European Market Update

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Summary

European Market Update – Key movers overnight have been the sterling and Oil. The pound was negatively affected by a poll showing the Tory party to have lost some support versus recent polls, which follows the unexpected downward revision to GDP figures. Cable has remained heavy in the wake of yesterday’s disappointing growth data out of the UK. A hefty drop in oil prices occurred  after OPEC and allies delivered the well anticipated nine-month extension to the prevailing volume reduction in supply.