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Morning Brief


Opening calls are indicating a higher open in Europe, as opinion polls in Greek indicate that pro bailout parties will be able to form a coalition government in the next election. The Greeks will go to the polls on the 17th June.

Meanwhile, the debate of Eurobonds continues among EU leaders, with Monti now saying that he is able to convince Angela Merkel. However, the Bundesbank chief Jens Weidmann dismissed growing calls for the Eurobonds to tackle the deepening debt crisis.

In Asia, shares are trading higher on eased concern that Greece will not leave the Euro. The Euro also strengthened slightly versus the dollar on the news.

US stocks fell on Friday again on negative pessimism in the Market about Europe and how the debt crisis is being tackled. The capitalisation of Spanish banks was also an overriding theme. The main averages however ended higher for the week.