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.
More Quotes from David Thwaites:
The first quarter should mark the trough in earnings, but judging by the market's negative reaction to recent warnings from the likes of IBM, there's little room for disappointment.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
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
The background news isn't that good with Iraq and corporate news isn't that positive, so it's probably a good reason for people to step back. We've also got technical things going on pushing things all over the place.
David Thwaites
I expect a fairly calm open, maybe slightly softer. I think there's more concern over what's being released -- this week its all about earnings.
David Thwaites
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