Some poor figures reflected in Aprils PMI for the eurozone area

<p>Yesterday, we saw some poor figures reflected in Aprils PMI for the eurozone area, nearing a 3-year low of 46, with Spain and Italy recording […]</p>

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  • Yesterday, we saw some poor figures reflected in Aprils PMI for the eurozone area, nearing a 3-year low of 46, with Spain and Italy recording 41.2 and 43.5 respectively.
  • There was further pain in Spain as an emergency meeting of G7 leaders yesterday warned of Spain nearing a bailout as yields on 10-year bonds approach 7%, levels which previously triggered bailouts for Ireland and Greece. Whilst no firm decisions were laid out, they ended the conference with a promise that eurozone Leaders would respond “speedily” to further developments in the crisis.
  • We saw some welcome relief with better than expected figures out in the US for Non-Manufacturing PMI coming in at 53.7, which saw the Dow Jones index RISE by 26 points to close the day at 12128.
  • We have seen a positive start to the FTSE 100 today, UP 55 points to 5315.
  • RBS are leading the way after a 10 for 1 consolidation, with a 5% GAIN in respect of the new price level at 208.7 pence.
  • Barclays are UP 5% to 182 pence, with Lloyds UP 4.5% to 26.87.
  • Vodafone have gone Ex-dividend today for 6.47 pence per share, with Vodafone being broadly flat today after accounting for this dividend.
  • The CAC is UP 30 points to 3015, with the DAX UP 65 points at 6035.
  • Figures out today are UK’s construction PMI at 9.30am, and eyes are focused on the ECB this afternoon with interest rate decision, anticipated to be unchanged at 1%, followed by a press conference commencing 1.30pm.

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