Spreadex Market Update
Tuesday, August 28, 2012 - Morning Market Update
FTSE opens flat
The FTSE opened relatively flat this morning, but is slowly creeping south following falls in Asia overnight after the Japanese government downgraded its assessment of the economy for the first time in 10 months as analysts forecast a fall in the world’s third biggest economy’s GDP after slowing growth in China and recession in Europe hurts demand.
Another big factor in the fall is the increasing expectation that Ben Bernanke won’t announce another round of quantitative easing at his speech at Jackson Hole on Friday and we could possibly see things pull back further over day as optimism turns quickly to doubt as we have seen all too often since 2008.
G4S is 1.77% lower at the time of writing after its contract to provide security for the London 2012 Olympic Games has cost it £50m, after the company failed to provide enough trained staff for the event and as a result the army was called in to make up the shortfall.
The figure was at the higher end of estimates and was revealed at the same time as interim results, where it was released that half-year pre-tax profits fell from £151m to £61m. The miners are also having a tough time as worries over Chinese demand for metals has seen base and precious metals prices trace lower.
For further information on the trading day ahead, take a look at our Financial Diary
, which previews all the Economic Data due out to today and projected or previous figures.
Our Financial Diary is updated in real time as the figures are released throughout the day.
If you are unsure what different Economic Figures mean take a look at our Economic Indicators Explained guide
For a look at the trading week ahead our Financial Diary also lists all the companies due to submit trading updates this week. Each Friday, our diary will preview the forthcoming week's economic indicators and company reports schedule.
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