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Fiona Cincotta
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51 followers
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A distinct weakness in the markets has been evident this morning as investors take a back seat, with more US earning figures due this afternoon and concerns over the eurozone still lingering, risk off is the approach being adopted. Miners particularly dragged on the FTSE, tracing metal prices lower with Rio Tinto and Anglo American both shedding over 2.4%.

Worries over Spain still continue to plague investors as the positive results in the regional elections on Sunday may mean that Rajoy feels less pressure to request a bailout. However Moody’s has decided to downgrade five Spanish regions to ‘junk’ due to the deterioration in their liquidity and minimal cash reserves. Although the impact of these downgrades have been fairly limited, eyes will certainly been focused on the Spanish government benchmark 10-year bond yield, with any upward spikes likely to affect the equity markets. Continue reading >

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- The #FTSE is trading up 0.2% at 5904
- The #EU earning season gathering momentum this week – but expectations are low
- BP in advanced talks regarding sale of 50% stake TNK-BP – looking to end toxic relationship, trading down 1%
- Other oil firms lower and oil futures are hovering at 90$ a barrel

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Europe sinks lower on #Greek fears despite Asian rebound

European markets sold off sharply again today, on public holiday Ascension Day for mainland Europe, as concerns over #Greece continue to weigh on sentiment on trading, whilst speculation that Moody's were set to cut a range of #Spanish bank ratings also escalated losses into the close.

http://www.cityindex.co.uk/market-analysis/europe-sinks-lower-on-greek-fears-despite-asian-rebound.aspx

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City Index Morning market update 2nd May with Fiona Cincotta

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City Index Morning Market Update 19th April 2012 with Fiona Cincotta

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