Europe remained in the red this Friday morning, continuing a less intense version of yesterday afternoon’s drop. It seems that investors, in general, have begun to question the market’s recent all-time highs, dragging the indices away from their peaks in a fit of doubt.
The FTSE’s had a right rotten week – it has shed more than 100 points since Tuesday’s 7600-tickling highs, and now sits at its worst price in around 2 weeks. This despite a sluggish showing from sterling, and a solid set of figures from the UK; manufacturing and industrial production both surged a far better than forecast 0.7% in September, while the goods trade deficit shrank to £11.3 billion in the same month.
The Eurozone indices showed no signs of recovering yesterday’s sharp losses. The DAX slipped another 0.1%, leaving the German bourse at a fortnightly nadir, while the CAC was at a similar low after falling a further 0.4%.
It’ll likely be a quiet Veteran’s Day afternoon in the US, even if the markets are open. The Dow Jones is set to drop by 50 points when the bell rings on Wall Street, meaning it is in danger of falling below 23400 (it actually plunged towards 23300 at one point on Thursday). In terms of data, the preliminary UoM consumer sentiment reading is expected to creep higher, from 100.8 to 100.8 month-on-month.
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