Antofagasta Slips Following Citigroup Downgrade

The Dow finished up 55 points yesterday but it was a weak trading session and the FTSE is currently down 17 points at 6540-41.

The Nikkei closed down 39 points at 14760 after the national core CPI came in better than expected at 0.8% but the Tokyo core CPI came in under expectations at 0.2%.

The UK HPI month-on-month figure came out better than expected, 0.9% versus 0.5%. On the back of this Travis Perkins’ shares went up 1.45% in early trading at 1674p.

The biggest faller on the FTSE 100 is Antofagasta, (ANTO), down 2.58% after CitiGroup gave the stock a sell rating with a price target of 790p. It is currently trading at 831p.

The main events of the day are ECB President Draghi speaking at 10am but this will be followed at 10.45am (UK time) by FOMC member Charles Evans speaking from Oslo at 10.45am (UK time). His speech will be important as he stated in a previous discussion that the Fed could start tapering later this year.

Other figures include personal spending from the US at 1.30pm (UK time) and the consumer sentiment figure at 2.55pm (UK time).

Disclosure: FX Solutions assumes no responsibility for errors, inaccuracies or omissions in these materials. FX Solutions does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FX Solutions shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials.

The products offered by FX Solutions are leveraged products which carry a high level of risk to your capital with the possibility of losing more than your initial investment and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.