European indices trade lower over lingering uncertainty in Syria

<p>This morning we saw the European indices trading significantly lower. It is the uncertainty about the political situation in Syria which caused the downfall. Just […]</p>

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This morning we saw the European indices trading significantly lower. It is the uncertainty about the political situation in Syria which caused the downfall.

Just after 9am the FTSE was trading at 6442, which is 60 points down on the day. The German DAX dropped by 135 points and was trading at 8300.

American stocks declined amid concerns that the US government can hit its debt ceiling in mid-October.

Gold prices, considered as safer investment, climbed in the mean time. Gold futures are trading above the 1400 level today.

In the forex market, the pound sterling and euro are trading weaker against the USD with GBPUSD at 1.5508 and EURUSD at 1.3335

In terms of economic news releases we are looking at a rather quiet day today. The data about US Consumer Confidence is published by the Conference Board at 3pm today.

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