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>
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- 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.
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