Mirrored losses in the US and Asia
City Index September 26, 2012 3:00 PM
<p>- A late sell-off in America and mirrored losses in Asia on the back of negative comments made by Charles Plosser from the Fed has […]</p>
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- A late sell-off in America and mirrored losses in Asia on the back of negative comments made by Charles Plosser from the Fed has led to a weak start this morning in Europe.
- With Centrica, Morrisons and RSA Insurance all going ex-dividend this morning, taking 1.73 points off the index, we see the FTSE at 5805, just shy of 1% down.
- Europe is harder hit with the German Dax down 1.5%, the French CAC down 1.8% while the Spanish IBEX is down 2.5% as rioting in Madrid turns violent.
- On the FTSE, unsurprisingly, RSA is the biggest faller having lost their dividend attraction – they are currently 3.8% down.
- It is the miners, however, who are providing the biggest pull on the FTSE with heavyweights Anglo-American, Rio Tinto and Kazakhmys all losing between 3 to 2.5% respectively. RBS also find themselves down over 3% in early trading.
- With US New Home Sales at 3pm and Oil Inventories at 3.30pm, they are likely to be the major breaks in another fairly range bound day.
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