The FTSE is up 0.3% so far today
Fiona Cincotta July 13, 2012 10:07 PM
<p>The FTSE is up 0.3% so far today. Commodity stocks got a boost after official data revealed that the Chinese economy grew by 7.6% in […]</p>
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- The FTSE is up 0.3% so far today.
- Commodity stocks got a boost after official data revealed that the Chinese economy grew by 7.6% in the second quarter, meeting market expectations. This has been the slowest pace expansion since the first quarter of 2009 and the sixth consecutive quarter of slower growth for the country.
- Benchmark indices in UK, France and Germany advanced and peripheral Europe experienced a pull-back after Moody’s downgraded Italy’s sovereign rating by two notches.
- In the UK, Burberry was the biggest rising stock as it is sensitive to developments in the Chinese outlook. United Utilities, on the other hand, fell out of favour following downgrade.
- No domestic data is scheduled to be released today, and all eyes will be on the University of Michigan consumer sentiment survey, to be released in the US at 2.55pm UK time.
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