The FTSE saw some recovery yesterday, rising by 72.81 points after hitting five month-lows the day before. The US saw strong data beats, and those are expected to give some momentum to European markets when they open. However Asian markets saw a turbulent session.
45 minutes to go and a modestly positive start for the FTSE100 expected, +10 points at 6112.Live price on the web: http://t.co/l7LFqXn9ZX— David Jones (@DavidJones_IG) June 26, 2013
Asian shares stabilised somewhat overnight, as the Chinese central bank calmed markets. The People's Bank of China (PBOC) said that it had helped some banks and that it is ready to act again as a lender of last resort.
THE PBOC said that it would actively inject cash "based on the market's actual situation" and would "adjust banking system liquidity in a timely manner".
Today's key events:
- German consumer confidence numbers for July are out at 7.00. Economists are forecasting that confidence will stay flat at 6.5.
- US GDP revisions for the first quarter of 2013 at 13.30. This number is expected to stay flat at 2.4 per cent (on an annualised basis).