Slight gains from yesterday roll through to today
City Index October 4, 2012 4:30 PM
<p>- The slight gains that we saw yesterday have rolled through to today, albeit in fairly quiet trading. With a rift of macro data due […]</p>
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- The slight gains that we saw yesterday have rolled through to today, albeit in fairly quiet trading. With a rift of macro data due later, traders are somewhat sitting on the fence awaiting the rate decisions from the BoE and the ECB at 12 and 12.45 respectively.
- With no change expected, traders will also be looking towards the ECB press conference at 1.30pm for more indication on the state of Europe.
- With the defensive stocks leading the way yesterday, today sees the retail sector leading the FTSE which is currently 15 points higher at 5840.
- Next is the biggest gainer, up 1.5% while we also see Kingfisher, Marks and Spencer, Whitbred and Assocatated British Foods between 1 and ½% higher.
- On the downside, however, we see BHP Billiton, off 1% as the mining behemoth considers a stake in Petrobras’s Gulf of Mexicos oil field.
- Rio Tinto, Rangold Resources and Anglo American are all down between ¾ and ¼ of a % respectively. However, with the central bank announcements to come, not to mention US initial jobless claims at 1.30pm, Factory orders at 3pm and then the FOMC meeting minutes released at 7, there is plenty for this market to get excited about later on.
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