After a slow start the European markets became a bit more mixed on Thursday, with differences emerging between the UK and Eurozone indices ahead of the afternoon’s central bank triple-whammy.
The FTSE tumbled back under 7300 as the day went on, the index slipping 0.3% as the DAX shot up by 0.4%. There doesn’t appear to be one concrete reason for the decline, but a combination of losses from constituents like BP (LON:BP) and Shell (LON:RDSa), who both gave back some of Wednesday’s hurricane-led growth, and Morrisons (LON:MRW), the supermarket falling despite a better than forecast, World Cup-lifted 9% surge in interim pre-tax profit.
As for the pound, it was uninterested in any significant pre-Bank of England/ECB/Central Bank of Turkey action. Instead sterling sat flat at $1.305 against the dollar – an improvement on the mild losses seen just after the bell – and up 0.1% against the euro, where it’s trading above €1.123.
Turning to the afternoon and the Dow Jones currently isn’t looking like it is going to add much to the conversation. The futures have the index up 30 points, an increase that would take the Dow above the 26000 level it struggled to hold above on Wednesday.
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