THE TIPSTER
US PRESIDENT Obama’s plans for the banking sector are expected to continue to dominate this week and put further pressure on banks’ share prices across the world. This might make it well worth taking a short out on the UK banking sector. IG Index is offering a spread of 4,466-4,486.
But downward pressure on share prices could create some good buying possibilities for opportunistic spread betters. Barclays was one of the biggest fallers last week, plunging to below 260p. Spread betters have been buying on the weakness, anticipating that the stock will recover in the longer-term. ShortsandLongs.com has a rolling spread of 257p-258p.
The majority of retailers have already reported their results but stationer WH Smith is still to report.
Supermarkets have posted bumper profits and many other retailers have also benefited from a decrease in competition. WH Smith’s results on Wednesday could be a good buying opportunity. Capital Spreads quotes a price of 489.5p-492.2p.