Continuing attractiveness of eurozone exported goods through the weakness in the Euro aside, it is becoming increasingly difficult for ECB President Mario Draghi to convince everyone the eurozone is still on the road to recovery. European traders will be in for a tough day following the soft start to equity markets this morning, and very few will be expecting a boost from the ECB’s monthly bulletin or the latest inflation and GDP figures.
Carillion looks unwilling to take 'no' for an answer and has gone public with its thoughts on cost-cutting and dividend payments. Considering how underwhelmed investors in Balfour Beatty must be after the last set of figures, the board should be anticipating pressure coming from both sides as they try to force through this merger. Could this finally be the light at the end of the tunnel that Marks & Spencer’s shareholders have spent the last three years waiting for? Executive director of food Steve Row has confirmed that both the food and general merchandising arms are almost firing on all cylinders and this should be reflected in the companies next Christmas sales.
Last Friday’s lows in the Dow look to be a thing of the past as US traders have spent the week firmly believing the latest correction is over, and a 'buy the dip' and 'risk on' mindset is the way forward. Shielded by both distance and a lack of direct exposure to Russia the jitters that traders in Europe have, surrounding the Russian aid convoy and Ukraine, has failed to filter through to US traders.
Ahead of the open we expect the Dow Jones to start seven points lower at 16,644.
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