The FTSE has gone into the close flirting with the 6300 level and has been hovering around this level for the last couple of hours. The day started off on a slightly more optimistic note, following the overnight news that Australia had kept their interest rate on hold. This gave a number of mining stocks a boost; however those gains have slowly been eroded over the day. The banking sector has also ended badly in the red with the Royal Bank of Scotland leading the charge down, and is now off almost 3% on the day.
Vodafone has been rumored to be looking at another acquisition, of Italian company Fastweb, with the aim of improving their cable coverage across Europe. The communications company are also already in the process of coming to an agreement to take over the German company Deutsche Kabel.
It is likely that this week’s equity volumes will be lower than the average has been over the last couple of weeks, as traders will be conscious that the US are on holiday on Thursday 4th July for Independence Day. This will then be followed by Friday’s non-farm employment figures.