A busy day ahead from a macro perspective
Trading Floor News November 14, 2012 3:30 PM
<p>- With the FTSE bouncing off a two-month intra-day low yesterday to end the session positive, weakness late on in the US and overnight in […]</p>
The video cannot be shown at the moment. Please try again later.
- With the FTSE bouncing off a two-month intra-day low yesterday to end the session positive, weakness late on in the US and overnight in Asia has led to an early fall here in Europe.
- With dividend adjustments taking 10.7 points off the FTSE with heavy weights GlaxoSmithKline and Royal Dutch Shell A and B, as well as Marks & Spencer, all losing their dividend attraction, we currently find the index down 19 at 5755 .
- In Europe we see the Dax is down 25 at 7145 while elsewhere, things are mixed.
- Unsurprisingly we see the ex-dividend stocks as the biggest fallers with Shell A and B shares the biggest fallers, both down around 1.6%.
- GSK are also down 1.25% while building material supplier CRH plan more cost cutting measures as they face the uncertainties of the US fiscal cliff and further disruption in the eurozone to leave them down over 1%.
- On a more positive note we have AMEC as the biggest gainer, who note their year to date trading is in line with expectations – they are up 2.25%.
- An upgrade to neutral from Nomura has also boosted Weir Group who find themselves 1.4% higher.
- A busy day ahead from a macro perspective has traders watching UK unemployment figures at 9.30am and the BoE inflation report at 10.30am.
- There is plenty to digest this afternoon with the US retail sales at 1.30pm and PPI data as well as the FOMC meeting minutes at 7pm.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.