Nov 28, 2016
Footsie off lows as miners rally but weak oil prices weigh; banks cautious ahead of stress tests
Around mid morning, the FTSE 100 index was down 10.0 points at 6,830.7,
just below the session peak of 6,840.96, having recovered from an early
low of 6,769.77.
The Footsie
remained lower as the morning session progressed but recouped a big
chunk of its early losses as miners rallied on higher metal prices,
although weaker oil prices and falls by banks ahead of stress test
results weighed overall.
Around
mid morning, the FTSE 100 index was down 10.0 points, or 0.2 per cent
at 6,830.7, just below the session peak of 6,840.96, having recovered
from an early low of 6,769.77, after closing 11.55 points higher on
Friday.
European markets were much worse off, with France's CAC 40 index and Germany's Dax 30 index both losing around 0.5 per cent.
Meanwhile
Italy's MIB dropped 1.1 per cent reflecting concerns ahead of next
weekend's Italian referendum vote, where there is a good chance that PM
Matteo Renzi could well lose precipitating further political turmoil in
the country.
By This Is Money Market Reporters
