It was a mixed day for European and US markets yesterday  with disappointing retails sales number coming out of the US for a second month in a row. Any bad news is taken very seriously at the moment and is enough to spook the already nervous investors. Markets are apprehensive going into the weekend with regards to the outcome of Greek elections and a further declining state of other European economies such as Spain and Italy, a rise in Italy and Germany’s bond yields yesterday didn’t do the market sentiment any favours.

European markets are looking to open lower and are under pressure after Moody downgraded Spain and a sharp rise in German and Italian bond yields. It looks unlikely that the markets will see a clear direction going into the weekend

Posted by Khurram Ali