Risk off continues to dominate markets with the Euro slipping below 1.21 again versus the Dollar. Spain and Italy both sharply lower again, with the former down around 3%. Italian and Spanish debt have reversed gains made earlier in the session with yields on the latter rising to just shy of 7.5%.

Out of the US there has been a number of major companies releasing earnings, among them Dupont Q2 at $1.48 (vs $1.46 consensus), Whirlpool $1.55 (vs $1.69), AT&T 66 cents (vs 63c) and UPS $1.15 (vs $1.17),  with the latter cutting the FY forecast range and trading down 4% pre market.

 

Posted by Philip Ball | Sales and Trading