US markets have opened firmer on better than expected corporate earnings, Caterpillar in particular the standout with a quarterly EPS of $2.54 vs a consensus of $2.28 and the company raised their FY profit guidance, the stock trades around 2.5% higher (having been up 5% earlier in the session). US home sales just released show new sales falling 8.4% to 350k annual rate, lower than expected but there was an upward revision on the previous month.

Europe still trades higher despite a weaker than expected UK GDP number earlier today, and a denial from Spain that Germany were seeking a full bailout for the country.

 

Posted by Philip Ball | Sales and Trading