FTSE down around 16 points this morning

<p>- The FTSE is down around 16 points this morning as the IMF states that banks may need to shrink assets and miners fall – […]</p>

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- The FTSE is down around 16 points this morning as the IMF states that banks may need to shrink assets and miners fall

- Across on the continent the CAC and DAX have escaped relatively unscathed despite continued eurozone unease with France’s index down 3.5 points at 3374 and Germany’s down 3.5 too at 7222

- The Dow was harder hit closing down 110 points at 13473. Defence and Aerospace company BAE systems are down just over 1.5% as today’s 5pm deadline looms for talks between British, French and German governments about the planned mergers with EADS.

- The deal if it goes ahead would see the creation of the world’s largest company of its type. At the moment the deal seems close to collapse, however, as the three governments struggle to see eye to eye.

- Another stock to keep an eye on is Toyota which ended yesterday session down 1.9% after they announced the recall of 7.4 million cars worldwide – something which doesn’t bode well for its already dented reputation.

- Looking back at the UK banks are topping the leader board with Lloyds up 3.45% as the FSA relaxes its banking rules on capital requirement to increase lending.

- Finally, at 7pm this evening we have the US beige book coming out providing a strong indication of FOMC intention with regards to their next interest rate decision.

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