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London Stock Market Plunged 157.76 Points &Nbsp On 10 Day, Investor Confidence Was Defeated.

2011/8/11 11:05:00 53

London Stock Market Plunged 10 Days

100 kinds of financial times in London Stock Market

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The average price index fell sharply on the 10 day, closing at 5007.16 points, down 157.76 points from the previous trading day, or 3.05%.


On the same day, when the Federal Reserve decided to maintain low interest rates for two years to stimulate economic growth, the market went up sharply and was up about 1%.

But in the afternoon, because of the news of the market, France may be downgraded by the US, and investors' confidence has been slump.


although

France

The government denied that the sovereign debt rating of the country would be downgraded. The three rating agencies also denied it, but the market is still spreading panic.

Because many banks are more or less holding sovereign debt of European countries, investors are worried that banks will be involved and suffer heavy losses.


Banking sector led the entire market.

Barclays Bank fell 8.7%, Standard Chartered Bank fell 7.52%, Royal Bank of Scotland fell 7.33%, HSBC fell 5.28%.


The risk aversion of investors

gold

Prices rose to a record high of $1772 an ounce.

Rand gold resources rose 4.33%, ranking the top of the list.


The other two big European stock markets also suffered serious setbacks on that day.

The CAC40 index of the French stock market in Paris closed at 3002.99 points, down 173.2 points from the previous trading day, or 5.45%.

The DAX index of the German stock market in Frankfurt closed at 5613.42 points, down 303.66 points from the previous trading day, or 5.13%.


 
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