Soft US markets saw the FTSE's pre-market call at -20 points, but this was quickly wiped out and the FTSE seems to be more pre-occupied with tackling the 5900 level than retracing previous gains. Even this morning’s soft UK construction figures were shrugged off. It is difficult to target what was responsible for this turnaround but the oft quoted "Santa rally" is taking a fair amount of credit.
Another of the brewers has been benefiting from sorrows being drowned with Greene King improving their UK market share and driving profit up 7%, enabling them to raise their dividend by 6.7%. After very poor figures last year, TUI have had a turnaround in fortunes after the wet summer prompted Europeans to scramble for package holidays to sunnier climes. With Iberia needing to cut costs dramatically, it is their partner British Airways that have taken action first with this morning’s news that they will reduce cabin crew by 400 staff.
Looking ahead to the US open, Dow futures have been fluctuating all morning but at 10.30am (London time) it's being called to open flat at 12,965.
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US Markets Saw FTSE's Pre-Market Call At -20 Points
Published 12/04/2012, 11:49 PM
Updated 01/01/2017, 02:20 AM
US Markets Saw FTSE's Pre-Market Call At -20 Points
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