Major indices are trading somewhat flat to slightly higher this morning

<p>After steep falls yesterday, major indices are trading somewhat flat to slightly higher this morning, with UK GDP figures in focus a bit later this […]</p>

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  • After steep falls yesterday, major indices are trading somewhat flat to slightly higher this morning, with UK GDP figures in focus a bit later this morning.
  • FTSE is up first thing, by 0.3% at 5865, with the DAX up 0.5% at 7090 and the French CAC up 0.6% at 3480.
  • The biggest fallers on the day are dominated by Insurers and miners, mainly due to some of those stocks going ex-dividend today. RSA Insurance Group down 5%, and Prudential down over 3%.
  • Amongst the miners Anglo American is down over 2.5%, incidentally reaching a new 3-month low against the FTSE.
  • The risers in the market this morning dominated by stocks generally seen as defensive, with the likes of Reckitt Benckiser, Glaxosmithkline and Unilever all trading higher by just under a percent.
  • In company news, Petropavlovsk posted full year results, they announced they doubled their total revenue to $1.3B in 2011, and earnings per share increased to $1.23, 11 times more than the previous year, and their share price currently 4% up trading in the FTSE250.
  • Gold is trading flat at 1683, with US Crude Oil also flat at 10671. Sterling against the dollar is still flat this morning at 1.5940, with the euro creeping up against the Dollar by about 30 pips at 1.3357.
  • As well as the UK GDP this morning, keep an eye out for German CPI figures at 1.30pm GMT, and US Durable Goods Orders also at 1.30pm GMT.

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

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