Tuesday, July 6, 2010

Euro shares rise in early trading


Forex Special Rebounding from yesterday’s sluggish beginning to the week, European equities are edging higher within the first hour of trading supported by strong advances in the commodities sector. So far all leading indices are broadly up with the DAX, FTSE 100 and CAC 40 each up around 70 points or 1.28%, 1.44% and 1.96% respectively.

The mining sector is doing particular well this morning, while oil producers and exploration firms also experience a climb in stock prices. Particularly Xstrata and Vedanta Resources are among the best performers, both up nearly 5% in early trading. Moreover, BP is gaining in the London market as bargain hunters drive the stock price nearly 4% higher at time of writing. With little economic information to go on today, traders will have a keen eye out for US ISM non-manufacturing data in order to gain hints of market direction.

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