Traders tentative due to peso crisis

In mid-morning trading the FTSE 100 is up 20 points as markets rebound; the initial panic after Argentina imposed restrictions to put the breaks on the peso has evaporated, but traders are still on edge. 

The mood this morning isn’t one of relief but more a preparation for the next leg down, as political turbulence in Turkey and tapering from the Federal Reserve are looming. 

The banking sector, which was hit hardest yesterday, has pulled back most of its losses. Royal Bank of Scotland still hasn’t exorcised its demons, however; the bailed-out bank will set aside another £3.1 billion for fines and compensation. 

Carpetright are floored today as poor sales in Europe triggered another profit morning from the homes retailer. 

Mexican miner Fresnillo hit its silver production target but missed on the gold projection, as a ban on explosives impacted operations. 

In the US we are expecting the NASDAQ to open nine points lower as one bad Apple spoils the barrel. The iPhone manufacturer slumped in after-hours trading after the tech giant lowered its sales forecast for 2014. 

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