Antofagasta slips following Citigroup downgrade; all eyes on FOMC member Evans’ speech
Trading Floor News September 27, 2013 4:05 PM
<p>The Dow finished up 55 points yesterday but it was a weak trading session and the FTSE is currently down 17 points at 6540-41. The […]</p>
The video cannot be shown at the moment. Please try again later.
The Dow finished up 55 points yesterday but it was a weak trading session and the FTSE is currently down 17 points at 6540-41.
The Nikkei closed down 39 points at 14760 after the national core CPI came in better than expected at 0.8% but the Tokyo core CPI came in under expectations at 0.2%.
The UK HPI month-on-month figure came out better than expected, 0.9% versus 0.5%. On the back of this Travis Perkins’ shares went up 1.45% in early trading at 1674p.
The biggest faller on the FTSE 100 is Antofagasta, down 2.58% after CitiGroup gave the stock a sell rating with a price target of 790p. It is currently trading at 831p.
The main events of the day are ECB President Draghi speaking at 10am but this will be followed at 10.45am (UK time) by FOMC member Charles Evans speaking from Oslo at 10.45am (UK time). His speech will be important as he stated in a previous discussion that the Fed could start tapering later this year.
Other figures include personal spending from the US at 1.30pm (UK time) and the consumer sentiment figure at 2.55pm (UK time).
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.