Most European indices are in the green this morning:
FTSE100 +0.38 per cent
DAX +0.44 per cent
CAC +0.69 per cent
IBEX +0.81 per cent
FTSE MIB +0.89 per cent
There was some improved consumer confidence data out of Germany as the Gfk Consumer Confidence Survey increased from 5.8 to 5.9. French consumer confidence remained unchanged. Generally markets are calming after yesterday's Italian panic.
The Spanish Prime Minister Mariano Rajoy has announced that a Spanish deficit of 6.7 per cent of GDP is expected for 2013.