TEMPORARY power provider Aggreko is due to make a trading announcement today, having enjoyed some really good gains in the last three months. Investors will be hoping that the good news continues with the shares trading near all-time highs. CMC Markets offers a spread of 1,883.60p-1,890.43p.
Falling resource prices are doing commodity stocks few favours, with BP having lost almost £1 since the January highs. So long as concerns linger over the health of the global economy, these downside pressures will prevail, but the bargain hunters will be positioning themselves to jump in at the right price. IG Index offers 431.1p-432.1p on BP.
Hospitality group Whitbread has been trending downward since this time last month, as it recently announced that consumer sentiment is declining in line with retail spending. It is due to give a trading update to the market tomorrow, but as last week’s UK retail sales showed the biggest fall in 16 months, it backs up its statement that the public are tightening their purse strings. Ultimately, it could prove a rocky road for Whitbread over the medium term at least. Capital Spreads quotes 1,507.2p-1,510.8p.
The ECB came to the rescue of the euro on Friday, as Germany climbed down on its stance of shouldering a substantial share of the burden of bailing out Greece. The euro rocketed towards the $1.4300 level, but now looks ready to be sold again as it hits a nice level of resistance. Spread Co offers a 0.8 point spread on euro-dollar of $1.42922-$1.42930.
WTI crude oil broke down spectacularly towards the end of last week, as it finally broke out of its month long Fibonacci controlled range. The break of the 61.8 per cent level of the move from $84-$115 at $96.02 saw it tumble as low as $92.15 on Friday morning, before recovering as the market in general recovered. $96 should be good resistance now and should be used as a sell entry point with $90 the target. Spread Co offers July US Crude at $93.74-$93.78.