As for where to focus, UK banking stocks have so far released bumper results and the broader market has had a good week so far, despite falling from its earlier highs. RBS will not want to miss out on the party, especially after Lloyds announced such good figures on Wednesday. We might see a test of its 2010 highs around 58p before too long. Capital CFDs quotes a price of 51.8p-52.2p.
The FTSE has struggled to break through and above its 200-day moving average, which would be a key indicator of a reversal in trend. Until it does, pressure will remain on the index to the downside as the economic outlook remains uncertain. Capital Spreads quotes a price of 5332.0-5333.0.
Aquarius Platinum has been trading close to its 52-week low since the news last week that it may have to close one of its South African mines for seven months. Watch for moves in the stock price as today’s trading statement gives investors a clearer idea of the outlook and how the company will be dealing with this setback. Cantor Index offers a spread of 272.20p–273.10p
In other mining stocks statements due, today, we also expect Rio Tinto Plc (RIO), which is the world’s third largest mining company, to release its earnings. The firm has been in the news recently for planning to expand operations substantially in Australia. Resistance is expected at 3,500p which coincides with 26 June high whereas support is noted at 3,185p and 2,980p. Spread Co quotes Rio Tinto at 3,388p-3,395p.