Eurozone worries still pressure stocks
Markets are having difficulty establishing a bullish platform as continuing worries over the eurozone counteract news of more monetary easing in China.
(FINANCIAL TIMES) LONDON - The FTSE All-World equity index is down 0.4 per cent as the FTSE Eurofirst opens with a loss of 0.8 per cent and Asia is off 0.4 per cent.
S&P 500 futures point to Wall Street falling 0.4 per cent later in the day, on course to close at its lowest mark in nine weeks. Gold is down 0.1 per cent to $1,577 a troy ounce, close to its cheapest this year.
Overall, the mood is once again risk-averse, as can be gauged by the performance of traditional barometers. The dollar index, which tends to be inversely correlated to trader optimism, is up 0.2 per cent, while money is moving into highly rated fixed income, with yields on US 10-year bonds down 2 basis points to 1.82 per cent.