Spreadex Market Update
FTSE stable
The index had been down over 40 points earlier on in the day, however a slight revival in banking and mining shares and a marginally more positive start to US trading with the index down only 6 points has led to a stabilization at this moment in time.
Utilities have taken a hit after Bank of America/Merril Lynch cut their recommendation on National Grid from buy to neutral in a downbeat note on European Utilities. At the moment of writing National Grid is down 1.63%, Severn Trent -1.6% and United Utilities -0.9%.
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