WORLD FINANCIAL NEWS

Shares fall as Libya crisis intensifies Market Movers techMARK 1,929.76 -1.11% FTSE 100 6,014.80 -1.12% FTSE 250 11,727.66 -0.85% The top share index was nursing big losses at trading’s close as worries over the turmoil in Libya sent the oil price soaring and continued high usage of the European Central Bank’s marginal lending facility stoked nervousness over banks. Banks are granted the right to seek overnight loans from the European Central Bank, albeit at punitive rates, in the event of an urgent need for liquidity, and on Wednesday last week demand spiked to its highest level in more than 19 months, and went higher still on Thursday. Usage dipped on Friday to €14.2bn, down from €16bn on Thursday, but that figure is considerably higher than the normal level,...

Read more »

Posted in: world financial news

WEEKLY MARKET REVIEW

IN THIS ISSUE: 1. Weekly market review from Forex-Metal. 2. Weekly technical analysis. 3. Representatives Wanted! Previous trading week started with a US dollar competitors’ weakness. On Monday euro demonstrated sharp decrease against the competitors during the European trading sessions. Concerns over the Euro-zone budget crises reinforced. The 2-day meeting of the EC Ministers of Finance, which started on that day, might not result in a mutual agreement regarding target levels of reducing the country’s debt loads. In addition, according to the released information, chances of restructuring of the German state bank West LB AG were reducing, which rendered pressure on the euro as well. The Euro-zone Industrial production, published on Monday, turned out to be negative at the level of -0.1%,...

Read more »

Posted in: Weekly market review,Weekly technical analysis

EVENING EURO MARKETS

London Market Reports Footsie falls back on mixed day for miners Market Movers techMARK 1,951.40 +0.17% FTSE 100 6,082.99 -0.07% FTSE 250 11,828.29 0.00% Miners were in focus heading into the weekend, with precious metals groups going well, but the rest of the sector hurt by further attempts by the Chinese authorities to cool down the Chinese economy. The FTSE 100 was slightly lower at the close. China has raised bank reserve requirements by half a percentage point, to a record level of 19.50%. It’s the fifth hike in the requirement since October and is designed to stop the banks having too much cash sloshing around to lend to customers. Gold miner African Barrick defies the trend, as it features on Citigroup’s list of likely takeover candidates, but sector peers...

Read more »

Posted in: Evening Euro Markets