UK and US markets predicted to rise

By MoneyhighStreet Staff. Published on May 27, 2008 This post currently has no comments.

global markets
Reports suggest that the stock markets in both the UK and US could rally today, flowing increases in Asia over the bank holiday.

Bloomberg has reported that yesterday (May 26th) Asian stocks bounced back from five days of drops, prompting speculation that UK and US markets could rise today.

In particular, the news that Vodafone recorded a 5.7 per cent increase in group adjusted operating profit over the last financial year could help drive markets.

Oliver Stevens, head of dealing at IG Markets in Melbourne, explained to Bloomberg: "Vodafone results will probably be a driver."

David Buik, a market analyst at BGC Partners in London, added that "the market will like these numbers'''' and explained that news that Arun Sarin will step down as Vodafone''s chief executive, to be replaced by Vittorio Colao, would be more news welcomed by investors.

The news agency also noted that Infineon Technologies AG could see rises today, after Europe''s second-biggest semiconductor maker revealed that it would look to a new chief executive to help increase margins.

Finally, Royal Dutch Shell could benefit from rising oil prices, Bloomberg concluded.