Member Article

Markets flat in important week for investors

European markets experienced a mixed close today, and US indices hovered around multi-year highs, following last week’s announcement by the ECB that they could provide unlimited buying of European sovereign debt, given certain conditions were met.

It came before an important week in many investors financial diaries, with a German ruling of the legality of Europe’s bailout fund (the ESM) and Dutch election due this week, as well as a decision form the US Federal Reserve from which investors are looking for more hints of monetary easing. It also came as the Greek Prime Minister Antonis Samaras admitted today that the country is struggling to persuade its “troika” of lenders to accept its new austerity package.

The FTSE 100 finished pretty much flat at 5793, with a mixed picture in terms of sector performance. Associated British Foods, the food manufacturer and owner of Primark, lost 2% by the close of trade following its trading update. Despite an acceleration of trading at Primark, news of a £100m impairment for plant and equipment in Australia overshadowed the results.

This was posted in Bdaily's Members' News section by James .