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Sunday, October 12, 2008

BetOnMarkets Morning Report

The FTSE currently indicates a very strong open as traders disseminate the events of the weekend. Following the trend started in Britain, EU will pump billions of dollars to stabilize the EU banks in exchange for shares in the companies. The futures are indicating that traders are excited about this turn of events. The European equity markets are indicating opening the trading week up more then 5%.

Oil prices rose from their 13 months lows, on the news of the European bailout. Many analysts speculate that the action by European leaders to prevent the regions major lenders from collapsing, may help slow credit market turmoil that threatens to stall the global economy. Currently oil is trading at around the 80 dollar mark, however there is a strong chance that the price per barrel will end up in the low 70s before stabilizing.