clawed back some ground overnight on speculation over a corporate tax cut
, and with the rest of Asia following suit the positivity has fed through into the European session.
CPI data out of the UK at 09:30 arrived broadly in line with market expectations
along with Eurozone Industrial Production numbers at 10.00
, though the headline ZEW measure beat forecasts to support equity markets close to their highs of the day.
On the earnings front Resolution Ltd
provided another big win for the insurance sector, making all-time highs as H1 earnings beat analyst expectations
driven by a surge in new business in the UK and demand for pension products.
In the midcap space recruitment consultants Michael Page International
are struggling to keep pace, down 4% after predicting a challenging quarter in Q3 despite a marked improvement since the start of the year.
Investors remain wary of the employment sector – which is obviously in the spotlight given Mr Carney’s forward guidance plans that he laid out to the market last week.
Retail Sales numbers from the states at 13:30
will provide the afternoon highlight in the macro calendar, with many CMC clients considering their next move after making significant gains in the mining space over the past trading week - Rio Tinto
, a stock we have mentioned on any number of occasions over the past month now trades almost 25% off its June lows…
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