Before the open – 27/08
Markets are expected lower on Syrian turmoil and poor US data yesterday. US Secretary of State John Kerry described events in Syria as "a moral obscenity" and said that "by any standard, it is inexcusable and — despite the excuses and equivocations that some have manufactured — it is undeniable."
The US saw durable goods orders fall 7.3 per cent in July from 3.9 per cent (revised down from 4.2). Analysts had been expecting a decline of just 3.0 per cent.
#FTSE called around 25 points lower. #JPY rallies while #AUD lower as fears of increased international involvement in #Syria grows.
— David Morrison (@jmoz62) August 27, 2013
ETX Capital #morningcall: FTSE100 down 27 points, the DAX lower by 38 points and the CAC40 off by 25 points
— ETX Capital (@ETXCapital) August 27, 2013
Key events today:
- German August IFO current assessment at 09.00. Expected to rise from 110.1 to 111.0.
- German August IFO business climate at 09.00. Expected ro rise from 106.2 to 107.0.
- German August IFO expectations at 09.00. Expected to rise from 102.4 to 103.0.
- US June S&P/Case-Shiller home prices at 14.00. Growth to expected to fall from 12.2 per cent to 12.0 per cent year to date.
- US August consumer confidence at 15.00. Expected to stay flat at 80.3.