Please find below the Morning Report from David Evans, market analyst at BetOnMarkets.com

It was a good week for European equity markets with the FTSE100 finishing the week at 5636, its highest level for nearly two months. US markets didn’t have such a good time of it, with the Dow Jones and S&P500 finishing largely flat on the week and the Nasdaq closing well down after a sell off on Friday.

Please find below the Morning Report from David Evans, market analyst at BetOnMarkets.com

Please find below the Morning Report from David Evans, market analyst at BetOnMarkets.com

It was another edgy week for stock markets with both bulls and bears frustrated and unwilling to take on big positions. With the exception of the FTSE, major indices finished down on the week, though a good showing on Friday ensured that equities finished well off their lows. Volume was generally low with summer holidays kicking in on both sides of the Atlantic.

Please find below the Morning Report from David Evans, market analyst at BetOnMarkets.com

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Please find below the Morning Report from David Evans, market analyst at BetOnMarkets.com

The FTSE finished the week down slightly, but the real loser last week was UK PLC. The pound crashed as various factors come to a head. Up until July, the US Dollar was the currency the world loved to hate, last week it was sterling’s turn to be punished. The Bank Of England inflation report was more dovish than expected, opening the doors to possible interest rate cuts before the year is out.

Please find below the Morning Report from David Evans, market analyst at BetOnMarkets.com

Credit crunch pinched residents of one Norfolk village have been taking advantage of an inventive means to save the pennies without cutting back on nights out. Thanks to the resourcefulness of their local pub, 'The Pigs', they can now barter fresh produce in return for pints of beer.

Interesting idea.

The FTSE is currently indicating a slightly higher opening, as traders are wondering if the US equities rally yesterday will translate in gains on this side of the ocean. With all the major indices indicating higher openings and crude oil trading lower, the FTSE could spend the whole day in the green, a perfect present before the weekend.

The FTSE has made a better fist of it today and is showing strength relative to other major indices. The relatively heavy weighting in energy stocks is pushing the UKs benchmark index higher, with help from resurgent resource stocks such as Antofagasta. Overall though the sun isnt shining on all global equities and the FTSEs gains could easily be erased between now and the close.

Please find below the Morning Report from David Evans, market analyst at BetOnMarkets.com

Markets finished last week strongly, with many global indices finally break out the range they had been trading in since July. The Dow Jones Industrial average even managed to register two 300 point rallies in one week.