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Showing posts with label ADVFN III Morning Euro Markets Bulletin (February 4. Show all posts
Showing posts with label ADVFN III Morning Euro Markets Bulletin (February 4. Show all posts

Feb 4, 2013

ADVFN III Morning Euro Markets Bulletin (February 4, 2013).


ADVFN III Morning Euro Markets Bulletin
Daily world financial news Monday, 04 February 2013


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London open: Banks weigh on the Footsie early on
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  • techMARK 2,287.96 -0.11%
  • FTSE 100 6,332.52 -0.23%
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The FTSE 100 slipped into the red in early trading on Monday morning as investors took a breather after the impressive rally seen so far in 2013.

Since the start of the year, the index has risen a whopping 7.62% and is now trading at levels not seen since mid-2008.

"We may see a break in the recent stock market rally this week, as corporate earnings season begins to wind down and focus turns to the Eurozone," said market analyst James Hughes from Alpari.

"Corporate earnings season has been a major driver behind the stock market rally over the past month, and with that now coming to an end, we could now see the rally run out of steam. Economic data has been quite mixed over the past few weeks, with the fiscal cliff in the US taking its toll on everything from sentiment to consumer spending."

Nevertheless, Hughes did highlight Friday's jobs report from the US as a positive, which showed huge upward revisions to previous months' data.

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