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Today's Markets - May 21, 2012

European equities are trading little changed this morning as the G8 meeting over the weekend didn’t yield many new developments.

Today's Markets - May 21, 2012
On one hand there is a broad agreement between individual countries of the G8 that Greece should stay in the Euro on the other hand sharp divisions are remaining over how best to boost growth in Europe.

While Greece and a possible Euro exit continue to hang over the market, some moderate relief might arise from a couple of Greek opinion polls over the weekend with anti bailout party Syriza only leading in two out of four polls not quite confirming an unassailable lead some had feared they might have.

Economic data schedule is fairly light today, with all eyes are already on Wednesday’s special EU summit, where not only Greece but also economic growth is taking centre stage.

Overall market sentiment remains negative, while not necessarily yielding into huge losses similar to the ones seen last week as much of the bad news has already been discounted by the market, at least for now, but it will certainly make it very difficult for any rallies to the upside to be maintained make the market prone to profit taking. Investors continue to be very much risk averse, with very few convinced that stock markets have seen their lows already.

Markus Huber - Head of German HNW Trading - ETX Capital

Lundi 21 Mai 2012

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