The FTSE currently indicates a flat open, as traders await the release of
Purchasing Managers Index Service. Analysts are going to be looking at every
economic data number that is released ahead of the next Bank of England
meeting to try and predict how steep will the rate cut be. The opening level
of the FTSE will depends greatly on the result of the economic data.
Oil fell to the lowest levels in more then 3 years as concerns of a global
slowdown intensify. Adding to the selling pressure is the lack of action
from the OPEC group at last weekends meeting. Oil should settle around 45
dollars per barrel before figuring out its next course of action.
Predicted opens as of 06:00 GMT
FTSE: 4123.2 (+9.2)
CAC40 3138.20 (-12.30)
DAX30 4503.3 (-42.00)
DOW: 8365 (-65)
SP500 842.48 (-6.00)
Gold: 777.70 (-1.50)
Oil: 47.81 (-0.79)
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