A drop in the UK domestic jobless rate to a 9-year low
City Index July 19, 2012 9:57 PM
<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>
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- 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
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