There was a slightly more positive feel this morning as the FTSE opened at 5334.5

<p>There was a slightly more positive feel this morning as the FTSE opened at 5334.5. This was on the back of American stocks stabilising at […]</p>

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  • There was a slightly more positive feel this morning as the FTSE opened at 5334.5. This was on the back of American stocks stabilising at the end of yesterday’s session amid new plans in the eurozone to stabilise the Spanish Economy.
  • This was supported by strong performances from Man Group and Admiral, as well as BP whose shares jumped 4% on the open after revealing that it was looking to offload its stake in the TNK-BP Russian enterprise.
  • The DAX started todays session a little apprehensively as there were continued fears that Europe’s largest economy may be struck by the Eurozone debt crisis. It is currently at 6165.
  • The CAC opened slightly higher- currently at 2996.
  • The DOW closed yesterday at 12431, which was up around 12 points on the previous session.
  • A further blow to the global economy was revealed this morning as China’s growth rate slowed to to its lowest point this year.
  • Today we have the manufacturing PMI figures for the UK coming out soon, and as previously mentioned, we can expect it to be fairly quiet this morning as investors look towards the Non farm Employment Change and the Unemployment Rate at 1.30.
  • The Non-Farm is forecast at 151K, and after disappointing figures yesterday there is continued unease surrounding growth in the US economy.
  • If this data is worse than expected, this could add weight to speculation for QE3.

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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