FTSE100 modestly higher in early deals with miners rallying

Shares, dollar steady after sharp selloff

LONDON | Fri Jun 14, 2013 8:47am BST
(Reuters) - Shares partly recouped recent losses on Friday and the dollar steadied, but both headed towards a fourth consecutive week of declines driven by uncertainty over central bank stimulus programmes.

Talk that the U.S. Federal Reserve, which holds its monthly meeting next week, could scale back its bond buying later in the year has led to a sharp selloff in global markets this week.

Was it true at some point yesterday?

Shares have been strong since

http://www.leadingtrader.com/06/mcclellan-oscillators-oversold-signal-stock-market-bottom-for-stocks/

EUR CPI y/y 1.4% 1.4% 1.4%

EUR Core CPI y/y 1.2% 1.2% 1.0%

EUR Employment Change q/q -0.5% -0.2% -0.3%

GBP CB Leading Index m/m 0.2% 0.4%

Annual decline in UK construction output slows sharply in April

(Reuters) - British construction output posted the smallest annual fall in almost a year and a half in April, non-seasonally adjusted data showed on Friday, raising hopes that construction might contribute to economic growth in the second quarter.

Output dropped 1.1 percent compared with April a year ago - the slowest fall since November 2011, the Office for National Statistics said.

On the month, output fell 6.5 percent - the first decrease since January. However, new work in private housing rose.

Spending Review: Home Office agrees cuts with Osborne

The Home Office and five other departments are the latest to reach a deal with George Osborne over spending cuts, the government has confirmed.

The chancellor has already agreed cuts of up to 10% with seven government departments for 2015-6 ahead of his spending review on 26 June.

But defence has yet to settle amid concerns about military job cuts.

FTSE 100 modestly lower at midday as an early rally stalls

CAD Manufacturing Sales m/m -2.4% 0.3% -0.3%

USD PPI m/m 0.5% 0.1% -0.7%

USD Core PPI m/m 0.1% 0.1% 0.1%

USD Current Account -106B -110B -110B

FTSE100 little changed as weak banks offset strong miners

Hope you all have a great weekend!

G.