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Monday, November 17, 2008

BetOnMarkets Morning Report

The FTSE currently indicates a slightly weaker opening, as Rightmove House prices are worse then expected and again are reminding traders about the weak real estate market. Most investors are awaiting the release of the UK CPI numbers on Tuesday, worrying that the interest rate cut has unleashed a wave of inflation. The FTSE has a good chance to start the week off on a positive note.

Oil is sliding from the 58 dollars per barrel mark, as news that Chinas largest crude oil producer announced that demand has fallen sharply. Oil traders are worried that the lower demand will push prices below 50 dollars a barrel. We should know if they are right within the next few weeks.

Predicted opens as of 06:00 GMT
FTSE: 4188 (-44.97)
CAC40 3239.30 (-46)
DAX30 4650 (-67)
DOW: 8396 (-79)
SP500 8864.03 (+2.50)
Gold: 742.10 (-11.20)
Oil: 55.92 (-1.08)