Spreadex Market Update
European equity index futures have been led higher
European equity index futures have been led higher this morning in sympathy of positive sentiment from Asia. Baskets of Asian equities have been gained recent support from investors, as an apparent floor appears under Chinese manufacturing. The extent to which the economic region has become relatively unloved by the equity market is starting to draw in those looking for value, as other regions’ valuations worsen. But the good economic signals will likely have to continue and gain momentum to support prices further.
Meanwhile, looking to London’s main market, Reckitt Benckiser reporting Q2 like-for-like revenue growth of 3 percent has impressed at this early stage, sending shares 2.5 percent higher. Lonmin and Pace also move higher, up 2.3 and 2.1 percent respectively. Today’s biggest large-cap loser is Aberdeen Asset Management, down 2.8 percent on near-term guidance; its management remain cautious on market sentiment and report small decline in AUM.
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