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>
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- 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.
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