Global markets start on a positive note despite Asian slump
Trading Floor News February 5, 2013 4:34 PM
<p>- Markets across the globe are off to a positive start this morning despite Asian markets slumping on the back of a disappointing start to […]</p>
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- Markets across the globe are off to a positive start this morning despite Asian markets slumping on the back of a disappointing start to the week.
- Discouraging factory orders from the US yesterday saw the Dow Jones, German Dax and FTSE 100 experience their worst day so far this year. At approximately 8:30am this morning, however, they seem to have started a recovery – on average all up around 0.25%.
- The FTSE 100 is seen trading around 6270, with ARM holdings comfortably topping the leaders, up 6.1% due to the release of there fourth-quarter profits.
- On the other hand BG Group is amongst the top losers as they reported earnings down as much as 29%, resulting in them currently trading down 1.7% and as low at 1066 this morning.
- Elsewhere in Europe it may be worth keeping an eye out for Swiss Bank UBS as they posted a fourth quarter loss of just over $2 billion after booking a fine for trying to rig global interest rates and costs tied to job cuts, however, this doesn’t seem to have affected their share price too much this morning, which is only down 0.45%.
- There isn’t too much to keep an eye out for today with regards to economic data, we have Services Purchasing Managers Index from the UK released at 9:30am and later this afternoon we have the Institution for Supply Management Non-manufacturing PMI data from the US at 3pm.
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