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>
The video cannot be shown at the moment. Please try again later.
- 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%.
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.