Cautious start for EU markets this morning as FTSE rises 16 points to 5762
Fiona Cincotta April 27, 2012 3:31 PM
<p>Cautious start for EU markets this morning as FTSE rises 16 points to 5762 Spanish stocks saw a negative open as the S&P downgraded Spanish […]</p>
The video cannot be shown at the moment. Please try again later.
- Cautious start for EU markets this morning as FTSE rises 16 points to 5762
- Spanish stocks saw a negative open as the S&P downgraded Spanish credit rating by 2 notches to BBB+ last night after Spanish unemployment hit 24.4%
- This has put pressure on stocks and bond yields +6%
- Other disappointing data in the eurozone showed that French consumer spending came in worse than expected at -2.9%, versus expectations of -1.9%
- In UK markets, banks and miners were the worst performing stocks. Barclays fell ahead of the annual general meeting where shareholders are expected to revolt against levels remuneration, pulling down sector peers Lloyds and RBS
- Miners are down too, tracking lower metal prices.
- Looking ahead to today, US GDP will be released at 1.30pm, annualised 2.5% from 3%. The University of Michigan consumer confidence survey will be released at 2.55pm.
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.