Markets down on weak GDP data from France, Germany and Italy
City Index February 14, 2013 5:28 PM
<p>- The markets were down across the board this morning after weak GDP figures from France, Italy and Germany formed a pessimistic outlook. US unemployment […]</p>
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- The markets were down across the board this morning after weak GDP figures from France, Italy and Germany formed a pessimistic outlook. US unemployment claims are out at 1.30pm GMT today, which are forecast to be better than the last couple of weeks, so this may provide some lift later this afternoon.
- At 11am, the FTSE was at 6305 and the biggest risers and fallers within the UK 100 Index were Aberdeen Asset Management, who had climbed 2.5%, and Amec, who were down almost 6%. This was despite reporting an 11% rise in annual earnings.
- Rolls Royce found themselves in a similar situation, having dropped 2% in early trading after reporting a 24% rise in profits. Conversely, Rio Tinto reported a fall in profits, whilst shares gained 1.5% as the markets opened for trading as new CEO Sam Walsh assured investors that he is cutting costs. This had changed by 9.30am, however, and they currently stand down 1.80%.
- In currencies, sterling is down against the US dollar but is up 0.2% against the euro.
Finally, keep an eye out for news relating to G20 meetings, which begin tomorrow as these are likely to be of influence.
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