Major indices trade lower as investors take profits
Mansur Chowdhury October 2, 2012 4:08 PM
<p>- After yesterday’s strong gains across the board, it appears this morning that investors are profit taking as we see major indices trading slightly lower. […]</p>
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- After yesterday’s strong gains across the board, it appears this morning that investors are profit taking as we see major indices trading slightly lower.
- In particular, the banking and financial sector has seen falls after strong performances yesterday, since the Spanish bank stress tests last week.
- The FTSE is 15 points down at 5803, the DAX is 17 points down at 7318, with the CAC at 3416 10 points down.
- Babcock International is the biggest riser so far after announcing its first-half trading to be positive, and remaining confident of meeting expectations for this financial year. The company’s share price is currently trading higher by 3.5%.
- Randgold Resources is also amongst the leaders, up about 2.5%, continuing its very impressive rally, trading today at new highs of 7870p.
- RBS is the biggest faller, down by 2.3%, along the financials.
- Still pretty flat in terms of price movement, with gold, the dollar index and currencies, it appears investors are awaiting major economic figures a bit later in the week.
- Later on, keep an eye out for the Eurostat PPI figures, to be published this morning.
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