European markets trade lower this morning with the FTSE down

<p>- European markets traded lower this morning with the FTSE down at 6102 and the mining and banking sectors pulling the index lower. – In […]</p>

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- European markets traded lower this morning with the FTSE down at 6102 and the mining and banking sectors pulling the index lower.

- In result of the disappointing metal prices, Anglo American was the worst performer dropping 3% on news of a strike at one of its mines in South Africa with rio tinto following down 13.5p.

- RBS bank still suffering with concerns over its libor fixing fine down 3.45p and Lloyds bank also weaker down 0.42p.

- On the upside UK Burberry was top gainer, up 5% reporting strong revenues over Christmas, Overall quite a tense market today with fiscal concerns continuing in the US and new fears for Europe. The euros 10-month rally has now proposed a threat to the Eurozone, the strength of the euro is said to be too high making Eurozone products more expensive for countries outside the group.

- With lack of UK corporate news investors will turn their attention over to the US where JP Morgan and Goldman sacs kick of the bank reporting season today.

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