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Thursday, September 18, 2008

BetOnMarkets Morning Report

The FTSE is currently indicating a higher opening after the FSA announced that they will be restricting short selling on selected stocks as of September 19th. This restriction should bring some pause to the selling pressure on the financial stocks. The FSA is hoping it will be as successful as the SEC was in August when they restricted short selling in the United States.

Oil spiked above 100 dollars per barrel before settling down around the 98 dollars per barrel level. Lost in all of this, is the fact that oil will post its third declining week. As the dollar gains against the euro, its limiting the appeal of commodities to investors amid forecasts of slowing global demand.