The FTSE trades flat to slightly lower this Friday morning
Mansur Chowdhury March 2, 2012 4:46 PM
<p>Having closed strongly yesterday at around 5935 level, the FTSE trades flat to slightly lower this Friday morning by about 10 points. Elsewhere in Europe, […]</p>
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- Having closed strongly yesterday at around 5935 level, the FTSE trades flat to slightly lower this Friday morning by about 10 points.
- Elsewhere in Europe, the German DAX trading flat at 6940, and the French CAC is also trading within a flat range.
- The biggest riser on the day is utilities firm International Power; which along with its controlling shareholder GDF Suez Asia, has announced they have signed 30-year Power Purchase Agreements for two major geothermal projects with PLN, the state-owned utility of Indonesia. International Power is trading higher by 3%.
- Also trading higher is engineering firm IMI, which reported this morning that its revenues increased by 12% year on year, and dividends increasing by 15%. IMI are also one of the leaders this morning, up by 1.7%.
- Amongst the FTSE fallers, Kazakhmys is down by over 2%, along with miners XTA and Randgold Resources. GKN and Next are also trading lower.
- The dollar is showing some strength this morning so it is not surprising to see some of the miners amongst the fallers, with cable lower by 0.2%, and the euro against the dollar also down by 0.5%.
- It is a very light day on the corporate and economic data front, but figures to keep an eyes on would be with European Monetary Union PPI at 10am.