Another day, another wild swing on the FTSE100. First it was up, then it was down, then it was up again. The difference between the low today and the high was around 200 points.
As I said in a previous post, I hope you day traders are having fun in this market.
The FTSE100 finished the day up 155.67 (3.11%) at 5162.83.
The FTSE250 closed up 2.52% (248.78 points) at 10139.74
Other markets around Europe have also posted healthy gains today (Dax up 3.3% and Cac up 2.5%) and in the US, the Dow Jones is currently up 2.45%
Today’s winners included Phoenix Group Holdings (up 10.87%), Daejan Holdings (up 9.99%), Barclays (up 8.64%) and Laird (up 8.07%). While on the slide were TUI Travel (down 5.66%), Pace (down 4.71%), Spirit Pub Company (down 3.36%) and WH Smith (down 3.19%).
I think things are still on a knife-edge out there though. And Chancellor George Osborne has warned that the UK economy is not immune to the international economic storm. He told Parliament:
“The whole world now realises that the huge overhang of debt means that the recovery will take longer and be harder than had been hoped.
“Markets are waking up to this fact and that is what makes this the most dangerous time for the global economy since 2008.”
For the second day in a row, I haven’t taken advantage of free dealing commission. It’s hard for an amateur investor to know what to do at the moment…