Market round up

Strong aftershocks in Japan have not caused widespread damage, certainly no more to the stricken Nuclear reactor in Fukushima and the Japanese stock market finished higher by just under 2%. The news of the earthquake took the shine of the US stock market in their late afternoon session as the US struggles to agree a budget.

Oil prices remain high as the situation in Libya looks set to run for quite a while and the market is concerned about disruption to supplies and even higher prices. This is causing global concern regarding inflation, especially here in the UK where recent retail figures are not good and a number of high street names are in trouble, battling intense internet competition as well as the recession.

Eurozone Finance ministers meet in Budapest today to agree on the amount of the bailout  Portugal is to receive and the terms and conditions of it.

Given all the variables, the equity markets are remarkably calm, underpinned by encouraging economic date from the US and Germany in Europe and the safety net now in place to rescue troubled members of the Eurozone, which cancels out the fear of contagion to a great degree but not entirely.