Daily market snapshot: US and Euro markets up as US exits recession

US GDP figures released yesterday showed the world's largest economy has returned to economic growth, leaving the UK the only major economy still in recession. The US economy grew by 3.5%, and equity markets reacted positively, with the S&P 500 adding 2.3%. Financials were especially buoyant.

European markets also responded well to the US data, making strong gains in the afternoon session, the FTSE 100 finished up 1.1%, and the FTSE Eurofirst gained 1.6%. European markets are roughly flat so far this morning. Advertising giant WPP showed gains after saying conditions are ‘less worse'. Thoughts (with Henderson New Star) As Royal Mail (RM) postal strikes continue, it is said that London businesses alone have lost £500m as a result. Impacts are far-reaching but which areas of the market are worthy of our attention? With piles of undelivered post gathering dust, electronic ...