A flat to slightly higher start to trading this morning
Mansur Chowdhury July 17, 2012 10:02 PM
<p>A flat to slightly higher start to trading this morning, with domestic investors cautious ahead of the latest UK inflation readings, a bit later this […]</p>
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- A flat to slightly higher start to trading this morning, with domestic investors cautious ahead of the latest UK inflation readings, a bit later this morning.
- FTSE is at 5670, up about 15 points, DAX is at 6603, up 40 points with the CAC at 3190 up 10 points, so a seemingly stronger open in European indices than the FTSE.
- Despite metal prices easing on concerns over US slowdown, miners seem to be bucking the trend and amongst the biggest risers are Vedanta Resources and Kazakhmys both gaining 1.5% and 1.25% respectively. Barclays are also one of the biggest risers with a gain of 1.45%.
- The biggest faller is Wolseley who are 3.5% down this morning. The plumbing firm cited difficult market conditions in continental Europe in the third quarter have continued, and is now mulling strategic options for its business in France.
- Gold is stronger by 0.25% at 1594. The dollar index weakening slightly against major European currencies with the EUR/USD up 0.25% at 1.2298 and the cable at 1.5634 so 0.1% higher.
- A busy day on the economic calendar. We kick off with UK CPI figures later this morning, and with BoE Mervyn Kings speech. As the day progresses also keep your eyes open for economic sentiment survey from Germany, CPI figures from the States and FED chairman Bernanke’s congressional testimony today.
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