A cautious start to trading on Monday left the FTSE 100 flat at midday, the index was a nominal 2 po...
A cautious start to trading on Monday left the FTSE 100 flat at midday, the index was a nominal 2 points lower at 5284.
There was very little share price movement with around a third of those listed failing to move 1% or higher either way. Gains were capped at 3% by Granada, whose stock rose to 136p.
Heading southwards were a handful of technology stocks, with profit taking the likely reason. Sage led the FTSE 100 losers with a moderate fall of 4% to 216p.
Last Friday, Markets improved over on Wall Street although stronger gains were lost as a result of profit taking. US investors were boosted by a string of encouraging economic data released during the week and optimistic comments from chairman of the Federal Reserve, Alan Greenspan. The latest encouraging figures showed US unemployment fell to 5.5%, which surprised most onlookers.
On Friday the Dow Jones improved 47 points to 10,572 but it had enjoyed a level of 10,664 before the profit takers swooped in. Meanwhile the Nasdaq surged 3% to 1,930 – technology bellwether Sun Microsystems boosted confidence after saying it expected to meet forecasts.
The advance made by the Nasdaq on Friday inspired Tokyo's Nikkei 225 to hit a seven month high on Monday. The index crept forward 33.51 to 11,919.30.
Looking at the week ahead in the US, there is further important economic data scheduled for release. Wednesday and Thursday will see retail sales for February, business inventories and jobless claims all disclosed.
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