Betonmarkets.com Afternoon Report

It's been a good start to the week for equities so far today with major indices managing to build on early morning interest. What is most impressive about today the rally is the breadth of today's buying. Most sectors are on the advanced with banks and energy firms leading the way. UK banks such as Lloyds Group and Barclays are amongst the best performers after positive comments from Goldman Sachs, but other sectors are playing their part with pharma and utility stocks on the rise. Energy stocks in favour as oil recovers the $70 level despite cautious notes from the IEA. Attacks by Nigerian rebels have contributed to higher energy prices today despite expectations of sluggish demand.

We do have a busy week ahead of us on the economic announcement front so investors appear to be taking their positions ahead of what could promise to be a volatile week. Any gains made today could easily be wiped out by one of the week's top level economic annoucements.