Ger30, UK100 and SP500 are CFD’s, written over the Dax30, Footsie100 and S&P500 Index futures:
In the pre-opening, European stocks were trading higher, reflecting the good performance of Wall Street and Shanghai’s first signs. Today begins in Shanghai the G20 meeting which will continue until tomorrow. The state of the global economy and ways to stimulate are the main themes of this meeting. As this event will occur in China, monetary policy of the country and the ways in which its Government plans to implement also assume some relevance. At the opening of this event, the Chinese Minister of Finance announced that his country is prepared to introduce stimulus programs. In terms of results, the Royal Bank of Scotland reported a loss of 1980 M.£, which is essentially due to legal costs associated with litigation in which it is involved. If withdraw these costs, profits fell short of the estimated. Telefónica reported a loss of 1,830 M.€ due to restructuring costs. The revenues were able to beat estimates. ENI announced a higher than expected adjusted earnings. The behavior of European indices depends heavily on the evolution of S & P. If this ratio definitely overcome the zone of 1940-1950, the short-term upside potential of European equities is reinforced.