European markets await key data from the US
City Index September 13, 2012 3:00 PM
<p>- European markets, awaiting key data from the US this afternoon, have begun the morning session in a fairly lacklustre manner. With the German Dax […]</p>
The video cannot be shown at the moment. Please try again later.
- European markets, awaiting key data from the US this afternoon, have begun the morning session in a fairly lacklustre manner. With the German Dax slightly down, off 10 points at 7340, the FTSE is the reverse with a 10 point gain, at 5789.
- With the drama likely to come this afternoon, the major movers on the FTSE are on the downside with NEXT down 5.7% on slowing sales and a cautious note about the economic outlook. We also see BAE Systems down 5% after the announcement over their tie-up with EADS to create the world’s biggest aerospace company. On the Up-side we have BT Group, 1.5% higher, while Amec are also 1.5% higher.
- Arm Holdings, who are providing the new Apple iPhone 5 with their A6 chipset are also strong, 1% higher. With twitter still digesting Apple’s Keynote Speech, while many suggesting the iPhone as the weakest aspect of the product upgrades, many anticipate their share price to struggle, despite a strong showing towards the close last night with the stock ending trading around $670.
- The major story of the day will undoubtedly be at 5.30pm with the FOMC statement and press conference likely to give a clearer indication of the US economy and any potential stimulus. Also of note is US PPI and weekly jobless claims at 1.30pm.
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.