The FTSE is currently indicating a slightly higher open, as traders are
waiting for the release of the UK retail sales figures. Traders are worried
that if consumers are not going to spend money during the most important
season for retail stores, many of these companies will fail in January. The
FTSE opening price will depend greatly on this economic release. OPEC cut
more then 2 million barrels of oil from its production yesterday, however
prices tumbled as most traders questioned if organization could actually
enforce the production cut. Not helping oil prices is the fact that US
inventories climbed again for the 11th out of the last 12 weeks. There is a
very strong chance that oil prices will trade below the 40 dollars per
barrel level.
Predicted opens as of 06:00 GMT
FTSE: 4320.8 (+18.5)
CAC40 3251.50 (+11.20)
DAX30 4719.8 (+14)
DOW: 8812 (-5)
SP500 902.78 (-0.37)
Gold: 864.30 (-4.75)
Oil: 39.81 (-0.31)
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