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Finance & Stock Market News
Glance-Britains FTSE flat awaiting Bernanke testimony
Tue, 17th Jul 2012 08:27
LONDON July 17 (Reuters) - Britain's top share index was
flat in early deals on Tuesday, mark
testimony from U.S. Federal Reserve Chairman Ben Bernanke which
could open the door to new monetary stimulus measures after more
weak U.S. economic data.
At 0709 GMT, the FTSE 100 index was down 0.72
points, or 0.01 percent at 5,671.61, having closed 0.1 percent
lower on Monday when concern about the outlook for corporate
earnings and weak U.S. retail sales data kept investors
cautious.
Fed chairman Bernanke will present his latest monetary
policy report to Congress on Tuesday and Wednesday against a
background of lacklustre growth at home and a festering
sovereign debt crisis in Europe that is increasingly
preoccupying U.S. policymakers.
Gains in energy stocks and banks
provided the underlying support for the blue chips on hopes for
fresh stimulus measures, with Libor rate-scandal hit Barclays the top performer, rallying 1.8 percent.
Plumbing supplies group Wolseley was the biggest
individual faller, shedding 3.9 percent as it said it has
decided to explore strategic options for the future of its
businesses in France, with difficult market conditions in
continental Europe continuing.
(Reporting by Jon Hopkins)
Keywords: MARKETS BRITAIN STOCKS/OPEN
(jon.hopkins@thomsonreuters.com)(02075428954)(Reuters Messaging: jon.hopkins.thomsonreuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
flat in early deals on Tuesday, mark
ing time ahead of a key
testimony from U.S. Federal Reserve Chairman Ben Bernanke which
could open the door to new monetary stimulus measures after more
weak U.S. economic data.
At 0709 GMT, the FTSE 100 index was down 0.72
points, or 0.01 percent at 5,671.61, having closed 0.1 percent
lower on Monday when concern about the outlook for corporate
earnings and weak U.S. retail sales data kept investors
cautious.
Fed chairman Bernanke will present his latest monetary
policy report to Congress on Tuesday and Wednesday against a
background of lacklustre growth at home and a festering
sovereign debt crisis in Europe that is increasingly
preoccupying U.S. policymakers.
Gains in energy stocks and banks
provided the underlying support for the blue chips on hopes for
fresh stimulus measures, with Libor rate-scandal hit Barclays the top performer, rallying 1.8 percent.
Plumbing supplies group Wolseley was the biggest
individual faller, shedding 3.9 percent as it said it has
decided to explore strategic options for the future of its
businesses in France, with difficult market conditions in
continental Europe continuing.
(Reporting by Jon Hopkins)
Keywords: MARKETS BRITAIN STOCKS/OPEN
(jon.hopkins@thomsonreuters.com)(02075428954)(Reuters Messaging: jon.hopkins.thomsonreuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
