Spreadex Market Update
FTSE opens flat
Another big factor in the fall is the increasing expectation that Ben Bernanke won’t announce another round of quantitative easing at his speech at Jackson Hole on Friday and we could possibly see things pull back further over day as optimism turns quickly to doubt as we have seen all too often since 2008.
G4S is 1.77% lower at the time of writing after its contract to provide security for the London 2012 Olympic Games has cost it £50m, after the company failed to provide enough trained staff for the event and as a result the army was called in to make up the shortfall.
The figure was at the higher end of estimates and was revealed at the same time as interim results, where it was released that half-year pre-tax profits fell from £151m to £61m. The miners are also having a tough time as worries over Chinese demand for metals has seen base and precious metals prices trace lower.
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