FTSE drops, led by banking shares

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Source: Dukascopy
After dropping 0.5% on Tuesday, UK FTSE 100 Index extended losses on Wednesday, giving up 0.7% to 5,714.8, pushed down by banking shares amid report showing country's GDP contracted 0.2% in 4th quarter. Royal Bank of Scotland Group PLC and Lloyds Banking Group PLC each dropped 3%, while Barclays PLC slipped 1.7%. On the upside were property stocks with Land Securities Group PLC adding 1.6% and Hammerson PLC climbing 1.3%. At the moment of writing UK benchmark index is 0.59% or 33.98 points down at 5,717.92. 

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Wed, 25 Jan 2012 17:34:24 GMT

Precious metals tumled on firmer US Dollar and higher risk aversion

Precious metals tumbled on Tuesday amid stronger US Dollar and increased risk-aversion among investors after failure to agree on the Greek debt swap. Investors also await Fed decision on the monetary policy in the US. Physical demand for precious metals remains weak due to Chinese New Year. However, traders from India and Thailand may take advantage of lower prices and

Wed, 25 Jan 2012 16:27:16 GMT

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