ETX Capital Daily Market Bite, 3rd April, 2013: Markets Weak After Previous Session Gains
April 3, 2013 9:06 am
April 3rd, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist
European markets have opened lower this morning, as political stalemate refused to abate in Italy. Risk appetite also retreated after Verizon Communications denied intention to merge with or make an offer for Vodafone Group, to which investors had responded positively in the previous session. Meanwhile, the British Retail Consortium reported that its annual shop price index in the UK rose 1.4% in March, marking the highest annual rate since December 2012 and compared to a 1.1% increase recorded in the February. Later, investors are expected to pay close attention to the release of economic data which might show that the construction PMI in the UK rose to a reading of 47.5 in March from a reading of 46.8 in February.
April 3rd, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist
European markets have opened lower this morning, as political stalemate refused to abate in Italy. Risk appetite also retreated after Verizon Communications denied intention to merge with or make an offer for Vodafone Group, to which investors had responded positively in the previous session. Meanwhile, the British Retail Consortium reported that its annual shop price index in the UK rose 1.4% in March, marking the highest annual rate since December 2012 and compared to a 1.1% increase recorded in the February. Later, investors are expected to pay close attention to the release of economic data which might show that the construction PMI in the UK rose to a reading of 47.5 in March from a reading of 46.8 in February.
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