Given recent reliance on Fed commentary and a void of Economic numbers today, bulls seem have decided to sit on the fence ahead of Wednesday’s FOMC minutes release, as European equities posted small losses amid light volumes. Again a strong session in China and Hong Kong has failed to filter through to the European open. With details of Chinese reforms released on Friday pushing the Hang Seng up over 2%, but falling short of drawing Europe into the party. Petrofac stock nosedived on the open today, following an interim statement that all but extinguished strong 2014 growth targets, with the deferral of a major project pointing towards a flat year or modest growth forecast at best. The stock has already endured a poor run back in May, when it reported a similar growth downgrade for 2013. Aberdeen Asset Management have sent a statement of intent to the investment world after beating competition to acquire Lloyds banks’ fund management division Scottish Widows for £660m, a transaction that will make it the biggest listed fund manager in Europe with £340bln under management. The news was well received from both sets of shareholders, with Lloyds posting green numbers and Aberdeen Asset Management surging over 10%. Yesterday’s Dubai air show was certainly worth the appearance for Rolls-Royce, who penned a $5 billion agreement with Airbus and Etihad to supply its Trent XWB engines for 50 new Airbus A350 aircraft for the Etihad fleet. Also in the UK, a statement from UK property comparison site Rightmove has claimed that fears over a housing bubble are being “overplayed”. News that the governments Help to Buy scheme has seen a 30% increase in visitors to the site would certainly point towards a surge in demand as mortgages become accessible to wider audience, but Director Miles Shipside claimed that measures from the FCA and lenders are ensuring that all candidates are “squeaky clean” and can comfortably afford payments. The statement may well help to ease some concerns, but sceptics will point to how quickly affordability can change with more pressure on interest hikes as early as 2014. CMC Markets is an execution only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.