FTSE down 43 points so far today

<p>The FTSE is down 43 points so far today, currently trading at 5170 on the back of weak Chinese manufacturing data. The miners are the […]</p>

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  • The FTSE is down 43 points so far today, currently trading at 5170 on the back of weak Chinese manufacturing data.
  • The miners are the worst hit, with Rio Tinto and BHP Billiton down 1.7% and 0.9% respectively.
  • JP Morgan however is maintaining its optimistic outlook for miners in the medium term.
  • Banks are down 16% in November so far. Banks continue to be under pressure as investors are nervous about news that the US Federal Reserve is planning to test six of the largest banks against hypothetical market shock.
  • Elsewhere, defensive stocks are dominating, with Centrica, Scottish and Southern Energy and Imperial Tobacco doing well.
  • In economic data, US durable goods orders will be released at 1.30pm (UK time), followed by the University of Michigan Consumer Confidence survey at 2.55pm (UK time).

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