I think there are worries about key economic data coming out today and the rest of the week, which is taking the focus off the recovery that is supposedly occurring.
More Quotes from David Thwaites:
I would hope that we could sustain the bounce we had yesterday (Tuesday), with the good news from Dell. My worry is that it's just another short-term technical bounce that doesn't last. My suspicion is we'll take profits.David Thwaites
I thought we would have been lower -- maybe the U.S. will follow Europe higher. I don't think there's a fundamental reason for it, other than what's going on in the banking sector.
David Thwaites
I suspect it's going to be a fairly weaker open. Stocks are still looking for direction in Europe -- there are no big macro drivers today.
David Thwaites
As far as European companies are concerned, the United States is still the place to buy companies and to get long- and medium-term growth. What you've got is a utility in the U.K. that is very much constrained by government price caps and regulations and is looking to expand into freer and faster-growing areas and it's clearly looking at the U.S. This is the third deal they've done in the States and I think it's a good one.
David Thwaites
There's relief that there hasn't been any particularly bad news out of the United States, but the focus remains on earnings, both there and in Europe.
David Thwaites
Reality bites. Micron underlines that despite the market run-up recently, there's still no confidence about growth and earnings.
David Thwaites
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