Financial markets yesterday gave up much of Tuesday’s gains

<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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