News article

FTSEurofirst 300 drops by 0.4%

FTSEurofirst 300 drops by 0.4%
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The FTSEurofirst 300 has decreased by 0.4 per cent today at 1,081.26 points (October 18th).

According to Reuters, the move on the European stock exchange came after there were lower figures for miners following weaker metal prices.

But the foreign index loss occurred following its increase by 1.4 per cent over last week and the benchmark is up more than 67 per cent compared to its lifetime low in March 2009.

What's more, the news provider pointed out that the US Federal Reserve is expected to implement further monetary easing.

Justin Urquhart Stewart, director at Seven Investment Management, said there is an increasing inkling that profits need to be taken.

He added: "You've had gilts, gold and equities rising all at the same time and that's not sustainable. One of them has to give."

On Friday, the FTSEurofirst 300 experienced a gain of 0.2 per cent around mid-afternoon at 1,087.04 points.

Posted by Greg Secker ADNFCR-1681-ID-800121764-ADNFCR