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UK stocks hold gains
Equities pushed higher in anticipation of the European Central Bank loosening its monetary policy, with stocks holding onto their gains in anticipation of Mario Draghi having something up his sleeve.
In the end nothing new was delivered, with the ECB chief claiming he does not see any signs of deflation; however, I suspect that he simply does not want to give into the pressures of quantitative
easing from equity markets. Mr Draghi may chose to ignore weak consumer confidence and narrow credit lines but he knows a stimulus package is a last resort.
SuperGroup is in fashion with investors after the company revealed a solid Christmas period.
Tullow Oil sealed a deal with the Ugandan government to start oil production in the country. Statoil will announce its quarterly figures tomorrow; the Norwegian company has been eyeing the Irish oil and gas explorer recently, and both could move on the back of the earning announcement.
Unemployment benefit boosts Dow
In the US the Dow Jones is up 130 points at 15,570, as the number of people claiming unemployment benefit dropped more than expected which puts the market in a good position ahead of the jobs report tomorrow.
Shareholders in Twitter had very little to say for themselves after the stock opened over 20% lower today, after the social media firm revealed a loss last night.
The New York Times must be read all over as the stock is in the black today; the share price is 5% higher as quarterly revenue exceeded estimates.
Gold knocked by equities
Gold has dipped as the excitement surrounding equities has taken the shine off the precious metal.
Currency war cools off
The US dollar is off against most major currencies as panic over a currency war has dimmed.