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Spreadex Market Update

Tuesday, August 06, 2013 - Afternoon Market Update
Lee Mumford
Lee _Mumford _100x 100

Euro stocks continued their sideways trend

European stocks continued their sideways trend as investors seek further catalysts to spur more gains. US futures are testing record levels again in light volume with yesterday being the lightest full-day action this year. This shows investors are now turning away from the markets at these historic levels and waiting for more clarity from central banks.

German factory orders and UK manufacturing production data showed better than expected results, adding to evidence Europe is recovering. German orders increased 3.8 percent from a month earlier with orders increasing by the most in eight months driven by contracts for bulk items. Manufacturing Production in the UK rose significantly in June, fuelled by optimism over the country’s improving outlook which came in at 1.9 percent in June, beating the 0.9 percent increase.

Both Credit Agricole SA and Standard Chartered reported this morning with Credit Agricole posting better-than-expected earnings. Meanwhile Standard Chartered posted a 24 percent drop in first-half profit after writing down the value of its Korean business by $1 billion. However, shares in Standard Chartered were up nearly 5 percent by midday as investors took kindly to their results.

The Trading Day and Week Ahead

For further information on the trading day ahead, take a look at our Financial Diary, which previews all the Economic Data due out to today and projected or previous figures.

Our Financial Diary is updated in real time as the figures are released throughout the day.

If you are unsure what different Economic Figures mean take a look at our Economic Indicators Explained guide.

For a look at the trading week ahead our Financial Diary also lists all the companies due to submit trading updates this week. Each Friday, our diary will preview the forthcoming week's economic indicators and company reports schedule.

For market trends and analysis, don't forget our charts have automatically generated support and resistance trend lines helping aid your financial spread betting with technical analysis. For more help on using our charts, view our Guide to Trading with Charts?


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