FTSE 100 Faces 10 Year Low
The FTSE 100 has released news that over the past three days share trading has been at a ten year low (excluding holidays’). Heavily hit has been the blue chip index in the London Stock Exchange.
Reports show that one year ago trading was at 2bn, whereas this past Friday was at only 547m. Volumes are averaging 411m. This is noted as the smallest movements during this century.
Experts are blaming this all time low on the Eurozone crisis, however added that the closing of the Olympics has also played its part in the downfall.
London Stock Exchange was not alone in this poor volume; The New York Stock Exchange also was plagued with volumes being at a 10 year low. Traders whom are apt to short their exposure have been holding back, as they are not sure what those in office will do, and when they will act on the various financial crisis.
Trading is typically lower this time of year; however, these lows appear s to be short sellers are closing their positions.