FTSE in the red over poor UK manufacturing data and negative jobs report from the eurozone
Trading Floor News March 1, 2013 5:18 PM
<p>- In Asia we saw stocks rising today. The expectations about monetary easing action by the Bank of Japan are optimistic. On the other hand, […]</p>
The video cannot be shown at the moment. Please try again later.
- In Asia we saw stocks rising today. The expectations about monetary easing action by the Bank of Japan are optimistic. On the other hand, commodities dropped as we had worse than expected manufacturing data from China.
- We had quite a bit of news this morning from Europe. German retail sales and Spanish manufacturing were positive but the Italian unemployment rate shifted up more than expected.
- The FTSE opened at 6360, then drifted up and fell after 9am due to bad manufacturing data from UK and a higher eurozone unemployment rate.
- Lloyds Banking Group losses narrowed to £570m from £3.5 billion the previous year. However, we saw Lloyds shares trading down by 3% after the opening bell. Other major banks were also down.
- Groupon chief executive Andrew Mason lost his job as the shares decreased in value significantly after a bad earnings report.
- Today despite the first Friday of the month we are not expecting the non-farm payrolls data from US, so be aware of that. Instead, US manufacturing PMI data will be out at 3pm GMT.
GAIN Capital UK Limited (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.