Burberry climbs 5% on positive trading statement
Trading Floor News April 17, 2013 2:41 PM
<p>Good morning and welcome to the City Index market update for Wednesday, April 17, with me Warren Ruhomon. In Asia the Nikkei is up around […]</p>
The video cannot be shown at the moment. Please try again later.
Good morning and welcome to the City Index market update for Wednesday, April 17, with me Warren Ruhomon.
In Asia the Nikkei is up around 1% from the day’s trading so far, at 13,382.
In Europe the FTSE has started the day with a decline of just over 0.5% at 6,304. The CAC 40 and German DAX are also in decline, currently trading at 3,685 and 7,682 respectively. Over in the US, the Dow Jones closed yesterday at 14,756.
Taking a glance at the big gainers and losers from this morning, Burberry are leading the way, up 5% off the back of positive news of an increase in second-half comparable sales, whilst insurance firm Resolution Limited are showing the biggest drop from today’s trading so far, with shares down just over 5%.
With a quick look at commodities, gold is trading up at around $1,382, silver is currently at $23.47, and brent crude oil is trading just under the $100 level at $99.4 a barrel.
Focusing on the major forex pairs, EUR/USD has shown some recent gains at 1.3182, GBP/USD is at 1.5348 and GBP/EUR is around 1.1637.
The recent widescale sale of gold funds in favour of equities has been at its fastest pace in two years, compounding a slump that has wiped $560 billion from the value of central bank reserves.
Exchange-traded products linked to gold have dropped $37.2 billion so far this year, as the metal reached a two-year low yesterday.
This has been your City Index Market update for Wednesday, April 17, with me, Warren Ruhomon.
GAIN Capital UK Limited (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.