A somewhat quiet start to the week on the corporate data

<p>A somewhat quiet start to the week on the corporate data. Having touched an eight-month high last week, the FTSE is just dropping off 25 […]</p>

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  • A somewhat quiet start to the week on the corporate data. Having touched an eight-month high last week, the FTSE is just dropping off 25 points from last week’s close, currently trading at a level of 5940, with slight falls seen in European indices also, the German DAX at 7120, down 40 points and the CAC down 25 points. Some of the Economic data released last week possibly showing signs of a slowdown, suggesting the recent trends may have peaked.
  • Homebuilder Berkeley group issued its interim management statement, they announced they delivered a robust trading performance over the period from 1st November to 29th February, and are well placed to deliver on its target to double profit before tax to £220million by April 2013.
  • Also Magic Bidco Ltd, an investment vehicle indirectly owned by the Vista Funds, have agreed to buy the software developer Misys Plc for 350p per share.
  • On a day quite devoid of any major economic data scheduled for release, the euro has edged lower against the US dollar trading at 1.3148, down by 0.2% and the pound sterling flat against the dollar from Friday’s close at 1.5836.
  • Gold prices flat on the day at 1656 although still largely down from last weeks levels, with US crude oil also flat at 10740, which appears to be trading within a range at the moment.

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