FTSE flat on news that UK GDP shrank 0.3% in last quarter; Premier Foods down 14%
Trading Floor News January 28, 2013 4:30 PM
<p>Watch Daniel Lewis on Monday 28th January as he brings you all the latest news from the City Index trading floor. Losses can exceed your […]</p>
The video cannot be shown at the moment. Please try again later.
Watch Daniel Lewis on Monday 28th January as he brings you all the latest news from the City Index trading floor.
Losses can exceed your deposits.
The FTSE is pretty much flat this morning, up just a few points at 6288 after strong gains last week were dampened by news that GDP shrank 0.3% in the UK in the last quarter of 2012.
The DAX and CAC are doing slightly better, up 15 and 10 points respectively at 7867 and 3781, with all markets being buoyed by confidence about China.
Wall Street closed up 70 points at 13895, thanks to strong corporate results from companies such as Proctor and Gamble, which gained 4%.
Also worth noting, the SP 500 has just broken the important 1500 level as it continues edging towards 2007’s all-time high of 1576.
Back in the UK, Premier Foods started off the session down over 14% as it announced that its chief executive Michael Clarke had resigned. The company has since recovered a little to down just under 9%.
Similarly Easyjet was down 1.6% after the airline announced its chairman Sir Mike Rake would stand down in the summer.
At the bottom of the FTSE 100, outsourcing company Capita Group has taken a 2% hit after being cut to a ‘sell’ by Cannacord Genuity.
Earnings season is still in full swing this week, with hopes high that strong reports continue.
Today’s big results include Centamin Egypt and Yahoo in the US, although for big UK results we’ll have to wait until later in the week, with Thursday being a big day.
Finally, watch out for core durable goods and pending home sales data in the US at 1.30pm and 3pm GMT respectively.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.