New Financial Website. Try it Now!

Thursday, September 18, 2008

BetOnMarkets - Commodities benefited from the turmoil

The FTSE is currently indicating a higher opening as a buyout of HBOS by Lloyds TSB, has the blessing of the UK government. Sources indicate that the government will seek to waive antitrust restrictions to permit the takeover. Look for other vulnerable companies to get a boost in share price, as traders are counting on cashing in on another takeover.

Commodities benefited from the turmoil in the US equities market yesterday with gold adding more then 70 dollars to its value and oil adding 6 dollars to its per barrel price. We can see gold reaching 900 dollars per ounce before the end of the week, as investors are running for the safe haven that precious metals provided during turbulent times like this week