A drop in the UK domestic jobless rate to a 9-year low

<p>A drop in the UK domestic jobless rate to a 9-year low, signs of a recovery in the US housing market and strong corporate earnings […]</p>

The video cannot be shown at the moment. Please try again later.

  • A drop in the UK domestic jobless rate to a 9-year low, signs of a recovery in the US housing market and strong corporate earnings boosted markets yesterday.
  • Traders also responded well to Bernanke’s second testament as he confirmed the fed is prepared to provide further assistance if necessary.
  • Risk appetite continued overnight in Asia with the Hang Seng and Nikkei showing modest gains.
  • The LIBOR scandle continues and regulators will be investigating HSBC, Deutsche Bank, Soc Gen and Credit agricole.
  • Today the mood is slightly positive with the FTSE UP 10 at 5693, DAX UP 20 at 6705 and CAC UP 5 at 3250.
  • Lloyds Banking Group fell 0.5% after it confirmed the long-awaited sale of 632 branches to the Co-operative Group.
  • GOOGLE, MICROSOFT and Morgan Stanley are among the heavy weights releasing their latest results this afternoon.
  • Quiet on data front today – however keep an eye on the US weekly jobless figures @ 1.30pm and more US housing numbers at 2pm
See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.