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Hurricane Sandy Forces US Exchanges To Close

The NYSE and Nasdaq trading will be halted for trading today, for the first time in 27 years due to Hurricane Sandy. Evacuation orders have been put in place in low lying coastal areas on the North East of the United States due to the risk of flooding. The NYSE has revised its initial release that it was to close physical floor trading, to cease all trading on Monday and possibly Tuesday.

Headlines

Bank of England’s Spencer Dale has warned that Britain is heading into a sharp slowdown in growth as the bounce from the Olympics disappears - The Times

Lloyds Banking Group has launched a scheme that scraps all incentives linked to product sales - Financial Times

A report out today states that liquidity in AIM has held steady during financial crisis, better than the main markets – CityAM

UBS prepares to axe 10,000 jobs and refocus its operations 

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