Main focus will be on the US Presidential election tomorrow
Trading Floor News November 5, 2012 3:40 PM
<p>- Shortly after the market opened, the FTSE was down around 26 points at 5843, a difference from last week’s rise for the index as […]</p>
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- Shortly after the market opened, the FTSE was down around 26 points at 5843, a difference from last week’s rise for the index as it rose 1.6% present and struggles to hold on despite the better than expected jobs figures on Friday.
- The main focus will be on the US presidential election tomorrow, as this will be dominating the markets when looking at the major indexes, Investors will be trading cautiously till the results are given.
- Analysts and some investors believe that the markets would do better in the short term if Romney is elected focusing on stocks, and if Obama wins it would favour bonds, Latest polls show that it’s a very close call, plenty of planning for investors as markets remain uncertain.
- Greece’s Prime Minister Samaras has now stated that the country could be forced to leave the euro if there is no approval for a new round of austerity measures in a vote on Wednesday.
- The Greek parliament is voting on a package of 13 billion euros in spending cuts, tax hikes and other alterations. Greece must get support of the package and its 2013 budget to achieve help from the EU and the international monetary fund.
- If the new measures are taken into concern, the stress of Greece returning to the drachma will conclude, and as this whole process has been very unstable, confidence will return.