Spreadex Market Update
US stocks open lower after hitting four year highs
UK indices have experienced another day of low volumes and were pushed lower by losses in the mining sector after Chinese house prices were reported to have increased for a second consecutive month, raising expectations that the Chinese government may intervene by tightening monetary policy in order to curb inflation, thus pushing base metal prices including Copper lower as a result. Fears were also exacerbated by on-going problems in the eurozone. After positive comments from Angela Merkel on Friday, in which she supported the Mario Draghi’s stance on doing everything the ECB can to support the euro, it would appear that eurozone leaders have done little over the weekend to allay any fears traders may have had.
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