As the eurozone is once again gripped with fear
City Index May 30, 2012 2:49 PM
<p>As the eurozone is once again gripped with fear, eyes fall on Italy today as they host a 10-year bond auction. Further information from the […]</p>
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- As the eurozone is once again gripped with fear, eyes fall on Italy today as they host a 10-year bond auction.
- Further information from the European Commission’s economic strategy will hopefully give a clearer indication for fiscal consolidation with the focus on Spain and Italy.
- All this indecision has lead to a reversal from yesterday’s gains and currently we see the FTSE down 50 points at 5342.
- In Europe the Spanish Ibex is down 1.3%, the Italian MIB is 0.6% down and the Dax is just shy of 1% down as well.
- The Dow Futures are currently down 55 points at 12,522.
- Unsurprisingly the biggest fallers on the FTSE this morning are the ex-div stocks.
- National Grid down 4%, Capital Shopping Centres down 4%, Amec are off 3.5% while M&S are 3% down as well.
- Man Group however are bucking the trend, they are the biggest gainer, UP 1.3% this morning having lost around 40% of their value this year alone.
- As well as the Italian bond auction, we also have US Pending Home Sales at 3pm and the ECB President Mario Draghi speaking around the close of European markets.
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