The FTSE currently indicates a flat opening as traders are trying to figure
out if the London Index can build on the 1.9% gain registered on Tuesday.
With the Japanese and Australian equity markets closing higher today, the
FTSE is likely to start the day in the green. While there is no other
economic news today, the FTSE is likely to spend the rest of the day in a
quiet range.
Oil got a short term boost today as traders were scrambling to close out
their short position before the OPEC meeting. Some of these traders shorted
the oil futures in early September when the price was more then 100 dollars
per barrel. Barring a surprise during this mornings inventory data, oil
should stay below the 45 dollar per barrel mark until the meeting this
weekend.
Predicted opens as of 06:00 GMT
FTSE: 4387.8 (+7.5)
CAC40 3296.80 (+3.50)
DAX30 4778 (+13.2)
DOW: 8823 (+121)
SP500 900.68 (+10.75)
Gold: 779.45 (+3.40)
Oil: 43.34 (+1.41)
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