21st December 2011
The FTSE 100 dipped slightly in early trading this morning (December 20th) despite improving optimism regarding the state of the German economy and its ability to absorb many of the issues facing the eurozone.
Other positive data failed to improve the outlook for the UK's blue chip index, as it fell to 5,346 (down 0.35 per cent or 28 points) at the start of the afternoon.
This was despite a successful Spanish bill auction, which helped bring down the country's borrowing rates further than expected.
Chief market strategist at City Index Joshua Raymond told Proactive Investors: "Trading is choppy once again, a likely common theme this week, with the majority of traders sitting on the sidelines now for the holiday period."
The euro responded more positively than the UK index this morning to the Spanish news, gaining 0.6 per cent against the greenback to stand at $1.3075 and move away from an 11-month low.
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