“Portugal, who?” was the market’s reaction in the European open and stocks looked like taking back a heft chunk of yesterday’s losses. The close isn’t painting a good picture which adds to the argument that Portugal isn’t the only driver.
- FTSE +0.3%
- Cac +0.3%
- Dax +0.1%
- Ibex -0.4%
- FTSE Mib +0.6%
- PSI 20 +0.6%
Having been up over 2.5% it will be a worry that the PSI is looking to finish up only 37 points or 0.6% and it’s a similar picture across the board.
PSI 20 11 07 2014
European bonds
- Italy 2.89% -5bp
- Spain 2.77% -5bp
- Portugal 3.86% -12bp
- Germany 1.20% flat
Let’s just hope our old friend, volatility, who paid us a visit this week returns next week.
