We return from the long Bank holiday weekend on a slightly cautious note

<p>We return from the long Bank holiday weekend on a slightly cautious note In Europe, we see the FTSE trading lower so far by 20 […]</p>

The video cannot be shown at the moment. Please try again later.

  • We return from the long Bank holiday weekend on a slightly cautious note
  • In Europe, we see the FTSE trading lower so far by 20 points from Fridays close, currently at 5640. So it’s investors first opportunity to react since before the weekend. And since even further political and economic woes in Greece and the French elections
  • The German DAX is around 50 points down from yesterday at 6520 and the CAC around 36 points lower from yesterday
  • The biggest risers on the FTSE are Tullow Oil and Aviva. Tullow Oil has discovered further oil and said its recent Kenya oil find may prove to be the largest yet in East Africa. The company’s shares are up just under 4% at 1524.
  • Aviva CEO Andrew Moss has announced he is stepping down with immediate effect, and we see Aviva shares up 3.7% at 313
  • The biggest faller so far this morning is fund manager Man Group which is down 3.7% at 85.4p, joined by a host of mining firms
  • Amidst the political uncertainty in Europe, it appears the dollar index is showing strengths against other major currencies, with EUR/USD lower by 0.3% at 1.3025 and GBP/USD also lower by 0.3% at 1.6148
  • The price of gold has also fallen by 0.5% to 1630, and US crude oil is down over 1.2% at 9680
  • Major economic data will be German Industrial Production figures at 11am GMT, and broadcast later will be from the European Monetary Union, with ECB President Draghi speaking at 1.30pm 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.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (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.

For further details see our full non-independent research disclaimer and quarterly summary.