Spreadex Market Update
European equities continue to hold onto gains
European equities continue to hold onto gains heading into the afternoon with the FTSE 100 index reaching an eleven-week high after the World Bank increased its global-growth forecast. Burberry led the gainers after the country’s biggest luxury-goods maker jumped the most in six months after reporting better than expected quarterly results.
US futures are indicating a higher open, helped by Bank of America’s results which showed profit quadrupled. Shares in Bank of America were up nearly 2.7 percent in pre-market trading following their announcement with the bank reporting an eight-fold jump in fourth-quarter profit.
Brent fell to its lowest intraday level in two months following the first increase since March in oil supply from Libya, with the modest recovery in Libya helping supplies.
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