Spread betting News Tues Feb 28
Asian Market were up overnight as Crude retreats. Easing the possible threat of a global economy stricken. Copper was up 0.3% . Monday had a Rally after good US Data, Pending Home Sales came in much etter than expected at +1.9% (expected 1.1%) vs prev –1.9%. FTSE close down 19.58 points, or 0.3 percent at 5,915.55, after a late rally broke above 5900. Banks were down. Miners made a late rally. Banks are still in focus as the ECB to conduct a longer term refinancing operation on Wednesday. ECB expected to allot 500 billion. Greece’s debt concerns still remains an issue as S&P downgraded the country’s long-term ratings on Monday. Germany’s Bundestag lower house approved the 130 billion euros. On the other hand Portugal is likely to have a positive assessment for its economic reforms and cost-cutting efforts from the EU.
GLOBAL MARKETS-Asia shares edge up, ECB and oil in focus
* US STOCKS-Falling oil lifts Wall St to highest since 2008
* FOREX-Yen off lows as exporters buy in month-end trades
* TREASURIES-U.S. bonds supported by strong oil, ECB
* Gold hovers below $1,770; ECB funding to support
