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Monday, October 20, 2008

BetOnMarkets Morning Report

The FTSE is currently indicating a flat opening, as traders wait for the release of the UK Rightmove House Prices. A weak number might send the FTSE into the red. Money managers around the world are hoping that the volatility, which plagued the stock markets last week, has come to an end. Currently futures indicate a flat opening to all European equity markets and the FTSE.

Oil rose for a second day, on speculation OPEC will cut output in an attempt to halt a slide in prices, which have fallen more than 50 percent from July's record. The OPEC meeting will be held on the 24th of October. With a possible floor in place for oil prices, we might see a test of the 80 dollars per barrel level as we get closer to the meeting.