The FTSE is still trading quite flat
Mansur Chowdhury July 5, 2012 10:22 PM
<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.