With a fairly slow start to trading this morning

<p>With a fairly slow start to trading this morning, the largely range bound market is struggling for direction. Both the German Dax and FTSE 100 […]</p>

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  • With a fairly slow start to trading this morning, the largely range bound market is struggling for direction. Both the German Dax and FTSE 100 have been see-sawing back and forth across the gain line as we currently see the FTSE down 1 point and the DAX down 7 points. This is despite the Asian session providing further hopes that Beijing would roll out a stimulus package.
  • Atop the FTSE we have Weir Group, 1.5% higher after brokers reaffirmed their buy stance on the stock. Miners are also performing quite well, recovering from yesterday’s sell off on the back of potential Chinese stimulus.
  • However, weighing down the FTSE we see Carnival and Admiral Group, both down around 1.5%. With very little happening in Europe, twitter is focussing on the dull markets we currently have in comparison with this time last year.
  • Later on this afternoon we have US initial jobless claims and new building permits at 1.30pm while the Fed manufacturing index at 3pm will also be closely watched.

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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