Yen weakens against US dollar; traders eye UK CPI data
Trading Floor News August 13, 2013 2:03 PM
<p>The Dow closed down just five points yesterday and finished at 15419 largely thanks to Caterpillar rising 2.14% as investors began to see value in […]</p>
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The Dow closed down just five points yesterday and finished at 15419 largely thanks to Caterpillar rising 2.14% as investors began to see value in the share price after it was pushed lower on weak results announced last month.
Overnight, the yen has continued to weaken against the dollar and this has pushed Asian markets higher, with the Nikkei closing up 347 points at 13867.
The FTSE is up 28 points and the Dax is also trading up 57 points versus yesterday’s close.
The biggest riser on the FTSE is Resolution Ltd, who announced that they have made a profit of £191m in the first half of the year, which was higher than analyst expectations.
Old Mutual is the biggest loser of the session so far but has moved up since the opening bell and is now trading at 196.5p.
The main news announcements to watch out for today are UK CPI figures at 9.30am BST, German ZEW economic sentiment at 10am and finally retail sales figures from the states at 1.30pm BST.
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