UK equities slide on weak data from Asia

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Source: Dukascopy Bank SA
UK shares slide on Monday despite speculation that the Fed and POBC will loosen their monetary policies. Meanwhile, market participants remained cautious ahead of the decision of the Federal Constitutional Court regarding suspension of EUR500 billion fund. The court is due to report its decision on Wednesday. The FTSE 100 Index dropped by 0.03% to trade at 5,797.38. Five sectors within the index climbed. The top-performer was basic materials sector. Anglo American, Eurasian Natural Resources and Rio Tinto advanced 2.33%, 1.62% and 2.98%. Meanwhile, Glencore dropped by 0.95% while Xstrata rose 2.27% after Xstrata finally agreed on Glencore bid worth USD36 billion. Xstrata's CEO will leave the company in the next six months. At the same time, consumer goods and health care sectors slumped. Associated British Foods and Diageo plunged 2.07% and 0.47% while AstraZeneca and Shire dropped 0.74% and 0.57%.

 

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Mon, 10 Sep 2012 16:47:45 GMT

German shares flat after previous rally

German stocks were flat on Monday ahead of the Federal Constitutional Court decision on ESM due on Wednesday.  Dismal economic data releases from the US, China and Japan weighted down on growth-sensitive assets.  At the same time, speculation that the Fed and POBC will announce easing measures to revive economy boosted German shares. The German DAX Index gained 0.01% to

Mon, 10 Sep 2012 19:21:43 GMT

The Euro lower versus the U.S. dollar on Fed expectations

On Monday, the 17-nation currency was lower versus the Greenback, but remained supported as disappointing U.S. data fueled expectations of further Fed stimulus. EUR/USD hit a session's low of 1.2700, and subsequently consolidated at 1.2778, losing 0.29% in European afternoon trading session. The pair's support was likely to be at 1.2625, while resistance could be at 1.2816.

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