UK equities fell after GDP data

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Source: Dukascopy Bank SA
UK stocks halted previous rally on Friday as hopes for QE3 in the US started to vanish. Meanwhile, traders are anticipating an outcome of meetings between Greek, German and French leaders regarding Greek bailout program. Adding to the negative mood of the UK stocks, UK preliminary GDP shank by 0.5% in Q2. The FTSE 100 Index lost 0.16% to trade at 5,764.91. Four in ten sectors included in the index rose. The top-gainers were health care and utility firms. Smith & Nephew added 1.14% while Centrica and National Grid gained 1.30% and 0.44%. Food producers were mainly higher, with Associated British Foods, Diageo and TESCO advancing by 0.53%, 0.85% and 0.28%, respectively.  On the downside were basic materials led by Eurasian Natural Resources. The company fell after ING Group NV reported that miner in Kazakhstan may need to sell some of its assets or raise capital though new equity, as debt burden is escalating. Other miners also fell, with Rio Tinto, BHP Billiton and Antofagasta dropping by 2.89%, 2.14% and 2.08%, respectively.

 

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Fri, 24 Aug 2012 12:36:56 GMT

Aussie falls on mining concern

Aussie declined to a month low as the RBA Governor Glenn Stevens mentioned the currency would most likely decline if the nation's mining boom was to faint. Australia's Dollar dropped 0.5% to $1.0392, after reaching $1.0388, the least since July 27. It fell to NZ$1.2819, the lowest since July 12. The Kiwi slipped 0.3% to 81.02 U.S. cents.

Fri, 24 Aug 2012 13:34:56 GMT

Chinese stocks plunged after Fed official's comments

The Hang Seng Index tumbled to the lowest level since March 2009 amid weak earnings reports and comments from St. Louis Federal Reserve President James Bullard. The Fed official said that it is too early to be certain about QE3 taken recent upbeat US data releases. The Hang Seng Index sank by 1.25% to end the week at 19,880.03. All

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