The Dow Jones index FELL on Friday by 75 points to end the day at 12454
City Index May 28, 2012 2:53 PM
<p>The Dow Jones index FELL on Friday by 75 points to end the day at 12454. Investors have continued to be uncertain with the European […]</p>
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- The Dow Jones index FELL on Friday by 75 points to end the day at 12454.
- Investors have continued to be uncertain with the European outlook as Bankia, Spains fourthth Biggest bank, revised its 2011 results from a PROFIT of €300m to a €2.98b LOSS citing toxic property loans. The bank has approached the government to seek a bailout of €19b, which they insist to be an investment to return Bankia to a “solid, efficient and profitable” concern.
- We have seen a POSITIVE start from the European Equity markets as concerns over Greece leaving the European Union have slightly abated. Opinion polls from Greece suggest that the New Democracy Party, who SUPPORT the plans of an EU Bailout, are leading by as much as 5.7 percent over the anti austerity party of Syriza.
- The CAC is UP 30 points to 3078, with the DAX UP 74 points at 6414.
- The FTSE 100 has opened UP 50 points, at 5402 with Capita leading the way as UBS have upgraded their outlook to BUY from NEUTRAL. They are trading UP 17.5 pence at 628.5.
- The miners are showing POSITIVE gains today, with Rio UP 70 pence at £28.64 and Antofagasta UP 25 pence to £10.42.
- There is no US equity session today due to a bank holiday in the states, although the US futures will be trading through to 4.30pm in the afternoon.