a tentative agreement with Ukrainian President Petro Poroshenko. However, the plan looks to be far from being signed and sealed despite the fact that Putin believes agreement could be reached by Friday.
Best times to trade the FTSE 100 and Dow Jones
Sentiment was also helped this morning by news from China that HSBC’s China Services sector data increased from 50 in July to 54.1 in August, its highest level since March 2013 helping drive Hong Kong stocks over 2% higher. China’s official non-manufacturing purchasing managers’ index reported a reading of 54.4 in August, an improvement from 54.2 in July.
Contrarian Investor UK
IMPORTANT: The posts I make are in no way meant as investment suggestions or recommendations to any visitors to the site. They are simply my views, personal reflections and analysis on the markets. Anyone who wishes to spread bet or buy stocks should rely on their own due diligence and common sense before placing any spread trade.