General Markets Review

Published / Last Updated on 02/02/2002

UK markets saw a three day losing streak for the FTSE TechMARK and a two day one for the FTSE 100.  Again, telecommunications, banking, media, oil and drug stocks dominated the markets, deciding the daily fate of the UK markets.  By the end of the trading week the FTSE 100 was unchanged and the FTSE TechMARK was some 3% lower.

European markets had a week of trading shadowed by news from the US which, throughout the week, helped European markets to lose and gain.  Despite the rises and falls of the week, most European markets ended on a flat note.  

The week in the US was a mixed one.  Interest rates were left alone and not cut for a twelfth time and fears of an economic fallback were wiped out when news came that the economy had actually grown by 0.2%.  Analysts general opinions were that earnings news over the next three to four months would really show if the economy was back on track.  A very mixed week for Far Eastern markets.

On one hand, positive earnings news in Japan and signs of economic recovery in the US boosted markets.  On the other hand poor unemployment figures, political unrest and falls in the banking and technology sectors helped markets to fall back.

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