European Markets Slightly Down

<p>With markets ending down last week, they have started the week in negative fashion with the FTSE down a further 5 points at 5384. Europe […]</p>

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  • With markets ending down last week, they have started the week in negative fashion with the FTSE down a further 5 points at 5384.
  • Europe is harder hit, with the CAC down 0.7% and the DAX down 0.3% in early trading.
  • In the words of ratings agency Fitch, the European debt crisis is ‘technically and politically beyond reach’, prompting further fears of downgrades for France and other European nations.
  • Vince Cable and George Osborne, Citing the Vickers report, have put pressure on banks.
  • Banks are some of the biggest fallers today, with Lloyds down 1.2% and RBS down 1%.
  • Tullow Oil is also suffering, down 1.4%.
  • However, HMV is hogging the news this morning as its results failed to spread Christmas cheer amongst investors, with the stock falling to 3.7p.
  • On a positive note, defensive stocks are stronger, with Imperial Tobacco the biggest gainer, Up 1.4%.
  • Capital Shopping Centres is also up over 1%.

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