Markets weaken in afternoon trading

This afternoon’s economic data has done little to prevent the equity markets from sliding.

This morning the EU posted figures confirming that unemployment levels have remained stable as expected, although not quite reaching record highs. The more worrying aspect of the unemployment situation for Europe is youth unemployment, as some countries have some truly awful stats regarding the unemployment of those aged 25 and under. Greece has over 60% youth unemployment and this is the demographic that is most upwardly mobile. The potential ‘brain drain’ that is leaving Europe may not be fully appreciated for another ten or twenty years.

Vodafone shareholders are still feeling pleased for themselves; speculation is that around £40 billion of the proposed $130 billion Verizon are willing to pay to leave the partnership could be going to shareholders.

Unfortunately Vodafone’s good outlook is not enough to prop up the FTSE on its own. Although sentiment from the other side of the Atlantic is negative at the moment, after recent events we would not be completely surprised if the US markets were to charge higher once the European indices are closed. 

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