Investors attention returns to the US fiscal cliff

<p>- Even though we did see markets pretty bullish last week, driven by the Greek deal. This week the sentiment has continued to dampen as […]</p>

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

- Even though we did see markets pretty bullish last week, driven by the Greek deal. This week the sentiment has continued to dampen as investors attention returns to the US fiscal cliff.

- As a result, a lower start has been seen across major European indices today also.

- The FTSE is at 5777, 23 points lower, the DAX is at 7317, so 30 points lower with the CAC at 3487 so also 25 points down.

- The biggest risers are ARM Holdings and United Utilities. ARM Holdings are up 1.5% at 769, at a three-month relative high against the FTSE, and United Utilities revealed a 3% increase in annual pretax profit.

- The biggest faller is logistics group Bunzl; they’re trading lower by 3.5% at 1035. They’ve had a downgrade from Citigroup and price target revised downwards. A general “risk-off” sentiment in the markets today with metal prices easing and mining firms lower as well.

- In economic data, keep your eyes in EUR Consumer Price Index figures to be released at 1pm, and also the US Feds Beige Book report in the evening UK time.

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.