At the end of one of the most volatile markets seen in global equities, most markets are looking firmer. 

In an effort to smooth out the enormous intraday swings in index values, France Italy Spain and Belgium have banned short selling for 15 days and this has caused a great deal of short position squaring, which will underpin sentiment for now.

The swings over the last week in senior markets have been in the order of 10% regularly but the early signs today are of a calmer trading environment, leaning to the positive. It is unlikely to stay that way when markets open up next week however.

The feeling is that this crisis is not finished and there could easily be another leg or two downward left.