We end the week with the FTSE 100 easing off slightly

<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.

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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