Betonmarkets.com Afternoon Report

Markets are having a reasonable day today as economic indicators continue to show signs that the global economy has stopped cliff diving. ‘Less bad' is the new good it seems. Today's ADP employment data showed that private employers cut 473,000 jobs, still much worse than pre Lehman Brothers levels, but it is getting less severe by the month. ISM manufacturing data is showing a similar trend.

Resource stocks are a good barometer of global economic sentiment and today the miners and energy firms are the standout performers.

The dollar is being forced onto the back foot today with losses against the pound and euro. The euro looks the pick of the currencies today, with particular strength against the dollar. Currency markets aren't looking at the positives in the ADP data as equities appear to be doing today.