The major indices all closed up yesterday following the release of positive US data

<p>The major indices all closed up yesterday following the release of positive US data. The FTSE was up 1.4%, the DAX and DOW both up […]</p>

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  • The major indices all closed up yesterday following the release of positive US data. The FTSE was up 1.4%, the DAX and DOW both up 92 pts and the Nasdaq up 21 points.
  • By 9am this morning, the FTSE was at 5484, the DAX at 6160 and the Dow at 12567.
  • The building materials sector was the strongest performer within the FTSE yesterday, whilst Lloyds and Amec were also up 3%.
  • Barclays have been fined £290 million following allegations that the bank has been involved in the manipulation of LIBOR, resulting in borrowers paying incorrect interest rates on debts. Deutchebank, Citigroup, and UBS have also been linked to this incident.
  • Today we have the Italian 10-year Bond Auction, at 9.30am the Current Account figures for the UK, and the US Unemployment Claims at 1.30pm.
  • Finally, the EU Summit begins today, amid growing concerns over the Eurozone Crisis. It is not expected to provide much of a resolution to the unhealthy financial situation of Greece, Spain and Italy, however, it will certainly be something to keep an eye on for the rest of the week.
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