Government RBS shares sale five years away

<p>Good morning, this is the City Index Market update for Monday, 12th of August with me, Iain Fry. The Dow finished down 72 points on […]</p>

The video cannot be shown at the moment. Please try again later.

Good morning, this is the City Index Market update for Monday, 12th of August with me, Iain Fry.
The Dow finished down 72 points on Friday but it did seem to close more strongly than the previous two sessions.

European markets are broadly in line with the levels at which they closed on Friday, with the Dax trading down 13 points at 8324 and the FTSE trading up eight points at 6591.
The dollar has strengthened against the pound, euro and yen.

The first important news release of the week was the preliminary Q/Q GDP figures from Japan. It came in at 0.6%, which was worse than the 0.9% predicted. This unsettled the Asian markets and the Nikkei closed down 95 points at 13519.

The biggest gainer on the FTSE so far today is Fresnillo, which has bounced after a bad week. RBS is also up 1.1% after Vince Cable commented that any government selling of their holdings is at least five years away.

The main news to watch out for today is the US Federal Budget balance at 7pm BST.

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (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.

For further details see our full non-independent research disclaimer and quarterly summary.