Join Sophia Ziaee on Wednesday 26th October as she brings you all the latest news from the trading floor of City Index (http://www.cityindex.co.uk/)
- It's D-Day for the eurozone debt crisis. Investors are very nervous as Europe's leaders meet for a crucial summit this evening and Italy's government teeters on the brink.
- The markets are trading fairly sideways ahead of the EU Summit, with the FTSE opening up nearly four points. France's CAC has also edged four points higher, and the Dax over one point.
- It looks like trading will be quite volatile until we know more about the outcome of the summit.
- Today's agenda for news is the CBI Industrial Trends Survey for the UK at 11am, US Durable Goods Orders at 1.30pm and US New home sales at 3pm (UK time). The European Summit begins in Brussels 4.15pm, with a working dinner at 6.15pm followed by the eagerly anticipated press conference.
- Overnight on Wall Street, the Dow closed down 205 points to 11708 yesterday.
- Amazon slumped 15% in after-hours trading after reporting worse-than-expected third quarter results.
- Gold hit $1,700 yesterday, with investors flocking to safe havens on confusion that the Summit had been cancelled when actually the meeting between finance ministers yesterday was scrapped.
- With regards to companies reporting today, the major announcements come from Glaxosmithkline, BAA Airports, Boeing and Visa.
For more market news from City Index, visit http://www.cityindex.co.uk/market-analysis/market-commentary.aspx
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