Go to http://www.cityindex.co.uk/market-analysis/ for more trading insights from spread betting provider City Index. Here, Edward Dewhirst presents a round-up of the key activity shaping the markets on 19th October:
- As the FTSE closed Down 26 points yesterday, rumours over a deal between France and Germany to increase the EFSF have strengthened the fragile confidence of traders leading to a stronger session in the US
- The Dow Jones closed Up 180 points
- This has meant a stronger start here in Europe
- The FTSE is currently Up 60 points at 5470 while the German DAX is Up 76 points while the French Cac is Up 35 points
- Leading the FTSE are the banks with RBS the biggest gainer U4.5% while Lloyds is U3.75%
- BARC, STAN and HSBC are also Up between 3% and 1.5% respectively
- On the downside however, we have GKN, Down 4.5% as their results failed to impress and concerns on profit margins
- G4S are also Down 2.5% as investors still unsure over their acquisition of ISS.
- On the macro front we had UK Bank Rates at 9.30 which were unanimously kept the same at 0.5 while at 1.30 we have US building permits to keep an eye on.
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