FTSE led higher by Lloyds; Shell slides after announcing Q2 earnings loss
Trading Floor News August 1, 2013 6:37 PM
<p>Last night the Fed confirmed that they intend to maintain their $85bn Bond Buying Pace and the BoE has just announced that they will maintain […]</p>
The video cannot be shown at the moment. Please try again later.
Last night the Fed confirmed that they intend to maintain their $85bn Bond Buying Pace and the BoE has just announced that they will maintain their current level of asset purchases. The FTSE is currently trading up around 30 points at 6638 and Dow Futures are up 87 points, trading at 15593.
The FTSE is being led upwards by Lloyds, who announced that they made a £2.1bn profit for the six months to the end of June. This compares to a loss in the same period in 2012 of £456mn. Royal Dutch Shell was one of the big losers of the session so far after announcing a fall in profits for second quarter earnings, which were down $1.1bn.
Aggreko shares also fell this morning after the company stated that they are taking a cautious approach to business in the second half of the year but stated that year end expectations should be in line with predictions. After an initial spike post the FOMC announcement, EUR/USD has moved lower and is currently trading at 1.3240. Cable demonstrated a similar pattern but the pound has strengthened this morning and is trading at 1.5187.
The minimum bid rate for the eurozone will be announced at 12.45pm and the ECB will be holding a press conference at 1.30pm. We also have an ISM manufacturing figure from the US at 3pm. That’s it for today, we will be back tomorrow with another update.
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.