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Markets slowly come to life

A bit of life has come back into the markets as the US re-opens after Thanksgiving. Heading into the close the FTSE 100 is up 15 points, and we are set to finish the week around the 6670 level.

Boom over for homebuilders

Its déjà vu all over again for UK homebuilders, as Mark Carney's comments about re-focusing the Funding for Lending scheme on businesses resonate with traders. The booms days for the sector are coming to an end. 

Rio Tinto announced the closure of its alumina operation at Gove as a continuation of its cost-cutting programme.  

The eurozone is beginning to see light at the end of the tunnel after S&P raised its economic outlook for Spain. Ireland is due to exit the bailout scheme next month which could make the Greeks green with envy.

Stock markets awake

The US stock market is gradually waking up from its slumber; a far cry from the frantic scenes witnessed in shopping malls today where bargain hunters have been out to take advantage of Black Friday. Retail stocks are outperforming the index as consumers snap up discounted items on the biggest shopping day of the year. 

The focus for December will be on the Federal Reserve meeting on the 18th; the fear of tapering might curtail the Santa rally. 

Gold catches Black Friday buzz

The Black Friday bargain hunting frenzy has crept into the gold market, as some traders feel the metal is oversold.

FX market directionless

The US is meandering between positive and negative territory against most major currencies, as most dealers are taking a long weekend.

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