The weekâ€™s advance remains capped at the 5700 level, with the FTSE falling back below this point despite having managed to close above it yesterday.
However, the losses remain modest at this stage, and with little new to note this morning, it may just be that we are seeing a pause for breath.
Poorer US data yesterday had little impact, since bad news currently tends to increase the prospect of more easing in the US.
However, Microsoft‘s first ever quarterly loss dented the mood somewhat last night, as the tech giant was forced to take a significant hit on the value of its online ad business.
In a fairly light economic calendar today, the focus remains on US earnings with General Electric, Schlumberger and Xerox on the schedule.
It has been a quiet week in general, one mercifully free of Eurozone frights, but I wonder how long this can actually continue with Spanish and Italian yields remaining at or near to unsustainable levels.
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