So the Fred Karno Circus – alias the EU/IMF/GREECE slapstick comedy troop – is back in town! More rumours and counter rumours that one could shake a stick at, the most preposterous being that Greece was considering suing the EU for driving them out of the union and the most viable one suggesting that the EU will be offering fresh bail-out terms. That has a certain resonance to it. At the 11.9th hour Greece finally agrees terms pro-tem; Tsipras goes! Then we face the same problem in 6 weeks’ time, 6 months’ time, 1 years’ time and maybe 3 years’ time, when eventually Greece departs!
So uncertainty prevails! – The FTSE at 11.44am is down 25 points at 6595 – pharmas are flat, energy is down 1%, mining down 0.5% and banks down 0.5%. Conditions are decidedly sepulchral. Mary Magdalene would have been very comfortable.
Those companies that reported today – Imagination Group +2%, Ocado -1%, Northgate-8%, Ladbrokes – on talks still goin on – flat.