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Europe closes at session lows, giving up gains late amidst continued ugly U.S. intraday action....

Europe closes at session lows, giving up gains late amidst continued ugly U.S. intraday action. Stoxx 50 -0.3%, led by Italy -1.2%. The euro -0.2% to $1.2951. The FTSE 100 manages a flat close, and sterling puts in a big rally as U.K. Q3 GDP rises 1% vs. an expected 0.6%. FXB +0.5%.
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Comments (1)
  • Tack
    , contributor
    Comments (14044) | Send Message
     
    U.S. market action driven almost entirely by "wall of worry" election nervousness. Expect more of the same until November 6th.

     

    Agaisnt this, we see China's PMI improving, as well as their exports. The UK reports above-expectation GDP. And, all of Europe's large multinational firms have reported stronger-than-expected exports, both to the U.S. and China. None of this positive news is making an impact, in deference to fear of the unknown.
    25 Oct 2012, 11:57 AM Reply Like
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