FTSE 100 lower on telecommunications and miners

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Source: Dukascopy Bank
British FTSE 100 index traded lower on Friday, pushed down by mining and telecommunication shares. Kazakhmys PLC tumbled 4% after Societe Generale lowered miners stock rating from buy to hold, citing cost inflation and metals grade decline as threatening factors for the company. Vodafone Group slipped 1% amid talks about potential buyer of Cable & Wireless Worldwide. Unilever PLC lost 0.8% after Goldman Sachs downgraded European personal and household goods sector. On the positive side IMI PLC surged 2.7% after reporting a 19% increase in its pre-tax annual profit. At the moment of writing FTSE 100 is 0.27% or 16.08 points down at 5,915.17. 

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Fri, 02 Mar 2012 14:56:34 GMT

DAX 30 faces choppy session on Friday

German DAX index modestly declined on Friday, led by consumer service and telecommunication sectors. Metro AG slumped 2.8% while Deutsche Telekom gave up 0.9%. Car makers showed mixed performance as Daimler AG and Volkswagen AG added 0.4% and 0.3% respectively while BMW AG dropped 1%. Commerzbank supported the index on the upside climbing 1.5%. At the moment of writing German

Fri, 02 Mar 2012 13:55:02 GMT

Barclay's borrowed EUR 8.2 billion from ECB

Barclay's the third largest UK bank by assets reported it took EUR 8.2 billion from ECB to secure funding safety for its divisions in Portugal and Spain. Lloyds Banking Group Plc said it borrowed GBP 11.4 billion of three-year debt while Banco de Espana posted it got EUR 6.2 billion. HSBC Holdings Plc last month said it would apply for EUR 350 million.

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