Stimulus for a struggling economy - 31st August, Market Update





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Published on Aug 31, 2011

Go to http://www.cityindex.co.uk/market-ana... for more trading insights from spread betting and CFD trading provider City Index. Here, Sophia Ziaee brings you the key activity shaping the markets on Wednesday 31 August. Headlines include:

- European shares rose early on Wednesday, tracking advances on Wall Street as hopes the U.S. Federal Reserve will act soon with stimulus measures to boost the struggling economy. The Dow Jones has risen 3.7% in the last three trading days.

- The FTSE 100 rises 0.3 PCT, the French CAC 40 is up 0.6 PCT and Germany's DAX rises 0.7 PCT

- Most Asian stock markets edged higher on Wednesday, although Japan's Nikkei was weaker on profit-taking after four straight sessions of gains, and after Japanese factory output rose less than forecast in July.

- Confidence among British consumers fell to its lowest level in four months in August, a survey showed on Wednesday, a sign they will keep a tight rein on spending, and hampering a fragile economic recovery. Eurozone data will also be of interest, with German, Italian and overall unemployment numbers all due for release.

- Finally it is bad news for BP as there last remaining hopes of resurrecting a joint venture with Rosneft been dashed after the Russian oil explorer signed a $3.2 billion (1.97 billion pounds) deal with U.S. major ExxonMobil.

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