Europe will rely less on Wall Street, as economic trends take over. |
Generally, markets are mildly up. But this hides the growing nervousness or uncertainties that really have developed in the second quarter. |
Ironically, it could be a nice finale to the quarter. |
It would seem the bank now realizes that we are falling into a bit of a deep hole. |
It's now coming back in a better quality. |
London is still seen as the crossroads of all markets. Europe is roughly on its doorstep, one hour distant, New York is five hours distant and there's the cross-over with the Asian markets. |
The market is not expected to do anything much. |
The markets' resilience at the moment is remarkable. |
The U.S. could have gone for the jugular, but it decided to make an issue of it [banana imports], without causing massive problems. |
There are two things here, both are a hang-over from America. |
This is a market that will not do what may be obvious. It's sentiment-led, rather than value-led. If we stabilize, people may try to cherry-pick in blue-chip and growth stocks, but if we head lower investors may get defensive again. |