12 Mar 2012: Chinese growth low; India unpicks cotton ban

  • Stocks weighed down by Chinese figures concerns, Commodities down too: China’s disappointing export growth causing concerns in the market. I expect a recovery late in the day. S&P 500 will probably open higher.
  • Stocks: FTSE All World is down by 0.1%, but FTSE Eurofirst is up 0.1%; S&P 500 expected to open higher; FTSE 100 is down 1.04%, and is at 5813
  • Currencies: Euro almost flat at $1.312
  • Commodities: Brent Crude is at $124.28/barrel; Copper loses 0.4% to sit at $3.84/pound; Gold also is down 0.1% $1707/ounce
  • Other news, briefly
  • India undoes Cotton export ban: India, the second largest Cotton producer in the world has undone the cotton export ban that it had imposed only days ago. Criticism from China, and pleas from farmers have led to this. However, its been also stated that India will issue no new export licenses for cotton, and only existing license holders will be able to export
  • Airlines call for delay of EU carbon treaty: Leading aviation companies warn EU that they are risking 2000 jobs as well as billions of dollars worth of business from China.

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