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Crude hits new records today as equities look to edge up

09.05.08

The main feature of the week has been the relentless rise in crude oil prices, so this sector together with the buoyant miners should continue to rise today. Elsewhere, the generally bullish UK sentiment remains, but we still urge balanced positions at this crucial stage in the rally, with a lower open expected today.

The Dow Jones edged up yesterday as miners and oil stocks moved higher, though sales figures from the retail sector were mixed. In the UK it was a similar story, and with crude oil at another new today, we see further gains in energy and commodity stocks. Elsewhere the market still feels generally bullish, but we remain at a crucial point and balanced positions are still recommended.

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