Dow reverses early losses; miners weigh on the FTSE over global growth prospect fears
Trading Floor News August 14, 2013 2:29 PM
<p>The Dow reversed early losses during the US session yesterday and closed up 31 points at 15451. We have just had the German preliminary GDP […]</p>
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The Dow reversed early losses during the US session yesterday and closed up 31 points at 15451.
We have just had the German preliminary GDP figures released and they came out better than expected, pushing the DAX up 15 points in early trading to 8433.
Economists are suggesting that the recent improvement in financial data from the EU economic zone signals a possible end to repeated crisis driven contractions in growth.
The yen has weakened further against the dollar and this has resulted in the Nikkei closing up 183 points at 14050.
International Consolidated Airline is the biggest riser on the FTSE in early trading, up 2.6% after delisting Vueling and replacing the board of the company.
Miners Rio Tinto, Anglo American and Eurasian are the biggest losers as investors remain cautious about global growth prospects, particularly in China.
The main data releases today are the UK claimant count change and MPC voting results at 9.30am BST. We also have flash GDP from the eurozone at 10am and month on month PPI figures from the US at 1.30pm BST.
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