European indices looking flat today
Trading Floor News October 17, 2012 3:30 PM
<p>- European indices are looking pretty flat today after having opening up in early trading as Germany’s extending of a line of credit to Spain […]</p>
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- European indices are looking pretty flat today after having opening up in early trading as Germany’s extending of a line of credit to Spain boosted financials and helped Spain retain its investment grade credit rating.
- The FTSE currently sits up 2 points at 5880, the CAC up 11 at 3510 and the DAX up 4 at 7382.
- Over in the states ahead of last night’s presidential debate the Dow closed at 13551 up 128 points on the day, led by Intel who announced favourable results leaving the up 2.85% and Citigroup who rose 1.6% after their CEO Vikram Pandit announced his surprise departure.
- Looking back on home turf our biggest loser is BAE systems although this is down to the company going ex div.
- We’ve seen a sell-off in Barclays of 2.3% much in contrast with RBS, up 3%, as it announces its withdrawal from the government’s Asset Protection Scheme which insures its toxic assets – this an important landmark in its progress to shake of the state’s control and become a private company again.
- On the other side of the channel we’ve also seen French food group Danone fall 4% as their revenue growth slows.
- As earnings season kicks off the best place to see a bit of action is in the states as we’ve got results coming from Bank of America, Blackrock, Bank of New York and Ebay amongst many others, for a full list check out the market analysis section of our website.
- The US also have building permits coming at 1.30pm today.
- Finally, we’ve just had better than expected unemployment data in the UK with claimants down 3.8k more than expected.
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