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>

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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
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.

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