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In order to succeed he will no doubt need oil prices to cooperate, but the 'all tools at his disposal' talk has more than a passing resemblance to his 'whatever it takes' game plan. It looks like European equity markets are going to struggle to make it a clean sweep for the week. After four days of steady improvements, equities look like they have finally run out of steam as red once again dominates trader’s screens.
ABN Amro’s IPO has allowed the Dutch government to claw back part of its €22 billion outlay for bailing out the bank during the banking crisis. George Osborne will no doubt take this as good news as investors appear eager to gain a greater exposure to the banks.
The bid speculation surrounding Imperial Tobacco has seen the company outperform all of the FTSE as traders assess the merits of either a bid from BATS or Japanese competitor Haque. Although this story has limited facts to back up the conjecture, in the city there is never smoke without fire.
Ahead of the open we expect the Dow Jones to start 36 points higher, at 17,768.