Spreadex Market Update

Euro stocks edge higher



European stocks edge higher into the afternoon with the Dow set to open above the key 14,000 level. At current levels, the Dow Jones trades about 1 percent away from an all-time intraday high which was achieved in October 2007. Core US retail sales came in slightly above expectations at 0.2% vs 0.1%.

Comments from Bank of England Governor Mervyn King this morning said Britain faces a further spell of inflation and a slow economic recovery. He also signalled that they would look through the volatility in prices to keep nurturing growth where they can. The initial reaction caused Stirling to depreciate against the Euro and US dollar.

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