Miners weigh down the FTSE as traders eye FOMC announcement
Trading Floor News July 10, 2013 4:03 PM
<p>The FTSE 100 is seen up five points, trading at 6529 during the first half hour of the day. Burberry is substantially topping the winners […]</p>
The video cannot be shown at the moment. Please try again later.
The FTSE 100 is seen up five points, trading at 6529 during the first half hour of the day. Burberry is substantially topping the winners table, opening up 5.69% after releasing its interim management statement which claimed that the company’s retail sales increased by 21% during the first quarter.
Three of the top five losers this morning are miners, with Randgold Resources down 1.47%, Vedanta down 2.1% and Fresnillo down 3.79%, forcing the mining sector as low as 14486 upon the open – down 158 points.
The Dow Jones was seen trading at 15298 and the Dax at 8063 – both little changed. However the markets are likely to be highly volatile this afternoon as we have the 10-year bond auction from the US at 6pm BST, followed by FOMC meeting minutes at 7pm and Fed Chairman Ben Bernanke making a speech shortly after 9pm.
GAIN Capital UK Limited (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.