Overview on shares and stocks
Markets are called partially lower this morning as investors reflect on the geopolitical crisis in Ukraine, Iraq and Gaza.
The FTSE is called flat at 6,633, the German Dax is seen down nine points at 9,172 and the French CAC is seen falling by seven points at 4,191.
Following a minor rebound yesterday, markets are set for a fairly quiet start to trading. Vladimir Putin announced yesterday that Russia was preparing to send humanitarian aid to Ukraine. However, tensions remain high with the Ukrainian claiming that 45,000 Russian troops have amassed on the country’s border.
The claim has been supported by the NATO secretary general Anders Rasmussen. Furthermore, Rasmussen believes there is a strong possibility of Russian action in Ukraine under the pretences of a humanitarian operation.
In Iraq, Shiite politician Haider al-Abadi has been asked to form a new government. However, the current prime minister Nouri al-Maliki argued that the appointment was illegal. President Obama said there had been success in repelling militant Islamists.
An Egypt-proposed ceasefire between Israel and Hamas, which was agreed on Sunday, appears to be holding.
In Germany, today’s ZEW economic sentiment survey for August is expected to show the lowest reading since December 2012. This caps a series of poor business surveys disappointing industrial production and factory orders.
Markets are awaiting the latest Q2 GDP numbers from the EU, Germany and France on Thursday, which are expected to bring further bad news.
Source: cityam
