To Sonki and All;
Found this article on the morning wires and wanted to post it here:
Tuesday April 28, 5:18 am Eastern Time
FTSE 100 opens firm as caution on U.S. rates eases
LONDON, April 28 (Reuters) - The UK's FTSE 100 index opened firmer on Monday after report in the Washington Post newspaper calmed fears of a possible near-term hike in U.S. interest rates.
By 0809 GMT, the blue chip index had gained 45.6 points to 5,768.
''We could have a bit of a bounce today after the Washington Post report,'' said a sales trader.
LONDON, April 28 (Reuters) - The UK's FTSE 100 index opened firmer on Tuesday after a report in the Washington Post newspaper calmed fears of a possible near-term hike in U.S. interest rates.
By 0809 GMT, the blue chip index had gained 45.6 points to 5,768.
''We could have a bit of a bounce today after the Washington Post report,'' said a sales trader.
The Washington Post, quoting unidentified Federal Reserve sources, said new data may have eased the concerns that promoted policymakers to drop their neutral stance on U.S. interest rates last month.
The bank's decision at its March 31 meeting to ''lean'' toward higher short-term rates did not
necessarily mean that higher rates were on the way soon, the newspaper said.
Dealers expected shares to be supported by institutional investors which were believed to be on the look out for cheap lines of stock.
''There was not a great deal of institutional selling yesterday,'' the sales trader explained.
''Funds are still cash-rich. If they were putting cash in the market at the 5,900 level, it would be
logical for them to be buyers now.''
Have a good Tuesday
Frank |
