We end the week with the FTSE 100 easing off slightly
Mansur Chowdhury April 13, 2012 4:00 PM
<p>After experiencing a rally over the last two days, since Tuesdays heavy falls, we end the week with the FTSE 100 easing off slightly, with […]</p>
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- After experiencing a rally over the last two days, since Tuesdays heavy falls, we end the week with the FTSE 100 easing off slightly, with similar falls seen across European indices also.
- The FTSE100 is trading lower 25 points at 5690, the DAX is trading lower by 35 points at 6700, and the CAC is lower by 20 points at 3240.
- It appears the falls across major markets is a reaction to China’s GDP data released overnight missing expectations, and showed that their economy grew at its slowest pace in almost 3 years during the first quarter.
- Despite that, however, miners are amongst the FTSE risers, but oil firm Royal Dutch Shell is the biggest riser at just a percent. This is following news of an oil sheen spotted near its operations in the Gulf of Mexico.
- The biggest faller so far is Sage Group following a broker downgrade, joined by a host of banking stocks.
- Gold is down by 0.2% at 1672, US Crude Oil is down by 0.5% at 10310. Dollar index is stronger this morning, EUR/USD is lower by 30 pips at 1.3161, and GBP/USD is lower by 30 pips at 1.5928.
- As far as economic data is concerned, keep an eye out for US CPI figures that will be released at 1.30pm GMT and the Michigan Consumer Sentiment Index at 2.55pm GMT.