Financial markets yesterday gave up much of Tuesday’s gains
City Index May 3, 2012 3:24 PM
<p>Financial markets yesterday gave up much of Tuesday’s gains after the ADP jobs report from the US came in considerably worse than expected. While markets […]</p>
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- Financial markets yesterday gave up much of Tuesday’s gains after the ADP jobs report from the US came in considerably worse than expected.
- While markets ended slightly off the lows, FTSE Down 54 at 5758 and the DJIA Down 10 at 13,268.
- This morning, despite negative trading updates from some blue chips, the FTSE is looking strong, UP ½% at 5787.
- Smith & Nephew currently top the FTSE up 2.3% as their results beat 1stQ expectations.
- Morrisons are also 1% Up despite Like for Like sales falling.
- On the downside, Antofagasta are the biggest faller, Down 4% after they announced that production fell in Q1.
- BG Group are also suffering after they missed analysts expectations, Down 3% this morning.
- With an important ECB meeting at 1.30 at the same time as US jobless claims, many traders are waiting till this afternoon and tomorrows key Non-Farms Payroll for more indication to the direction of this see-saw market.
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