Greek pro-bailout win outweighed by Spanish borrowing costs spike

<p>US markets closed on a mixed note yesterday with the FTSE 100 gaining 0.2 % and wall street erasing 0.2%. A win of pro-bailout parties […]</p>

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

  • US markets closed on a mixed note yesterday with the FTSE 100 gaining 0.2 % and wall street erasing 0.2%.
  • A win of pro-bailout parties in Greece was outweighed by a spike in the Spanish borrowing costs which hit a euro-era record high.
  • Uncertainty has continued into this morning session as world leaders who meet in Mexico for a G20 summit urge Europe to take all necessary measures to overcome the eurozone debt crisis.
  • UK Consumer Price Inflation has come in less than forecast in May at 2.8% vs expectations of 3%. This has fuelled speculation of further stimulus from the bank of England and pushed the FTSE 100 up 50 Points to around 5535.
  • Figures show this morning that German Investor confidence has declined the most since October 2008. However The Dax is currently showing gains of +22 at 6270 and the French CAC is flat at around 3070.
  • A busy morning so far however we are not expecting any further economic data but will be monitoring reports from the G20 and developments in Greece.
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.