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The FTSE is currently indicating a higher opening, as traders hope that the equity market surge that started in Asia spills over into UK. Early indications show that energy stocks will get the strongest boost on the FTSE, as oil prices continue to push higher in early trade. Since there will not be any economic data today, the FTSE is most likely to spend the day in positive territory.

Oil prices got a boost today, after OPEC announced that they are planning another production cut early in the New Year. The organization is hoping to boost the price of oil back above the 60 dollars per barrel mark. We expect oil prices to continue to rise moderately probably ending the week around the 45 dollar level.

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The FTSE currently indicates a weak opening, as traders wait for the release of the UK Industrial production numbers. This data should give analysts some hints on the condition of the industrial sector and if the interest rate cuts are going to stimulate the struggling economy. The FTSE is likely to start Tuesday morning in the red.

Oil prices firmed up yesterday as OPEC spread the news that they will be cutting output at the next meeting. While it is not known how much will be cut, it will take a significant cut to bring oil prices back to a decent level. It is likely that oil prices will continue to rise, but stop around the 45 dollar per barrel level.

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The FTSE is currently indicating a weak opening, as traders wait for the release of the US non farm payroll report. While this economic data is not from UK, it is significant enough to have traders from both sides of the ocean pay close attention. Analysts are expecting the NFP to show the worst job loss in more then 25 years. The FTSE will most likely end this week on a sour note.

Oil tumbled past the 45 dollar per barrel mark yesterday, as the economic contraction and record job losses world wide has forced consumers to cut back on their fuel consumption. Oil lost 19 percent of its value this week, which coincided with the declaration of a recession in UK and US. We believe that oil should try and break the 40 dollar mark, but that's probably going to have to wait until next week.

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The FTSE is currently indicating a flat open, as traders wait for the interest rate decision by the Bank of England. While a 100 basis point cut is all but assured, there are some analysts who are predicting the BOE will surprise everyone again and cut 150 basis points, this would push the FTSE into positive territory but would be disastrous for the British Pound. 

Crude oil continues its free fall, as the longest economic contraction since World War II has slashed demand worldwide. Oil currently trades just under 47 dollars per barrel, as lack of production cuts by OPEC and falling demand from consumers has resulted in an oversupply situation. Oil should settle nicely around 45 dollars per barrel by the end of the week.

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Markets are on the advance today with US markets pushing global equities higher. It is difficult to ascribe a definitive reason for today’s buying and it would be easy to fall into the trap of finding a story that fits. A rebound from a sell off that went too far yesterdays is a likely contributor as are the noises from central governments that they may be willing to go further to help their ailing economies. Whatever the reason for today’s rally, investor’s a grateful that last week’s gains haven’t been wiped before the end of Tuesday. 
 
 Tesco is one of the biggest gainers today in the UK after announcing better than expected sales figures. Traders are impressed with Tesco’s flexibility in being able to compete against both the discount and higher cost super markets. Analysts had feared that discounters Aldi and Lidl would seriously dent Tesco’s earning potential, but the Cheshunt Giant has shown that it can adapt to the new competition and challenging market environment.

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