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C Citigroup Inc

61.55
0.01 (0.02%)
04 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Citigroup Inc NYSE:C NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.01 0.02% 61.55 62.15 61.41 61.53 11,048,880 01:00:00

Sterling Steady as Scottish 'No' Camp Regains Lead--Update

12/09/2014 6:05pm

Dow Jones News


Citigroup (NYSE:C)
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By Tommy Stubbington 

Sterling held on to the gains it made late Thursday after a poll showed a renewed lead for opponents of Scottish independence in the run-up to next week's referendum.

The same pollster sent the pound into a tailspin earlier this week when it showed pro-separatists in the lead for the first time.

The pound was steady against the dollar at $1.6252 Friday.

"The panic is over for now and the market looks comfortable to buy the pound on dips," said currency strategists at Citigroup.

More broadly, European stocks gave up small early gains to trade little-changed midmorning on Friday, following a five-session losing streak. The Stoxx Europe 600 index was less than 0.1% higher. Markets fell slightly on Thursday, weighed by some weak U.S. economic data and the introduction of a fresh round of European Union sanctions against Russia.

The measures, initially approved on Monday, will take effect Friday, reinforcing steps taken in July restricting trade, commerce and financial links with Russia.

The U.K.'s FTSE 100 was 0.1% higher Friday. Germany's DAX and France's CAC 40 fell 0.3%.

The tentative trading comes at the end of a week in which the prospect that the U.S. Federal Reserve may soon signal a rise in interest rates has weighed on global stocks.

"Equity indexes continue to struggle across all the major markets, and there may not be much relief in sight until next week's [Fed] announcement hopefully adds some clarity to the U.S. monetary policy outlook," said Ian Williams, economist and strategist at brokerage Peel Hunt.

In the U.S., futures pointed to a 0.1% opening loss for the S&P 500. Changes in futures aren't necessarily reflected in market moves after the opening bell.

Elsewhere in currency markets, the Russian ruble fell 0.5% to a fresh all-time low of 37.727 following the new EU sanctions and held close to that level after the bank of Russia left its main interest rates on hold. A minority of analysts had expected a rate hike.

Russian stocks climbed, with the Micex index 0.5% higher, as investors concluded that the market had previously overreacted to the prospect of new sanctions.

In commodities markets, gold fell 0.2% at $1,236.60 an ounce, while Brent crude oil rose 0.2% to $99.08 a barrel.

Write to Tommy Stubbington at tommy.stubbington@wsj.com

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