Join Sophia Ziaee on Monday 31st October 2011 as she brings you all the latest news from the trading floor of City Index (http://www.cityindex.co.uk/):
- It has been a ghoulish start for the markets this morning as the initial euphoria over last week's euro bailout deal is starting to slide.
- Overnight it was a weak day's trading in Asia, where Japan's Nikkei index closed 0.7% lower. The FTSE 100 has already shed 51 points, this morning trading around 5650.
- Mining stocks, the perennial measure of economic optimism, are leading the fallers. Kazakhmys, Vedanta, BHP Billiton and Xstrata are all down 3% or more.
- For some currency traders, there is also upsetting news this morning as The Japanese central bank waded into the currency markets selling yen and buying US dollars.
- This intervention - the third this year - was provoked by the yen hitting all-time highs against the dollar.
- It was good news for Barclays this morning as they announced third-quarter profit increased by 5 percent, beating estimates, even as the sovereign debt crisis hurt investment banking revenue.
- It seems the overstated market reaction to last week's European bailout package will be tested this week with scepticism already rising about the durability of the measures announced.
Find out more at http://www.cityindex.co.uk/
Spread betting and CFD trading are leveraged products which can result in losses greater than your initial deposit. Ensure you fully understand the risks.