Markets worried over ECB’s ability to deliver
Fiona Cincotta September 5, 2012 4:10 PM
<p>Watch the latest market news from the floor of City Index with Fiona Cincotta. Headlines include: – FTSE trading lost 6 points on ex-dividend but […]</p>
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Watch the latest market news from the floor of City Index with Fiona Cincotta. Headlines include:
- FTSE trading lost 6 points on ex-dividend but is trading is also down 0.5%
- The index is steadying after sharp falls in the previous session, where it closed below 5700 for the first time since August 2.
- This drop reflects investor concerns over the ability of the ECB to deliver the goods on the bond buying scheme.
- This uncertainty means that risk off is the short term strategy implemented, so miners are suffering particularly this morning.
- BP has lost 4% as the US department of Justice has ramped up its rhetoric against BP for the oil spill in 2010.
- It’s a quiet day with regards to economic data both here and in UK.
- Attention will firmly be on the ECB meeting tomorrow.