Asian markets easing due to concerns over global economic slowdown
Trading Floor News October 15, 2012 4:40 PM
<p>- After last weeks easing in the markets, in particular the Asian markets, due to concerns over global economic slowdown, the markets open the week […]</p>
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- After last weeks easing in the markets, in particular the Asian markets, due to concerns over global economic slowdown, the markets open the week somewhat optimistic.
- It appears strength in the financial sector and retailers is pushing the major index higher. This is despite, the mining sector looking weak due to lower commodity prices.
- The FTSE is at 5812, 22 points higher, the DAX currently at 7287, 55 points higher and the CAC is at 3425, 40 points higher.
- Hargreaves Lansdowne is the biggest riser so far, after successfully floating Direct Line last week, we see the asset manager continue their strong performance and are currently higher by 2.5% at 730.00
- They are joined by Barclays and other financials, although RBS were in the limelight after Santander pulled out of the proposed takeover deal of 316 of its branches, and now in talks with Virgin Money, and are currently 0.85% lower at 268.
- The biggest faller is BT Group, who are down by 2%, and joined by companies in the mining sector, as lower commodity prices and a negative review by Goldman Sachs on the sector take their toll.
- As far as economic data is concerned, we’ve already had Chinese CPI figures come in, inline with expectations. Keep your eyes on US bond auctions later this afternoon.
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