Morning Call by Traders University

The FTSE 100 enjoyed a strong day, boosted by good performances in the industrial metals and life insurance sectors. The blue chip index was up 84 points to 4052, with insurer Prudential climbing over 8% to 394.12p to stand at the top of the winners’ board. Bank were also strong with banks Barclays and Lloyds Banking Group, gaining over 7% and 6% respectively. It was a dire day for outsourcing group Bunzl, which saw shares slide just shy of 10% on the back of big falls in underlying sales for the first quarter. Also suffering was credit-checking group Experian which fell over 5% despite expecting to deliver full-year profits. The Dow Jones industrial average, DJI rose 95 points to 8,125. US Stocks surged on Thursday as expectations of reassuring results from bellwethers, including Google, lifted technology shares, while JPMorgan’s better-than-expected profit added to bank stabilization hopes. People are starting to feel that maybe there’s a slight chance this is not just a bear market rally,” said John O’Brien, senior vice president at MKM Partners LLC in Cleveland, referring to the market’s 28 percent rebound since the 12-year closing low of March 9. In Forex news on Thursday the dollar and the yen rallied against the euro on further bleak data around the world dented optimism about the global economic recovery , boosting safe haven flows into the U.S. and Japanese currencies. U.S. data released, points to continued weakness in the housing and labour added to the gloom. In data releases today at 8.00am for CHF, the SNB Chairman Roth Speaks. Then at 1100am the CAD CPI m/m is due. Later in afternoon at 4.30am US Fed Chairman Bernanke Speaks.