Markets on Hold for Eurozone Signals

Markets were once again dominated by the machinations of policymakers in the Eurozone.

Morningstar.co.uk Editors 28 September, 2011 | 5:33PM
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The failure of the Eurozone to reach agreement on another bailout held back sentiment. On the other hand, the news that there would further meetings in Athens later this week suggested a deal may yet be forged and equity markets reflected the push and pull of competing views.

The FTSE 100 vacillated for much of the day, moving briefly ahead at one point only to close 1.44% lower at 5,218. European markets were stronger, but the CAC 40 and Dax both gave up some of yesterday's strong gains. Asian markets were weak with the Hang Seng down 0.66% at 18,011. Only the US markets were up on the day.

Smith’s Group was one of the day’s big winners as it announced a rise in sales of 3% for the full year. Headline operating profits were up 5% after the group’s restructuring programme produced savings of around £15m during the 12 months.

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