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Mid-Morning Trading On The FTSE Slips Lower

ByIG
Published 10/30/2012, 01:46 AM
Updated 01/01/2017, 02:20 AM

In mid-morning trading the FTSE has slipped lower, down around 30 points, as a result of economic worries and lacklustre corporate earnings.

Third-quarter earnings have not provided the real boost that some might have looked for, and markets have found it difficult to make real headway as a result. In some ways, the summer lull has never really gone away, with even the eurozone crisis failing to provide much in the way of excitement. At least there is some merger activity this morning, as publishers Pearson and Bertelsmann announce that they will combine their two publishing divisions, although sadly those hoping that the combined entity would be called "Random Penguin" have been disappointed. After starting higher this morning, Pearson shares have slipped lower, now down around 0.8%.

The impending arrival of Hurricane Sandy has meant that exchanges in New York will be closed today and possibly tomorrow as well. As a result, markets are much quieter as US traders stay away from their desks. There will be a degree of disruption to earnings season as well, as some firms, including pharmaceuticals giant Pfizer, delay their earnings until later in the week.

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