FTSE marginally higher as investors eye Apple results in the US later today
Trading Floor News April 23, 2013 5:44 PM
<p>- The FTSE was up around 9 points at 6289 this morning, with most European stock markets trading higher. – The markets have ignored disappointing […]</p>
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- The FTSE was up around 9 points at 6289 this morning, with most European stock markets trading higher.
- The markets have ignored disappointing Chinese manufacturing data, with the purchasing managers’ index falling from 51.6 to 50.5 in April, coming out worse than expected.
- ARM Holdings topped the leader board, rising 64.5p; AB Foods improved 16.5p, with total sales at Primark rising 24% ahead of the same period last year, including 7% like-for-like sales showing a very strong performance supporting the FTSE.
- With the markets trading higher, investors took a step back this morning, waiting cautiously as attention was focussed on PMI data from Europe. The market is looking closely at the data to provide guidance on a possible ECB rate in the coming months.
- The euro fell 0.3% and German bonds rose as the data revealed a slowdown in business for Germany and China, hitting commodities as this adds to further growth concerns.
- Focus for the rest of the day will be on Apple reporting at 9.30pm GMT this evening.
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