FTSE Recovers as Greek Worries Continue

Leading shares are moving higher after Thursday’s dip and despite continuing worries about Greece’s precarious financial situation.

Among the risers is ITV, as analysts at Liberum listed it as one of its group of potential takeover targets. The broadcaster has been buying up programme makers, including the company behind The Voice, Talpa Media, in an attempt to broaden its studio business and reduce its dependence on advertising. But this could put it in the takeover spotlight, said Liberum:

ITV’s recent content diversification makes it an attractive M&A target [although] ITV has been called very pricey by a couple of conglomerates.

But Liberum still has a buy recommendation with a 330p target price. In the market ITV has added 3.2p to 269.3p.

Overall the FTSE 100 has climbed 18.51 points to 7078.96, with UK unemployment rate falling to 5.6%, its lowest since July 2008.

Investors will be watching out later for US inflation figures and a sentiment index, for further signs about when the Federal Reserve might raise interest rates.

And of course the continuing attempts by Greece and its creditors to resolve the country’s debt crisis before its cash runs out will also be crucial to market sentiment.

Trading volumes were likely to be lower than normal after technical issues at Bloomberg.

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza