The markets lack direction and end with moderate gain

After positive retail data from the US was paired with considerably worse than expected manufacturing data yesterday, the markets lacked direction and ended with moderate […]


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  • After positive retail data from the US was paired with considerably worse than expected manufacturing data yesterday, the markets lacked direction and ended with moderate gain – FTSE UP 0.3% while the Dow was up 0.5%.
  • With little taking place overnight in Asia, unsurprisingly the markets have opened fairly flat this morning. Traders are awaiting a rift of macro economic data due later on with UK CPI data at 9.30am GMT and German Economic sentiment at 10am GMT.
  • With a quick look at stocks we have the financials at the top of the gainers this morning with Barclays up 2% and Lloyds and RBS both UP 1.5%. Burberry are the biggest faller, off 4% after a trading update suggests a slowdown in the luxury retail market and a broker downgrade to hold from Merchant Securities.
  • With Spanish and Greek bond actions this morning and US building permits at 1.30pm GMT, it is likely to be a busy day ahead on the markets.

 
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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