Spreadex Market Update
Eurozone fab five target Greek breakthrough after Monday night meeting
However, at present, signs of any kind breakthrough remain elusive, despite the fab five urging Greece to show more ‘intensity’ in its pursuit of a deal. Reports are suggesting that Monday night’s meeting should yield a fresh set of proposals at some point this week, presumably before Friday, with the aim of breaking the months-long deadlock.
Greece, for its part, doesn’t seem to be playing ball, with both its labour minister and its parliamentary spokesman respectively stating that there is no more room for compromise and that Greece won’t be forced into an unsatisfactory ultimatum. The resumption of mixed messages from the Eurozone, oddly this time with the bearish claims on the side of the previously optimistic Greece, has left the indices in the red this Tuesday morning ahead of some potentially positive inflation data later today.
Continuing the form it found at the end last month the FTSE slipped to more losses last night, a trend that currently is showing no signs of changing. Things could be different, however, after this morning’s construction PMI; since the robust figures posted in March the UK’s construction data has begun to slide, so the index could be buoyed if the forecasts of a slight increase prove to be accurate.
Synergy Health continues to have a tough time of it, even if it posted mild gains after the bell. After a nightmarish end of May that saw the stock fall to a 7 month low following the news that the FTSE intends to block its takeover by Steris Corporation, Synergy posted full year results this morning that showed symptoms of sickliness. Whilst none of its figures were disastrous, its slowdown in pre-tax profit was incredibly steep, from 13% last year to a mere 1.6% for the year ending March 2015. Not the kind of ground-gaining results Synergy needed with the Steris deal long-stop date looming in July.
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