European markets opened higher this morning ahead of the FOMC statement
Trading Floor News September 18, 2013 3:30 PM
<p>The European markets opened higher this morning ahead of the FOMC statement expected today. But just after 9am they were already trading lower with FTSE […]</p>
The video cannot be shown at the moment. Please try again later.
The European markets opened higher this morning ahead of the FOMC statement expected today. But just after 9am they were already trading lower with FTSE at 6574 and DAX at 8616.
Gold price dropped slightly to 1305 while US October Crude Oil gained almost 1%.
In the UK, Barclays has gone ex-rights this morning. Ordinary shares were trading down by 6% after the opening bell but including the rights, Barclays is valued up by 6% at the moment.
Moving to Lloyds, the government has sold its 6% stake at a price of 75pence. Lloyds share value was moderately up by 1.25%.
This evening, the FOMC statement will be released at 7pm followed by Press conference at 7.30. The expectations are that the asset purchase scheme will be reduced by 5-10 billion USD per month, from current $85billion figure.
Whatever the outcome will be, we can certainly expect volatility across the markets after the announcement.
GAIN Capital UK Limited (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.