11 Apr 2012: European stocks begin to recover, Indonesia on Tsunami alert

  • European Equities recover slightly, Commodities take a hit: After yesterdays big drop, Equities have begun to recover as the selling is not as frantic as yesterday. Italy has had a successful debt auction of €11bn, which has seen some calm being restored.
  • Stocks: FTSE All World  is up 0.21%, and FTSE Eurofirst which lost 2.5% yesterday, is up 0.6%; In Asia, FTSE Asia Pacific has lost 0.26%, while Tokyo slumped 0.8%; S&P 500 is also expected to recover at open; FTSE 100 is up 0.3% over Wednesday and today
  • Currencies: Dollar loses gains 0.3% against the Euro (at $1.311) but the Yen is down 0.3% against Dollar and Sterling has gained 0.34% against dollar
  • Commodities: Brent Crude is at $120.06/barrel; Copper is unchanged at $3.65/pound; Gold is at $1655/ounce
  • Indonesia on Tsunami alert: Indonesia are on a Tsunami alert after an 8.6 magnitude earthquake off the coast of Sumatra. Some scientists have said that the ‘type’ of earthquake has reduced the likelihood of a Tsunami as the earth moved horizontally, and not vertically.
  • Spanish bailout sparks fears: Investors fear that Spain could need emergency loans soon. Spanish 10-year yields have jumped over 6% while Spanish stocks have fallen 3% to their lowest level in over 3 years. While Spanish officials have stated that they ‘are quite structured in terms of the reforms’, investors and analysts are not at all convinced.

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