Still no signal on the next move of aid for Greece

The video cannot be shown at the moment. Please try again later.

- The FTSE opened slightly lower this morning, down 10 to 11 points at 5737 with investors nervous towards the failure of agreement last night from the EU and IMF.

- After 12 hours of discussion there was still no signal on the next move of aid for Greece. Finance ministers could not come to a decision of how to get Greece’s debt down to a sustainable level and to finance a two year extension on Greece’s needs. Mixed signals to whether they are close to making an agreement or just not quite there yet lingers over the markets, investors will be keeping an eye on their next meet on the 26th of this month on Monday.

- On the home front metal prices eased on fears that there will be a further fall in japan exports, with Vedanta, Rio Tinto and Anglo American taking a hit.

- Johnson Matthey was the worst performer of the main index posting a 6% dip in its first half year profit.

- London copper slipped for a second run, as talks from the fed res chairman renewed fiscal cliff worries; traders will step back and wait ahead of global manufacturing figures later this week.

- This morning at 10.30 am focus will be on the Bank of England minutes being released.

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

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. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.