European Markets Slightly Down
City Index December 19, 2011 2:57 PM
<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%.