Arab Today, arab today ftse falls as china demand fears hit miners
Last Updated : GMT 22:28:13
Arab Today, arab today
Arab Today, arab today

FTSE falls as China demand fears hit miners

Arab Today, arab today

Arab Today, arab today FTSE falls as China demand fears hit miners

London - Arabstoday

Top share index was lower on Tuesday morning, weighed down by mining stocks which fell in response to signs of a demand slowdown in China, the world\'s largest consumer of metals. Miners fell 2.1 percent after BHP Billiton (BLT.L), the world\'s biggest miner, said it was seeing evidence of \"flattening\" iron ore demand from China, which cut its economic growth goal for this year earlier this month.Shares in BHP and rival Rio Tinto (RIO.L) were down 2 percent and 2.7 percent, respectively, having traded 20.4 percent and 30.6 percent of their volume average. \"JPMorgan is not looking for a hard landing in China, but economic activity will remain mixed and will continue softening in the near term,\" said Emmanuel Cau, JPMorgan European equity strategist said. \"If you look at housing activity in particular, or steel and cement production, they are quite weak at present and we think this is advocating a more cautious view on the mining sector.\" Cau, however, was still optimistic on the broader market\'s long-term prospects, expecting growth in the United States to offset weakness in China and an improvement in company earnings to drive European shares higher. \"Given the macro pick-up we have seen, there is room for earnings upgrades and that\'s what going to drive the next leg of the rally,\" he said. Of the 73 British blue chips that had reported full-year results to date, 64 percent had beaten or met consensus estimates, Thomson Reuters Starmine data showed. The FTSE 100 .FTSE fell 33.83 points, or 0.6 percent, to 5,927.18 by 09:22 a.m., retreating further from an eight-month closing high of 5,965.58 on Friday. The index still enjoyed strong technical support and was seen as merely experiencing a temporary pullback before heading towards last year\'s highs in the 6,100 region, according Cheuvreux. \"We do not exclude (an) addition(al) congestion phase before renewing strength towards the prior swing tops within the 6,050-6,100 target window,\" the broker said in a note. \"The rising 50-day moving average would act as a strong support, currently at the 5,835 level.\" Chip designer ARM Holdings (ARM.L) was among the top FTSE risers adding 1.2 percent. The company\'s recent share price weakness despite its strong competitive position prompted upgrades by Barclays Capital and Investec Securities. \"ARM shares performed weakly over the past year as the market digested its prospects in the PC market and earnings momentum slowed,\" BarCap said in a note, raising its rating on the stock to \"overweight\" from \"equal-weight\". \"With continued upside being seen in the smartphone and tablet segments, and ARM retaining its strong position in both despite threats from Intel, we see (circa) 10 percent upside to consensus estimates for 2012/13,\" it added. Glencore (GLEN.L), down 1.3 percent, was at the centre of traders\' interest, having already traded 37 percent of its volume average after a source said a consortium including the commodities giant was close to a deal to buy Viterra Inc (VT.TO), Canada\'s biggest grain handler.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ftse falls as china demand fears hit miners Arab Today, arab today ftse falls as china demand fears hit miners

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ftse falls as china demand fears hit miners Arab Today, arab today ftse falls as china demand fears hit miners

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Syrian children die of hunger

GMT 19:25 2017 Sunday ,22 October

Syrian children die of hunger
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday