Continued Signs of Instability in the Eurozone

<p>UK & US equities closed lower yesterday with continued signs of instability in the eurozone as the yield on Spanish 10-year bonds rose to 7%. […]</p>

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

  • UK & US equities closed lower yesterday with continued signs of instability in the eurozone as the yield on Spanish 10-year bonds rose to 7%. Negativity continued into Asia as weaker than expected Chinese imports figures signalled slowing demand in the world’s second largest economy.
  • London shares are slightly up this morning after UK manufacturing figures have come in better than expected. EUROPEAN shares are also showing gains after the first 30bn EURO bailout for Spanish banks has been agreed by the ECB.
  • FTSE UP 40 points at 5666, DAX UP 55 points at 6442 and the CAC is UP 30 points at 3190.
  • Marks and Spencer announced that its like for like UK sales for the first half of 2012 have fallen by 2.8% and the company expects the short term trading outlook to continue to be challenging. However the share price is up 1% after investors as optimistic following a reshuffle in management.
  • BAE Systems is the top Gainer in London up 3.4% after UBS reiterates its BUY Ratings on the defence and security business.
  • Economic data is pretty thin today, however we do have unofficial UK GDP estimates at 3pm this afternoon.
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.

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (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.