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Market Pulse: Banks beaten, DAX retreatin'

Friday, November 16, 2012 - 03:56

Nov. 16 - Euro zone financials the biggest loser in equities today, while Germany's DAX slips below 7,000 for the first time in over 2 months. And on this day in history, a Nasdaq meltdown...

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7000. Has been a key support level for the German ducks a two and a half months but that gave way Elliott today. Rising consent over Japanese economy could see that got -- 5% in the last couple of weeks. About break all of the 7000 little out of state. I'm Jamie -- and this is today's market postal here to discuss European equities and joined by Blix whose chief stock market correspondent forget. Simon -- Simon let's start with the banks and financials on the eurozone banks I -- done what about the sense that they underperforming. Was -- not. Well yes it is -- is the was performing site today. Giving it back a little bit more and it's a strong summer rally. Nothing fresh as prime by the -- issues just -- -- on the -- ears in debt crisis -- going -- that we can people concerned about huntress is gonna. I'll fix its funding and Sicily into a bit of a risk of states thing. Of course go you know different Tuesday with hopefully we'll get some answers them. On not one but in particular offense buying coming -- I think today -- leading the way French bank Natixis second rifles opposed to missiles yesterday. And to some sent him then it's -- -- 4% to -- today. -- Fueled it and the middle -- morning by a breach of the twenty day moving average which is just a treatment of stroke still looks as and it's. Those him heading -- It's. The big picture for banks to the extent by camp as the league particularly bright I go to the fantastic piece on Reuters. To day that shows at least a 160000. By because a lot of jobs in the last couple years. And there's more to come. That doesn't think it's none is not a great time to be a bank the restructurings Vilma has been going off a couple of years this light continued -- regulate your machine is changing. Risk is coming in my irons in a market once -- went on -- to be lies bush in equities. So all of us. And it's -- to job losses and friends. One of the -- so let's finish up out on the basic results these European basic resources -- that sets up. They're having a particularly -- because Valentine and 5% the -- -- in six months. Yes there are a number of sex is though obviously get hit more when growth is a rise of reminders of the chief among them rarely end on this week as you know we've had some fresh but they turned out of Europe. Griffith is looking -- going out. And of course I yes I say this beat the eurozone officially back in the -- yet and to. OK Simon thank you very much. Well on senate foreign exchange and the yen as -- as was -- against the dollar since February. The big buck up over 2% against the Japanese currency this week and the talk -- to fine them dollar gains ahead. Caught -- by analysts say that technicals and fundamentals both points effects yen down site among the negatives. Is among likely to be Japan's next prime minister of opposition leader of -- -- -- a high and inflation target the Bank of Japan as part of an even more expansionary monetary policy. Comment by not a target take 1817 to eight ahead of that. Well the good old days remember them remember when bill on the -- for stocks was up. On this day in 1999. The volume of trades going through that does that -- the market trading system to not done. Meaning that -- no electronic quotes ought trade reports for seventeen minutes but afternoon. Volume was on the way to a record one and a half billion shares. I guess the giggled gates. -- perhaps not just four months late of the bubble bust and the mouse that went on to lose 18% of its value. Even today it's still around 50% done and not peak. -- so Hamas a motive but join us every day at this trying to take the pulse of the market I'm Jamie gave up. -- -- --

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Market Pulse: Banks beaten, DAX retreatin'

Friday, November 16, 2012 - 03:56

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