Spreadex Market Update
Euro markets open cautiously
The lacklustre performance of European markets today could also reflect investors adopting a ‘wait-and-see’ approach ahead of preliminary quarterly GDP figures due from the UK today. The markets have been bracing for a contraction by 0.1%. However, a figure which comes in worse than expected could cause investors to question whether there really are any worthwhile bargains amidst risk-on assets.
The ECB president, Mario Draghi, is also due to deliver a speech from Davos today. Although investors will be hoping for some glimpse as to the next step in helping to rebuild nations like Spain and Greece, it seems more likely that since the Eurozone is not in the spotlight at the moment, Draghi will do all he can to avoid talking about the current debt levels which would remind investors that the Eurozone is still in a dire economic state.
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