Further fears over the eurozone hit financial markets yesterday

<p>As further fears over the eurozone hit financial markets yesterday, equity markets experienced choppy trading amidst heavy volume A rally into the close saw the […]</p>

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  • As further fears over the eurozone hit financial markets yesterday, equity markets experienced choppy trading amidst heavy volume
  • A rally into the close saw the FTSE end off the lows, down 24 at 5530, with the DJIA down 97 points at 12,833, having been down over 1.5% in earlier trading
  • With lighter volume so far this morning, Europe is better off with the FTSE slightly up at 5537 and the German Dax up half percent
  • After yesterday’s selling pressure, Lloyds has recovered 2.2% to be the biggest gainer so far on the FTSE
  • Legal and General is also strongly up, 2% higher after a reshuffle on the board has traders more confident in the insurer
  • Rolls Royce, however, is the biggest faller, down around 2.2%, continuing its decline since it reported last week
  • With a very busy day ahead from a macro-economic perspective, in the UK we have manufacturing data at 9.30am and the bank rate at 12noon
  • While in the US, we have trade balance and initial jobless claims at 1.30pm
  • Later on in the day, traders will be anxious to hear what Ben Bernanke has to say, with many hoping for more indication on QE3.

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

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