Bank of Japan Disappoints Pulling Markets Lower; SABMiller Reports in
Line With Expectations - City Index UK
LONDON -- (Marketwire) -- 01/22/13 -- City Index UK: The FTSE lost
ground in early trading on Tuesday as investors paused for breath
after hitting five-year highs in the previous session and markets
struggled for direction. Acting as a backdrop was news that the Bank
of Japan has raised its interest rate target to 2% and an
announcement that it will undertake a programme of open-ended asset
purchases starting in 2014. The policy announcement overall failed to
live up to expectations, putting a negative shadow over Asian and
Read Full Article at cityindex.co.uk: Bank of Japan disappoints
pulling markets lower; SABMiller reports in line with expectations
Investors also braced themselves as earning season gears up in the US
and several bellwethers are due to report later in the day, such as
IBM, Johnson & Johnson and Google, which should bring some volume
back to the markets following the US bank holiday yesterday.
Here in the UK SABMiller reported third quarter results in line with
expectations, with revenue growth accelerating from the first six
months of the year.
Reported revenues increased by 17% year on year in the three months
to December, ahead of the 11% rise reported in the first half.
Accelerated growth of organic lager volumes was seen in Latin
America; however, this was offset by a slowdown in Europe, Africa and
Asia Pacific. Read more
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