Investors took in the results from the German election over the weekend
Trading Floor News September 23, 2013 4:30 PM
<p>The FTSE 100 was down 15 points in early trading this morning alongside most European stock markets as investors took in the results from the […]</p>
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The FTSE 100 was down 15 points in early trading this morning alongside most European stock markets as investors took in the results from the German election over the weekend with victory for Angela Merkel on Sunday impacting the dax today settling around all-time highs.
We can see a negative start caused as comments from the Federal Reserve emerge that there could be a stimulus cut back in October, following a late sell off on Friday in the US as President James Bullard confirmed a delay to withdrawing monetary stimulus which was a shock to investors.
On the downside today National grid was the biggest faller in the index dropping 1.85% after UBS cut its rating on the utility company to neutral from buy on valuation grounds and commodity’s also fell, having some high straight sessions in the last 3 months, despite better than expected manufacturing from china.
On the upside fund manager Aberdeen asset management topped the leader board rising 2.5% following its latest trading update, the company said its funds has seen £1.2bn of withdrawals during July and august because on uncertainty over US monetary policy.
So a rather muddled and tentative start today with a lot of data to work with, and a heads up on economic data we will be expecting a talk from president of the European central bank, Mario Draghi at 2pm today.