Markets shrug off debt doom and gloom

On the back of a raft of enouraging corporate data, markets have surged around the world , shrugging off the S&P debt warning in the US.

Excellent results from Intel who reported a 29% increase in first quarter revenue and IBM's 10% increase in earnings have encouraged investors in the US, that has spilled over into Asia and Europe also.

However a lot of investors are getting into gold still, not convinced that rising inflation, the prospect of higher oil prices and massive debt problems across the globe is a stable backdrop for equity investment.