Spreadex Market Update
FTSE edges towards flatness as BHS files for administration; Dow Jones set for limp open this afternoon
The BHS-inspired unease began to abate this Monday morning, the FTSE edging back towards the 6300 mark thanks to the gains made by the collapsing company’s rivals. The UK index also received a helping hand from the latest CBI industrial order expectations figure, which came in at a 4 month high of -11 against the -17 expected. The chances of the FTSE posting any actual growth, however, look fairly muted, unless Brent Crude can push itself back above $45 per barrel as the day continues.
As they have been since the start of the session the Eurozone indices continued to underperform their UK peer this Monday, the DAX and CAC slipping by 0.6% and 0.3% respectively. The former’s notably larger losses were undoubtedly inspired by the morning’s miss in the German Ifo business climate figure, which fell to a worse than expected 106.6.
Looking ahead to the US open and the afternoon looks set to be similarly bereft of inspiration, the Dow Jones likely to start the American session with a 25 point fall. Data-wise things look decidedly dull, the new home sales figure (expected at 521k against the 512k seen last month) the only number of note.
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