Equity markets are rallying strongly this morning as the market reacts to better than expected Industrial Production numbers out of Beijing and reduced tensions around Syria. It seems global leaders are unanimous on the need to follow UN protocol and direct their efforts to intervene in the crisis down the correct channels, which makes a refreshing change to the ‘bomb first, argue later’ approach that markets had feared. Amongst the early gainers are Glencore Xstrata, who raised the cost saving estimate on synergies found in their merger to $2bn. Those who were doubtful of the true value of the tie up may now be forced to reconsider, and the stock has reacted sharply to the upside this morning. At the other end of the index hotel and restaurant group Whitbread are down as much as 3% despite announcing a 2.1% jump in sales year on year and reiterating their full year outlook. Concerns over pressure on consumers outside of London are weighing on the stock this morning as traders price in a potential demand shortfall in their other geographies later in the year. In the midcap space emerging market fund manager Ashmore Group are soaring 6% after full year earnings beat estimates, facilitating a rise in the annual dividend that was greeted warmly by investors. A relatively quiet afternoon macro calendar presents its own challenges, as bulls see their resolve to support markets at these levels tested without any fresh impetus. Fed tapering and Syria continue to represent very real downside risks on the short term horizon…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.