After the Fed Reserve minutes released last night suggested that the US economy would have to worsen before further stimulation, markets have sold off in early trading
City Index July 12, 2012 10:09 PM
<p>After the Fed Reserve minutes released last night suggested that the US economy would have to worsen before further stimulation, markets have sold off in […]</p>
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- After the Fed Reserve minutes released last night suggested that the US economy would have to worsen before further stimulation, markets have sold off in early trading, reversing yesterdays modest gains here in Europe.
- Currently we have the FTSE down 36 at 5617, the DAX is off 1% while the DOW futures are down just over a ½%.
- One of the few stocks in positive territory on the FTSE is ITV – they are the biggest gainer, currently up 1 ½%.
- On the down side we see Ashmore Group as the biggest faller, down 5 ½% after assets under management fell 3.3% and poor investment performance.
- G4S are also down 2.5% after the army was put on Olympic alert over security guard fears.
- Further developments on the FTSE 250 have Aegis Group up a staggering 45% on the day after Japanses giant Dentsu plan to buy the firm for an estimated £3.2bn.
- With low volumes characterising trading, this afternoons US Initial Jobless Claims at 1.30pm and tomorrows results from JP Morgan will undoubtedly provide some interest to a largely range bound market.
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