EU shares slide following weakness in mining, copper and gold sectors
Trading Floor News April 18, 2013 3:39 PM
<p>European shares fell after early gains today following weakness in the mining, copper and gold sectors in light of this week’s stern selloff. This may, […]</p>
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European shares fell after early gains today following weakness in the mining, copper and gold sectors in light of this week’s stern selloff.
This may, however, lure back some investors looking for bargains and opportunities.
US shares dropped on Wednesday after seeing poor earnings reports and lower energy prices. Apple was down 5.5% following lower than expected sales and sluggish business. This also impacted the Nikkei, which dropped 162 points today to 13220, breaking below its five-day moving average as shares linked to Apple came under pressure after yesterday’s performance.
In indices, the Dow was up 138 points at 14,618, the FTSE was up 21 points at 6265 and the DAX was up 24 points at 7527.
In currencies, EUR/USD was trading up 0.16% at 1.3050, GBP/USD was trading higher by 0.10% at 1.5251 and USD/JPY was down 0.13% at 97.960.
Back on the FTSE, the top performers of the day included Johnson & Johnson, up 0.55% at 83.90p; Glaxosmithkline up 3.05% at 1656p and Infineon Technologies AG up 2.30% at 5.59p.
In Economic data, the G20 meetings, which begin today, will be in focus. Also keep an eye on UK retail sales data at 9.30am GMT, followed by unemployment claims and the Philly Fed manufacturing index in the US at 1.30pm and 3pm respectively. Later in the day, FOMC member Raskin’s speech will be in focus at 5pm GMT.
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