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Greece agreed new austerity package with its creditors

Article By: ,  Financial Analyst
October 25, 2012 12:20 PM

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- Markets have experienced a slight boost today amidst news that Greece has agreed a new austerity package with its creditors. This, along with a strong mining sector has left the ftse up 12 points at 5831.

- Over in Europe the CAC and DAX are up 18 and 40 respectively at 3448 and 7238.

- Wall Street closed down 25 points at 13077 after hopes for any further quantitative easing are diminished, especially in light of the imminent election.

- Drilling down into these indices top of the pile is Unilever up 3.4% after reporting favourable results on the back of strong demand from emerging markets including china.

- Also, in the FTSE 250 Debenhams has leapt 7.66% after it announced very favourable results including a 4.2% increase in profits. On the other side of the coin advertising giant WPP has cut its full year outlook for the second time in the last few months losing 2.66% of its share price.

- Once again it’s a big day in America for earnings reports the highlights to look out for being Expedia, Sprint Nextel, New York Times, Coca-Cola and the big one.

- Apple who took a hit yesterday after a lukewarm reception to their new iPad mini. For a full list of companies reporting please check out the market analysis section of the website.

- Today’s big macro new, the UK has finally climbed out of recession in the past quarter smashing expectations to show a 1% quarter on quarter increase in GDP with a welcome boost coming from the Olympics. 1.30pm sees core durable goods orders, unemployment claims and pending home sales coming in from the US, good results there could see a decent uplift across the board before the weekend.

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