European equities were set to open higher Today, with investors waiting for minutes from the Bank of England and macro-economic data from the U S. The Dow Jones industrial average rose 30.46 points, to close at 10,437.42. The Standard & Poor’s 500 Index rose up 1.02 points, or 0.09 percent, to 1,110.32. The Nasdaq Composite Index added 5.93 points, or 0.27 percent, to 2,203.78. The benchmark Nikkei shed 53.13 points to 9,676.80. The Topix lost 0.8 percent to 850.06, its lowest close since May.

US President Barack Obama is visiting The Great Wall of China today –as his tour of the region ends it seems the stumbling block of China’s currency will be just as tough to surmount. In September, the Eurozone unexpectedly posted a trade surplus, with exports expanding by a healthy 5.5 per cent on the previous month. Over the third quarter as a whole, exports rose by 3.7 per cent, which was the first quarterly rise since the second quarter of 2008. Yesterday, figures for October showed that America’s recovery in industrial production may be loosing momentum. Activity only rose 0.1 per cent on the month, which was entirely down to 1.6 per cent rise in utilities output. The September figure was also revised lower.

Due for release today there is the GBP Bank of England Meeting Minutes, EUR Euro-Zone construction output, GBP U.K. CBI Industrial Trends Total, CAD Bank Canada Consumer Price Index, USD Consumer Price Index and USD Consumer Price Index and  USD Housing Starts.

By Greg Secker

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