Equity Markets Continue Modest Rises Higher; Christine Lagarde Chosen as IMF Director

Equity Markets Continue Modest Rises Higher; Christine Lagarde Chosen as IMF Director by Richard Cox UK equity markets are looking to see a higher open, with FTSE futures suggesting a rise of 30 points. Macro data will come in the form of M4 Money Supply and Mortgage Approvals, with European Nickel and Betfair Group reporting earnings today. Asian markets were higher for the most part, which is indicative of the market's perception that the Greek Parliament will vote to enact the austerity plan proposed by the EU. In Japan, stocks rose, helped mostly by the utility sector, with Tokyo Electric Power (which is where most of the attention has been focused) making gains on government stimulus proposals. The Nikkei is up 1.2%, rising above 9,750. In China, markets are negative on the day, once again led by the banking sector. US stock futures are following Europe's lead, as the S & P 500 futures are suggesting a ten point rise. Macro data during the North American session will come in the form of Pending Home Sales and Mortgage Applications. Earnings releases will be seen from General Mills, Family Dollar Stores and Monsanto Co. After yesterday's close, Bank of America rose 1.1%, after disclosing a mortgage backed security agreement. Sealy also saw significant gains (up 9.2%) after releasing strong earnings for the second quarter. The S &P 500 finished the day 1.3% higher, as the market seems to approve of the way the debt situation in Greece is being handled. European markets are still seeing most of the gains, with the DAX futures showing a rise of 33 points with the CAC following suit, gaining is 15 prior to the session's open. Macro data today will be GDP from France, and the Eurozone Consumer Confidence Survey. Swiss will also be released, with the KOF Leading Indicator scheduled today. European banks made some headlines today, as Deutsche Bank selected Anthony Whittemore, as the head of the North American M & A division. Commerzbank also released a statement saying they plan to target smaller companies ... Read the full post at Spread Betting, where you can also find free guides to technical analysis, financial news, and reviews of spread betting companies such as ig index.