Barclays said they are cutting 3600 jobs and aim to save £1.7 billion in costs by 2015

<p>- European markets opened mostly lower this morning FTSE was down at 6265 – Investors remain cautious ahead of inflation figures and from a dreary […]</p>

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- European markets opened mostly lower this morning FTSE was down at 6265

- Investors remain cautious ahead of inflation figures and from a dreary performance in new York overnight, however, inflation figures came out at 9.30am this morning

- The banking sector will defiantly be in the spotlight today as it is now pushing the market higher with shares rising, Barclays shares have moved into the lead, up 0.75%, after the UK bank said it was cutting 3600 jobs and have aimed to save £1.7bn in costs by 2015, underlying profits at the bank came in at just over £7bn which was in line with expectations. Lloyds also creeping up behind improving 0.37p.

- For the broader European stock markets, Mario Draghi meets Spains Prime Minister Rajoy today at 3.30pm and European finance ministers meet in Brussels, finance ministers will be looking to meet some sort of agreement ahead of the G20 meeting on Friday, but the main focus will surely be following the banks, currently pushing the markets up into positive territory.


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