Spreadex Market Update
FTSE starts the day fairly flat ahead of manufacturing and industrial production data
The FTSE quickly lost its early growth this Wednesday, losses for BP and Shell outweighing the mild gains made by the mining sector. The UK index finds itself in the spotlight this Wednesday, after ceding ground to the Eurozone at the start of the week, with the release of the latest manufacturing and industrial production figures. Following the woeful PMI data last week there will likely be extra attention on this morning’s numbers. Luckily analysts are expecting both metrics to bounce out of negative territory, something that may help ease the market fears about the current state of the UK economy.
The Eurozone has had a pretty fantastic start to the week, the DAX crossing 10000 as investors displayed their relief at the signs of progress in regards to the Greek debt debate. Yet the region’s indices have begun to tick back this Wednesday, the DAX and CAC slipping 0.4% and 0.6% respectively. With little on the agenda until Friday’s GDP data dump, and the post-Eurogroup enthusiasm unable to sustain itself for a third day in a row, the Eurozone indices may struggle to build on their early in the week growth spurt as the day continues.
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