Spreadex Market Update
Activity relatively subdued
Whilst we have seen gains across all European indices, activity has been relatively subdued with volumes on the FTSE 100 at just 40 percent of the 90-day daily average. Analysts point to worrying European earnings with 39 percent of companies which have already reported first quarter results having missed expectations.
Gold has somewhat rebounded from the recent lows of 1322.15, climbing to $1,412.33 an ounce. However, gold is still heading for its fourth weekly decline with concerns that other European governments will follow Cyprus in selling reserves weighing on the metal.
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