A solid start in Europe this morning with gains largely across the board

A solid start in Europe this morning, with gains largely across the board, but especially of note are the mining firms that are leading the […]


Blue avatar for FOREX.com guest contributors
By :  ,  Financial Analyst

The video cannot be shown at the moment. Please try again later.

  • A solid start in Europe this morning, with gains largely across the board, but especially of note are the mining firms that are leading the way mainly because base metal prices have strengthened on hopes of improved demand from China. That combined with bullish sentiment from US futures yesterday and also strong performance in Asia have had a knock on effect in a positive way this morning.
  • FTSE is at 5370, so 20 points up, the DAX is at 6360, 30 points higher and the CAC is at 3055 so about 15 points up so far.
  • So as mentioned earlier the miners are amongst the biggers risers with Kazakhmys and Vedanta leading the FTSE risers, up about 3.5% and 3% respectively.
  • Only a few stocks in the red, but noteworthy fallers are Wolseley PLC. The plumbing firm are over 4% down at 2205p after reporting their third quarter results, indicating a slowdown in growth.
  • The dollar index is seen to be easing this morning, usually an indication of increased risk appetite and as a result we see GBP/USD up 0.2% at 1.5697 and the EUR/USD up 0.25% at 1.2555. Gold is also higher by 0.1% at 1577.
  • In economic data keep an eye out for German Consumer Price Index figures, and US Consumer Confidence figures a bit later.

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Related tags:

Open an account today

Experience award-winning platforms with fast and secure execution.

Web Trader platform

Our sophisticated web-based platform is packed with features.
Economic Calendar