Tuesday, June 11, 2013

Reuters: Hot Stocks: Britain's FTSE falls after Japan holds stimulus plan

Reuters: Hot Stocks
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Britain's FTSE falls after Japan holds stimulus plan
Jun 11th 2013, 07:11

LONDON, June 11 | Tue Jun 11, 2013 3:11am EDT

LONDON, June 11 (Reuters) - Britain's shares fell on Tuesday, as renewed concerns about global central bank stimulus helped to pin the leading index below a key technical level.

The Bank of Japan kept monetary policy steady on Tuesday, holding off on taking fresh steps to calm bond market volatility, and hurting the performance of Japanese blue-chip stocks on the Nikkei.

"What's weighing on it mainly... is this Japan weakness," David Jones, market analyst at IG Index, said.

"We'll be watching central banks to see if there's any more hints of stimulus, as worry over this clearly been the main concern in recent weeks."

Britain's FTSE was down 40.04 points, or 0.6 percent, at 6,360.41 at 0709 GMT, with financials taking over 11 points off the index.

The FTSE 100 remained pinned for the third session in a row below the 100 day moving average, which is now at 6,415. (Reporting by Alistair Smout)

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