Spreadex Market Update
Euro markets open cautiously
Oil and gas giant Tullow Oil reported their 2012 results today. The company reported a growth in sales revenue by 2% and averaged a $108 per barrel price tag in 2012 despite the volatile economic climate. The results are particularly important as they demonstrate that UK companies can perform well despite the fact that the UK reported a contraction in GDP during the last quarter of 2012.
There is also a wealth of economic data due today. This includes industrial production figures from the Eurozone as well as key speeches from US policy officials. Thus, such data could test whether investors are taking a breath from the markets or we really are in a period of consolidation.
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