Sunday, January 8, 2012

FTSE 100 stock outlook jan 9 2012

FTSE 100 stock outlook jan 9 2012 : Better-than-expected unemployment data in the US failed to spark a significant rally in London today as the eurozone debt crisis continued to trouble investors. The FTSE 100 Index pulled back from earlier highs to close 25.4 points higher at 5649.7 despite the US unemployment rate falling to 8.5 per cent - its lowest level in nearly three years.

The markets had been expecting the positive numbers, which showed that employers added a net 200,000 jobs last month in December, capping six months of gains.

Meanwhile, the problems in the eurozone were never far from mind as Italy's borrowing costs rose further above the 7 per cent mark seen as unsustainable, while traders looked ahead to Monday's meeting between French and German leaders to discuss the crisis. FTSE 100 Technical analysis prediction 2012

The pound was down against the dollar at 1.54, as the greenback was strengthened by the positive jobs update, while sterling fell against a weakened euro to 1.21. Banking shares rebounded from recent losses seen after Italian bank UniCredit spooked the market by revealing it had to offer huge discounts on its stock to raise money. Lloyds rose 0.8p to 27.1p and Barclays was ahead 2.8p at 186.4p.
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