Europe positive in quieter trading conditions
City Index December 5, 2011 3:05 PM
<p>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%, […]</p>
The video cannot be shown at the moment. Please try again later.
- 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.
StoneX Financial Ltd (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.