Europe positive in quieter trading conditions

The FTSE has started the week in an uncharacteristically quiet manner for recent times. After the biggest weekly gain in three years, gaining around 7.5%, […]


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By :  ,  Financial Analyst

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  • The FTSE has started the week in an uncharacteristically quiet manner for recent times.
  • After the biggest weekly gain in three years, gaining around 7.5%, the FTSE is only slightly positive this morning, up six points at 5558.
  • The rest of Europe however is looking stronger, with the French CAC up 1% and the German DAX up 0.75% as Italy announced austerity measures.
  • However, with a crucial EU summit scheduled for Friday, traders are nervously awaiting further news from the eurozone.
  • Banks are having a cracking morning today, with Lloyds the biggest gainer, up an impressive 6%, that’s nearly 27p.
  • RBS is currently Up 4.5% and Barclays is up 3.3%.
  • On the downside, Smith & Nepthew is down 2.2%. Arm Holdings is down 1.25% and Shire is just shy of falling 1%.
  • From a macro perspective, we have UK services PMI data at 9.30 while at 3 we have US non-manufacturing PMI.
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