Twitter is alive with yesterday’s comments from the IMF
City Index October 9, 2012 3:00 PM
<p>- Well, after yesterday’s sell off, the markets have started this morning in a mixed manner. We currently have Mario Draghi speaking in Brussels and […]</p>
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- Well, after yesterday’s sell off, the markets have started this morning in a mixed manner. We currently have Mario Draghi speaking in Brussels and while the market digests this information, Twitter is alive with yesterday’s comments from the IMF suggesting that not only will the crisis will last longer, but the global economic slowdown is worsening.
- This news has weighed heavy on the markets which started in a more positive manner after news from China suggesting that they will introduce further stimulus measures.
- Currently the FTSE is down 27 points at 5816 while the German Dax is worse off, down 55 points at 7241. Dow futures are also pointing towards a negative start, trading around 13,538.
- The biggest gainer on the FTSE is currently Marks and Spencer, up nearly ¾% as the retail sector posted a profitable month and their expectation is positive for a bumper Christmas.
- IMI however are the biggest fallers, off ¾% this is despite Morgan Stanley reaffirming their overweight status on the stock.
- In other news, a deal has been agreed between Barclays and ING to sell ING Direct to the UK banking giant with both stocks fairly neutral on the day.
- At 9.30am this morning we also have UK manufacturing data punctuating an otherwise fairly quiet day on the macro front.
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