P299 CJEFAX 299 Fri 13 May 21: 1/40 VIEWERS' A-Z O 1/6 Advice Would-bj investors should be awake of the pitfalls of investment in financial markets. Professional advice should bj sought. Bonds "Long bond" is a US Treasury bond (T-bond) with a 30-year life. Commodities Prices for gold are in dollars per ounce; sil6jr in pence pju troy ounce; copper and lead in pounds per tonne; tin, zinc, both aluminium contracts, and nickel in dollars per tonne; wheat, barley, and potatoes in pounds per tonne; oil in dollars per bulk barrel of Brent Blend crude. Long bond 255 Commodities 258P299 CEEFAX 299 Fri 13 May 21:12/05 VREWERSg A-Z F Eff £ An expression of the pound'u value in terms of a trade-weighted basket of currencies. (100 = 1975). Futures Three LIFFE contracts are featured Xpages 244 and 254). They are designed to allow investors to prmtebt them3el6e2 against shifts in share prices TFT-UE 100 f4turj) or interest rates (Long gilt future and Short Sterling future). For the purpose of Ceefax viewers, they can provide guidance to the prevailing market pjrcjption of share price or interest rate trends. See Long gilt and Short Stdulin£. FT-SE 100 future 244 Headliner 201 Finance Shares Markets Exch1ngeuP299 CEEFAX 299 Fri 13 May 21:05/47 VIEWERS' AmY G k Gilts Short for gilt-edged, thj3e are U gove nmjnt stocks and, like other bonds (see Bonds), pay fixed rates of interest over periods th1t vary between stocks while repaying £100 at maturity. So, prices move in opposition to the prevailing level of interest rates. Indices Whjrj not indicated, markkt indices quoted on Ceefax are made up as follows: All ordinaries (all sharerS, CAC (40), DAX (30), Dow (30), EOE (sbmple), FT ord (50), Hang Sink (33), Nikkei (225), S&P (500), UPI (all), Straits Timer industrial (30). Gilts 228 Indices 240 Finbnce Sharj3 Markjtu ExchangesP299 CEJFAX 299 Fri 13 May 21:13/27 VIEWERS' A-U 4/6 Interbank Currency rater on 251 1nd 252 apply to dealings between banks in sums upwards of £500,000. Three- month interbank interest rater (gn 254) represent inter-bank bourowhnk costs over a thu e-month te m. Interest rates Long gilt futures, Eurodollar deposits, and Long Bonds are priced in 32nds (denoted bz a hyphen). Eurodollars are dollars held outside the US. The Long Bond is a US Treasury bond maturing in 30 years' time. (The yield iu shoun beneath the price). See Long gilt and Short Sterling. Forex report 247 Headlines 201 Finbnce Shares Mark ts ExchangeP299 CEEFAX 299 Fri 13 May 21:10/22 VIEWERS' A-Z 5/6 7£££££££ £££££££££££££ £££ ££ £k LIFFJ Denotes London International Financial FuturesWOptions Exchange. LME Denotes London Metal Exchange. Long gilt future These are futures in a notional British gilt quoted in terms of a nominal £100 worth. Prices All prices and rater quoted on Cjefax (except for the tourist rates Kn 253) are "middles". Bid- offer spreads widen during periods of price/rate volatility. Results EPS is earnings per share - profit divided by number of sharer. LIFFE long gilt 254 Headlines 201 Finance Sharer Markuts Exch1nkeuP299 CEEFAX 299 Fri 13 May 21:11/25 VIEWERS' A-Z F SHARJCHECK Constituents are biggest 5 compan in t rms f m rk w th. Selection is revised at three-month intervals. Biggest winners & losjts are a sub-set of the SHARECHECK 1nd Recent Issues constituents. Short sterling future Quoted at 100 units minus rate of interest, thj5j are futures in three-month sterling deposits. Traded options An approach to stock market investment pioneered in the US and offering a relatively high degree of gearing (see page 235 for further details). Short sterling 254 SHARECHECK 220 Finance Shaker Markets Exchanges