Investors attention returns to the US fiscal cliff
Trading Floor News November 28, 2012 3:40 PM
<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>
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- 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.
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