ECB rate cut and extension BoE’s QE policy
City Index July 30, 2012 10:26 PM
<p>With another positive start this morning following 2 strong sessions of growth, the FTSE is currently 22 points higher at 5652 and the German Dax […]</p>
The video cannot be shown at the moment. Please try again later.
- With another positive start this morning following 2 strong sessions of growth, the FTSE is currently 22 points higher at 5652 and the German Dax is 50 points higher at 6535.
- With traders expecting an ECB rate cut on Thursday and an extension of the Bank of England’s quantitative easing policy the risk is very much on again and the biggest gainers are the miners.
- Vedanta are the biggest gainer on the FTSE, up close to 5% while Kazakhmys, Rio Tinto, Antofagasta and Fresnillo are all up between 2.5% and 1 ¾% respectively.
- Morgan Stanley raised the metals and mining sector to “attractive.”
- We also see Barclays posting 1 ¼% gains after CEO Bob Diamond resigned following the Libor-gate scandal.
- In the red are Aberdeen Asset Manager, the biggest faller down 2.5% while Kingfisher are 1.75% down as well.
- With UK construction figures at 9.30am and US Factory orders at 3pm this afternoon, there is plenty to be focussing on.
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.