Asian markets lower this morning along with the Aussie dollar and commodities as concern of further disagreement amongst European leaders will hinder the resolution to the debt crisis. Canon fell almost 4% after violent anti-Japanese protests forced an extension of the closure of one of their Chinese factories.
Eurozone member states are planning to boost the size of the ESM rescue fund from 500bn Euros to 2tn Euros according to an article in German newspaper Der Spiegel. Spain are due to announce new economic reforms this week, and could lodge a formal request for help from the ECB within days. European equity futures are indicating around 50bps lower.
Philip Ball | Sales and Trading