The markets lack direction and end with moderate gain
City Index April 17, 2012 3:52 PM
<p>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 […]</p>
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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.
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