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The FED released a slightly more dovish minutes for the April meeting

Article By: ,  Financial Analyst
May 17, 2012 11:14 AM

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  • As expected, the FED released a slightly more dovish minutes for the April meeting, indicating that further easing can’t be ruled out. Coupled with the Greek situation worsening, the market sentiment remains weak this morning.
  • FTSE is currently lower 30 points at 5370, lowest levels since late December, the DAX lower 33 points at 6350 and the CAC lower 20 points at 3030.
  • The decline in the main UK Index is led by banking, as it appears investors are still reacting to the eurozone problems. Lloyds the worst performers in the banking sector this morning, down 2% at 28.1p.
  • Miners are also mainly in the red with Vedanta Resources the biggest faller in the FTSE this morning, after reporting their earnings were impacted by lower attributable profit from subsidiaries. They’re down 3.5% at 989.35p.
  • ICAP are the biggest risers, up 3.2% at 347.30p after receiving a UBS upgrade from sell to neutral.
  • In commodites and currencies, gold is slightly higher by 0.3% at 1547.53, so showing a bit of a bounce after being in freefall since last week. US Crude Oil is up 0.5% 9338.
  • The dollar index is also strengthening slightly against major currencies, with EUR/USD at 1.2716 down 0.1% and the cable at 1.5896 down 0.2%.
  • Main economic data to watch out for would be the weekly jobless figures from the US, later this afternoon.

 

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