US exchanges remain closed awaiting hurricane Sandy
Trading Floor News October 29, 2012 4:00 PM
<p>- With the super-storm Hurricane Sandy pelting the Eastern Seaboard, the US exchanges have decided to remain closed – This has prompted a relatively quiet […]</p>
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- With the super-storm Hurricane Sandy pelting the Eastern Seaboard, the US exchanges have decided to remain closed
- This has prompted a relatively quiet start to the week with Twitter focussing more on the hurricane and its potential impact on the imminent election than the weak Asian trading session
- Currently we have the FTSE down 27 at 5783 while the German Dax is down 30 at 7198
- Only a handful of stocks in the FTSE are currently in positive territory with Sage Group the biggest gainer after Citi Group raised the stock to a buy. They are currently trading 0.25% higher
- As the financials continue to suffer as they did on Friday, the biggest faller this morning is Hargreaves Lansdown
- The stock is currently off 4% after Citi Group not only cut their rating to Sell, but also reduced their target price to 620p
- News out from Switzerland that UBS are planning to cut up to 10,000 jobs is another weight on the struggling financial sector
- With no major economic data due for release, traders with be closely following the developments of Hurricane Sandy with everyone hoping that it passes without any further tragedies.
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