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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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FTSE higher despite indecision in Greece

Article By: ,  Financial Analyst
November 2, 2011 10:35 AM

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  • European bourses tumbled amid confusion and indecision in Greece.
  • The proposed referendum and threat of a snap election to dispose incumbent Prime Minister George Papandreou lead the FTSE to close down 2.2% yesterday.
  • The DAX closed down 5%, while in the US the DJIA closed down 2.5%.
  • Despite heavy hitters like BP, Shell and GSK, amongst others, going ex-dividend and taking 12.8 points off the FTSE, we see it in positive territory this morning.
  • The FTSE Index is currently up 15 points at 5436. With a recovery in copper prices and a bounce back from yesterday’s sell off, miners are leading the FTSE leaderboard, with Kazakhmys up 2% on the day.
  • The biggest gainer however is Next, up 5%, after the retailer raised its first year profit target and sales to 4%.
  • The biggest fallers unsurprisingly are GSK, down 1.55% and Shell, with both A and B shares down about 1%. Lloyds is trading down 3.5% today.
  • Standard Chartered is also down 2.25% after results failed to impress, with fears that the bank’s Indian business will struggle.
  • With the US FOMC meeting announcement scheduled for 5.30pm (UK time) and non-farm payrolls due on Friday, we expect to see some more fireworks later in the week.

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