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Mercredi 9 Mai 2012

European equity markets - May 09, 2012

After yesterday’s steep losses European equity markets are trading moderately higher this morning supported by good corporate data, the notion that yesterday’s sell off was somewhat overdone and US markets rallying into the close late yesterday evening regaining much of the ground lost in early trading.

European equity markets - May 09, 2012
Even if markets across Europe are managing to stabilise, they are expected to remain vulnerable in the near term and any comments out of Greece related to not adhering to agreed austerity measures and a possible default could easily rattle markets and send them lower once again. Much will depend on how coalition talks will progress in the next few days, some temporary calm could re-enter markets if a date for a new elections would be set.

While the economic data calendar today remains fairly light, of some interest however will be the German 5 Billion 5 year auction. With yields having hit several new lows recently, demand will be a good measure of just how risk averse investors have become over the past few weeks.

Markus Huber - Head of German HNW Trading - ETX Capital

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