FTSE opened this morning 25 points higher at 6291
Trading Floor News February 22, 2013 3:30 PM
<p>- With a positive start in today’s trading session, we saw the FTSE open 25 points higher at 6291. With its biggest retreat since July […]</p>
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- With a positive start in today’s trading session, we saw the FTSE open 25 points higher at 6291. With its biggest retreat since July 2012, the FTSE closed down just short of 104 points in yesterday’s session, amid news from the Fed of a slow, yet meaningful retreat from their bond-buying program.
- Among the FTSE’s fallers, mining moguls BHP Billiton and Rio Tinto fell around 3.5%, with Barclays also closing down 4.5%. The FTSE demonstrated a little resilience though, courtesy of BAE systems that were among the leading risers at 4.1%. The rally came shortly after it announced healthy profits that exceeded analysts’ expectations.
- In Europe, poor manufacturing output, following fears from the US, led to declines in all 19 industry sectors within the STOXX 600 – closed down 1.5% at 284.01. Germanys DAX posted similar losses in yesterday’s session, closing down 1.9% at 7583. In today’s session, both showed gains of 18 and 36 points respectively.
- Across the pond, the S&P 500 closed down 0.63% at 1502 – posting its heaviest two-day loss since late 2012 – the Dow followed suit, closing down 3.4% at 13880.
- Tech giants eased the fall, with the NASDAQ leading the pullback closing up, at 3131.
In the currency markets, the Euro fell to a six-week low; trading south of $1.32 at yesterday’s lows.
- Canada’s loony declined to 1.019 to the dollar, following poor results from commodities. In Asian markets, the Yen advanced 0.5% to 93.08 to the dollar.
- With no other impending data to report, traders appear to remain cautious toward the equity markets – with all eyes firmly on the US.
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