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Monday May 17, 2010 - 11:59:20 GMT
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Market Briefing: European SessionMarket Briefing: European Session
Despite the broad selloff in Asian stocks that saw the major indices end the day down between 2 to 3 percent, equity markets in Europe have managed to erase their early losses and the FTSE and DAX are currently up almost one percent. This has led the euro and especially the sterling to rebound on short-covering from the fresh lows made earlier today.The CBI industrial trends survey improved from -36 to -18 but the economic data calendar for the rest of the day is somewhat thin with only Empire State manufacturing and TICs flows due out. However, there is a meeting for euro region finance ministers and SNB Chairman Philipp Hildebrand is scheduled to a make a speech.
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