Spreadex Market Update
23.07.12 Monday Afternoon
On the back of this news the FTSE is currently trading at levels not seen since late June.
Unsurprisingly the dollar is finding strength with the US dollar index up 0.5 on the day as money flows in to the safe-haven currency.
Basic materials are also taking a hit on the back of the greenback’s strength coupled with fears about the global economic outlook with some mining companies in the FTSE 100 finding themselves down as much as 5%.
Unsurprisingly we are also seeing financial stocks take a big hit over their potential exposure to fixed income with Aviva’s exposure to government debt causing the company to fall over 7%.
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