Positive start to the day as traders eye non-farm payrolls report in the US
Trading Floor News July 5, 2013 4:37 PM
<p>A positive start this morning in Europe as Wall Street reopened after the Independence Day Holiday. Investors are expected to have a quite interesting day […]</p>
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A positive start this morning in Europe as Wall Street reopened after the Independence Day Holiday. Investors are expected to have a quite interesting day waiting for the key non-farm payroll data due later this afternoon.
European stocks rallied after dovish signals from both the European Central Bank and Bank of England. The FTSE 100 is up 22 points. The German DAX 30 rose 0.1% and the French CAC 40 fell 0.2%.
The US dollar saw particularly strong gains against the euro and the British pound after the European Central Bank and Bank of England on Thursday indicated there were no plans in the pipeline to reduce monetary stimulus.
Gold fell 0.7%, feeling the weight of the US dollar’s advance ahead of the release of the widely watched monthly US jobs report.
Samsung Electronics Co Ltd has forecast weaker than expected profits for the April to June quarter, with a 3% dip in profit guidance.
British aero engine maker Rolls-Royce Holdings Plc has denied claims made by two former employees in a US lawsuit that it cut corners on quality control requirements and lied to customers.
Looking at economic data, attention will turn to the Labor Department’s employment report for June. European German Factory Orders will be announced at 11am GMT and later at 1.30pm GMT the change in US non-farm payrolls will be released.
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