Greek pro bailout win outweighed by Spanish borrowing costs spike

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US markets closed on a mixed note yesterday with the FTSE 100 gaining 0.2 % and wall street erasing 0.2%.
A win of pro-bailout parties in Greece was outweighed by a spike in the Spanish borrowing costs which hit a euro-era record high.
Uncertainty has continued into this morning session as world leaders who meet in Mexico for a G20 summit urge Europe to take all necessary measures to overcome the eurozone debt crisis.
UK Consumer Price Inflation has come in less than forecast in May at 2.8% vs expectations of 3%. This has fuelled speculation of further stimulus from the bank of England and pushed the FTSE 100 up 50 Points to around 5535.
Figures show this morning that German Investor confidence has declined the most since October 2008. However The Dax is currently showing gains of +22 at 6270 and the French CAC is flat at around 3070.
A busy morning so far however we are not expecting any further economic data but will be monitoring reports from the G20 and developments in Greece.

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

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