With a fairly slow start to trading this morning
City Index August 16, 2012 7:52 PM
<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.
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