Spreadex Market Update

Euro equities open lower



European equities are set to open lower amid concern an unprecedented levy on bank deposits in Cyprus will plunge Europe back into crisis. The Euro also declined overnight in Asian markets as Cyprus plan to impose a one-time levy on bank deposits as part of a sovereign bailout deal.

 

WTI oil fell from the highest price in three weeks on reaction to the Cyprus bailout deal and as Libya shut a crude pipeline due to protests.

 

Meanwhile Marks & Spencer continued to be in focus as fresh bid speculation emerged on Sunday that a Qatari sovereign wealth fund may pay £8 billion for the high street firm. This comes after M&S reported a year of weak trading and a flat share price. 

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