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>

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

  • 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.

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.