Some good news and some uncertainty (ISFM) (19-03-2010)

Although indecision among the European states with regard to the debt issues of Greece has been casting a shadow over markets, there were also some good news from Europe coming from the banking sector, as Lloyds Banking Group, which has been partly nationalized, issued a positive trading update.

In Asia, stocks were declining in early trader but later found a footing and ended in positive territory, as most indices closed with gains.

Oil prices were foundering below the $82 per barrel mark and among currencies the U.S. dollar advanced, while the euro took another hit amid the ongoing uncertainty over Greece finances.

In Europe, major indices were rallying with shares aiming at a fresh high on the year, as Lloyds Banking Group advanced after saying that it expects to report a profit for 2010, pulling the sector higher as a result, as financials were sought throughout the region, including Germany's Deutsche Bank AG and Commerzbank AG, as well as France's Credit Agricole SA and BNP Paribas SA. Lurking in the background ongoing concern about Greece's debt crisis was casting a shadow.

Back in the U.S., stocks on Wall Street were aiming higher led by the industrial sector after Boeing said it would boost aircraft production on an expected increase in demand, and weekly jobless claims fell, although “quadruple witching” Friday might throw a spanner in the works, causing high volatility.

Source: ISFM