Spreadex Market Update
Euro stocks open higher
After comments from Barack Obama last night, he demonstrated his hardened stance in his first postelection confrontation with Republicans, demonstrating he will make no deal on the country’s fiscal future unless congress leaders first accepts tax rate increases on top earners.
UK investors will focus on the Autumn Forecast Statement presented by George Osborne at 12:30 today, providing an updated economic outlook and previews the government’s budget for the coming year.
Meanwhile, Tesco chief executive issued a trading statement this morning showing the supermarket giant has delivered sales growth ahead of Sainsbury’s, ASDA and Morrison’s for the first time since Philip Clarke took the helm. Although like-for-like sales were down, Mr Clarke blamed a sluggish performance hit by a squeeze on household budgets.
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