BELEAGUERED oil and gas giant BP, which yesterday published a report into the Macondo oil well disaster, received a boost after ratings agency Fitch upgraded it to A status. Will the upgrade offer sufficient impetus for the global energy firm to break its August high of 438p? WorldSpreads offers a spread of 414.4-415.4p.
Weakness in the euro has allowed sterling to recoup some of its recent losses and to climb back towards and even beyond the £0.83 level. Further weakness for the single currency could well follow, to the benefit of sterling. Capital CFDs offers a spread of £0.8215-£0.8217 for euro-sterling.
Renewed uncertainty in the banking sector and fears of a darkening economic outlook is continuing to push traders into the safe haven play that is gold. However we’re closing in on the June 2010 all-time highs of $1,271 per ounce, which could trigger some profit taking. The current IG Index price is $1,255.22-$1,255.72.
Pub chain JD Wetherspoon is expected to break the £1bn sales barrier when it reports tomorrow despite warnings of subdued customer expenditure since the end of the World Cup and poor weather lowering visitor numbers. Changing opening times to catch the morning coffee crowd has helped boost Wetherspoons’ performance. Will the results help the share price continue to rise after it hit year-lows of 378.70p in July? ShortsandLongs.com offers clients a rolling spread of 437.90p-439.70p.
Consumers may have cut their spending in certain areas during the downturn but fashion label Ted Baker seems to have proved resilient to any belt tightening. Its share price rose from 400p a year ago to highs of 571p in April. The stock has risen to around the 550p level a number of times since, so positive results on Friday could mean another test of that resistance level. Spreadex has a rolling spread of 536.1p-550.9p.