The FTSE is currently indicating a weak opening after the midnight release of
the RICS house prices. U.K. home sales declined its lowest level in at
least three decades, as the lending freeze pushed down prices for a 15th
month in a row. Although the rate cuts were better then ever, it has not
helped as some banks are not passing on the cut to the customers. The FTSE
should open Tuesday in the red.
Oil yet again finds itself flirting with the 60 dollar mark, as evidence
continues to mount that the major oil consumers are entering what might be a
prolonged recession. Even the stimulus package that was announced in China
had only minimal impact on the price. There is a very strong possibility
that the price of oil could touch the 50 dollars per barrel mark by the end
of the month.
Predicted opens as of 06:00 GMT
FTSE: 4383.3 (-20.62)
CAC40 3460.60 (-41.20)
DAX30 4966.5 (-58)
DOW: 8949 (+73)
SP500 927.03 (+4.50)
Gold: 748.60 (+0.25)
Oil: 60.89 (-1.25)
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