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Morning Brief


Opening calls are indicating a slightly higher open. The Greek government said late Thursday that it expects to get euro zone approval for a debt swap scheme with its private creditors – a key factor in ensuring it doesn’t default on its debt – on Monday.

The Nikkei and Hang Seng averages are both trading higher in the current session.

U.S. stocks closed more than 1% higher Thursday as positive domestic economic data comforted investors nervous about Greece’ ability to secure a second bailout.

Events Today

There are several key meetings in the euro zone Friday. UK Prime Minister David Cameron will meet French President Nicolas Sarkozy in Paris. The two men recently exchanged words over the UK’s refusal to back a new euro zone treaty. Italian Prime Minister Mario Monti and German Chancellor Angela Merkel will meet in Rome to discuss Italy’s efforts to avoid Greece’s fate.

UK monthly retail sales for January, expected at 0930 London time, will give some indication of how the UK consumer is faring.