There was a slightly more positive feel this morning as the FTSE opened at 5334.5
City Index June 1, 2012 2:45 PM
<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>
The video cannot be shown at the moment. Please try again later.
- 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.
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.