Thursday, 2 August 2012

Today's stock market score card for Draghi


EUROPEAN INDICES

Data as of 2 Aug 2012. All quotes delayed at least 15 minutes.

Symb
Index
Mkt Report
Time
Last
Chg
Chg %
Thomson Reuters Equity UK Index
2:00pm EDT
105.71
-0.98
-0.92%
Thomson Reuters Equity Germany Index
2:00pm EDT
114.03
-2.39
-2.05%
Thomson Reuters Equity France Index
2:00pm EDT
101.97
-2.42
-2.32%
FTSE 100 Index
11:35am EDT
5,662.30
-50.52
-0.88%
FTSE 250 Index
11:35am EDT
11,076.61
-109.58
-0.98%
FTSE techMARK 100 Index
11:35am EDT
2,309.29
-22.39
-0.96%
DAX Index
11:45am EDT
6,606.09
-148.37
-2.20%
CAC 40 Index
12:05pm EDT
3,232.46
-89.10
-2.68%
SMI Index
11:30am EDT
6,407.30
+8.03
+0.13%
Madrid General Index
11:39am EDT
644.82
-34.56
-5.09%
OMX Stockholm All Share Index
11:30am EDT
325.98
-2.28
-0.69%
OMX Helsinki All Share Index
11:30am EDT
5,109.62
-105.18
-2.02%
OMX Copenhagen 20 Index
11:00am EDT
479.38
-2.22
-0.46%
Oslo Exchange All-share Index
12:15pm EDT
468.03
-4.96
-1.05%
ISEQ Overall Index
12:00pm EDT
3,147.65
+4.17
+0.13%
Bell 20 Index
12:05pm EDT
2,241.60
-47.66
-2.08%
AEX Amsterdam Index
12:05pm EDT
322.16
-5.55
-1.69%
Source: reuters.com

And this despite Draghi today stating the ECB may "undertake outright open market operations of a size adequate to reach its objective". Yes, it was less than the market expected, but at least it was something. The markets are clearly expecting too much and today's dose was clearly deemed too small. Imagine the markets' reply when it becomes apparent, in due course, that Draghi is unable to do anything at all.


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