FTSE Falls Below Psychological Level
City Index August 19, 2011 4:38 PM
<p>The FTSE 100 opened negative this morning and is currently trading down 120 points. The DAX is trading down 164 points, the CAC is down […]</p>
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- The FTSE 100 opened negative this morning and is currently trading down 120 points.
- The DAX is trading down 164 points, the CAC is down 55 points and Dow futures are currently down 152 points.
- The FTSE today has dropped below the 5000 psychological level on fears that a global slowdown would tip major economies into recession.
- Banks are the worst hit, with Lloyds down 7.7% and Barclays and RBS down 6%.
- In currencies, GBP/USD is trading at 1.6513, EUR/USD is trading at 1.4315 and USD/JPY is trading at 76.43.
- Gold is currently trading at 1860 per troy ounce, holding on to the highs of the week as investors rush towards safe-haven investments.
- Crude oil for September delivery is currently at $10951 per barrel.
- No major economic data is scheduled for release today.