Asian markets are trading lower, with Japan’s Nikkei hardest hit down 1.4%, no significant news out on light volume.

Out of Europe, Fitch has affirmed Italy at A- with a negative outlook, whilst the German lower house of parliament approved the Spanish bank bailout, and finance minister Schaeuble has said German growth in Q2 will be lower than that of Q1, but does see moderate growth later this year. Meanwhile, on the corporate front Vodafone released their Q1 trading update, and said sales growth missed targets but confirmed their FY guidance.

US futures are indicating around 50bps lower ahead of a day with no major economic data due, but expect quarterly earnings from General Electric with consensus for EPS at 37 cents. European futures are looking slightly lower on what appears to be a very low key day.

 

Posted by Philip Ball | Sales and Trading