Spreadex Market Update
U.S futures remain relatively flat
The FTSE 100 has pushed on again during today’s session to a fresh 5 and a half year high, helped by encouraging corporate earnings from Aviva in particular, after the insurer reported on strong business growth. Additionally, good data released by Easyjet and Tui Travel on Wednesday has been rewarded with rating upgrades.
Euro zone consumer inflation has fallen to a 3 year low after prices fell further in Germany and France. Annual consumer inflation has fallen to 1.2 percent, highlighting the risk of deflation in the euro zone. This comes after the region slipped into its longest ever recession at the start of the year, forcing the ECB to cut interest rates to a record 0.5 percent low this month.
Royal Bank of Scotland have announced today that, in conjunction of the restructuring of its retail head office in Britain, plans are in place to cut 1,400 jobs over the next two years. Whilst the trade union described the cuts as brutal, chief executive , Ross McEwan, said the bank would try to avoid compulsory redundancies by redeploying staff where possible.
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