The FTSE is currently indicating a very weak open, as
traders are coming to terms with the failure of the Auto industry bailout.
The London index is not alone in this, equity markets around the world are
all indicating a down day. The day could still be saved especially if the US
retail sales number comes out better then expected.
Oil fell after the auto bail out got rejected by the US congress, as traders
worry that a prolonged recession will reduce demand for oil. While OPEC will
be cutting its output this weekend, the failed bailout is another blow for
those who wish to see oil trade at higher levels
Predicted opens as of 06:00 GMT
FTSE: 4234.2 (-148.3)
CAC40 3203.50 (-97.30)
DAX30 4619 (-134.8)
DOW: 8322 (-242)
SP500 839.68 (-34.75)
Gold: 814.25 (-7.85)
Oil: 45.68 (-1.96)
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