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>
The video cannot be shown at the moment. Please try again later.
- 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.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.