Good morning Margaret,
It is quite nice notonly enjoying a morning cup of coffee but to find that most mornings, there is a friendly well wish from you here on this thread.
The markets when open today may enjoy a kind of euphoric rally which I mentioned yesterday and over night it looks like the markets in Asia, Germany and London have scored impressive rallys.
Monday November 17, 4:34 am Eastern Time
FTSE 100 opens sharply higher after Asia rally
LONDON, Nov 17 (Reuters) - The UK's FTSE 100 index opened sharply higher on Monday, buoyed by a rally in Asian markets and tracking huge gains in FTSE futures.
Most dealers were taken by surprise when the leading index jumped, shortly after opening at modestly higher levels.
The violent move was explained by the December FTSE future contract opening with a 180-point premium to fair value, estimated about 26 above cash, dealers said.
By 0857 GMT the FTSE 10 was up 2.5 percent, or 119 points, at 4,861.6.
After the initial bounce, the futures sunk back to be trading just ten points above fair value.
''This took us completely by surprise,'' said one dealer. ''We were always going to be better on the back of Japan, but we went from being 30 points to 130 points up on the back of the futures.''
Traders said activity was thin as investors waited for the market to settle before dipping their toes in.
''Things are a little steadier now and I expect it will turn out to be a typical Monday with very little underlying business going on,'' one said.
-- POSSIBLE LOST DATA --
\000 The Nikkei scored its largest single-day point gain of the
year, rising 1,200 points. Share prices rose on the perception that authorities were ready to take action to help the ailing financial sector.
It should be an interesting day with some of the recent tensions possibly being calmed in Iraq.
Have a nice day and
Warm Regards
Frank |
