Thursday, 10 March 2011

Early morning update

FTSE 100 @ 5895.37, - 41.93 (-0.71%), as at 9:43.
FTSE 100 down this morning, much like many of the mornings and closes over the last couple of weeks mainly due to oil prices and the unrest in the Middle East. 
Further negative surprises have come in the form of China's trade deficit as reported on Sharecast this morning:
"China posted a trade deficit of $7.3bn in February compared with the usual surplus, due mainly to the shutdown of factories during the Chinese New Year holiday, and higher commodity prices. "
Then there will be more nerves ahead of the monthly MPC meeting and its announcement at 12:00.
- Morrisons released full year results beating analysts expectations 
- Rolls-Royce (yesterday), confirmed that it is looking to build a 50/50 joint venture with Daimler to acquire German engine manufacturer Tognum (MTU).
At times like these it can seem very much like being in the eye of a storm and any good news is being outweighed by the uncertainty and fear of events in the short term. Nothing much one can do but batten down the hatches and wait for the tide to turn.

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