FTSE falters over growing concerns for global growth
Fiona Cincotta August 28, 2012 3:40 PM
<p>- The FTSE is currently trading down 0.2% at 5763 this morning. The index ended last week in negative territory after three straight weeks of […]</p>
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- The FTSE is currently trading down 0.2% at 5763 this morning. The index ended last week in negative territory after three straight weeks of gains.
- Concerns about global growth are putting pressure on the markets after the Japanese government reduced its view on personal consumption/exports/ imports and industrial output, forecasting a contraction of between 0.3-0.9 for the third quarter GDP.
- Spain also reported negative GDP of 1.3% annual rate in the second quarter, as compared to estimates of 1%.
- On the FTSE, miners were out of favour as Morgan Stanley reduced its target price on ENRC, Kazakhmys, Vedanta Resources and BHP Billiton.
- Kingfisher was the top faller on the FTSE today, dropping 3.4% after being downgraded by Bank America Merrill Lynch.
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