The FTSE is still trading quite flat

<p>In early trading this morning, the FTSE is still trading quite flat, at the moment just short of the psychological 5700 level. It appears investors […]</p>

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  • In early trading this morning, the FTSE is still trading quite flat, at the moment just short of the psychological 5700 level.
  • It appears investors are cautious and all eyes are on the ECB and Bank of England’s meetings this afternoon. Although the MPC is predicted to keep the bank rate at 0.5%, the BoE is almost certain to raise the size of asset purchases by £50 billion to £375 billion.
  • The FTSE this morning trading at 5694, about 10 points up. The German DAX is at 6590, about 15 points up, and the CAC is at 3260 up by 5 points.
  • Topping the leaderboard is engineering group GKN. This is on the back of news they’ve acquired the aero division of AB Volvo for £633million, and their shares are currently up 11% at 207.7p. They’ve also received a broker upgrade to Buy from Arden Partners.
  • The cautious sentiment in the markets is also reflected in commodities and currencies. With gold currently at 1617, up only 0.1% with the dollar index unmoved this morning against the major currencies.
  • Later on in the day keep your eyes on jobless figures from the US.
See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.


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