Spreadex Market Update
Asian markets make gains
Despite a positive session in Asian, European stocks are seen edging lower, continuing yesterday losses and shifting investors to the side-lines. With little economic data scheduled, volumes are likely to remain thin. However, ECB president Mario Draghi is due to speak at the Spanish Parliament at 13:30 which could help shed some light on developments in Europe.
Investors may remain cautious after a report showed North Korea conducted its third-ever nuclear test on Tuesday. The test is likely to anger its main ally China and increase international tension against its new leader.
Barclays reported a pre-tax profit of £246m, with the stock raised to Neutral from Underweight by JPMorgan. They also reported that they would be looking to reduce headcount by at least 3700 in a view to reduce total costs significantly across the group by operating more efficiently.
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