UK insurer Aviva Plc has come back after a long weekend and is posting good gains as their CEO has quit after several years of share price loss (a 60% fall) and rows over pay.  The gain is down to shareholders losing confidence in Andrew Moss, with him going Aviva have said they will be reviewing all of the companies business over the coming weeks and focusing on revenue generation going forward.  This positive move by the company has immediately attracted investors.

European Stocks are under pressure, which is of little surprise, as Greece's uncertainty is taking its toll.  Over the coming weeks and months this turmoil is going to have the markets swinging between down moves, brought on by Greece and Spain, and ups from US recovery and banks in healthy nations breaking their profit estimates as we've seen with HSBC today and China holding firm.

HSBC’s first quarters profits re affirmed further hope in the banking system with the global bank beating the analysts once again with profits of $6.8 billion compared to expected $5.8 billion.

Euro and the US markets will be under close watch as the first day after the long weekend and weather the euro can stay above the crucial 1.30 level. The road ahead however seems choppy.

Posted by Jonathan Bristow (JBristow@valbury.co.uk).