BetOnMarkets Afternoon report

Erik

BetOnMarkets Representative
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Please find below the Afternoon Report from David Evans, market analyst
at BetOnMarkets.com

World equity markets are lower today, but only slightly. The WHO
elevating the swine flu outbreak to pandemic status has certainly hit
markets with individual sectors such as travel firms and energy stocks
selling off the most today. In a replay of the moves seen during the
outbreak of SARS virus, pharmaceutical firms are actually rallying today
as traders speculate that the sector could profit from futures
investment in finding a cure. Astrazeneca in particular is finding
support after European regulators approved the use of its drug Iressa
for certain lung cancer patients.

With further details on the results of the bank's stress test expected
soon, investors certainly don't need any excuses to sell today. Anyone
coming late to the rally may be quick to sell at the moment. The bullish
sentiment hasn't completely evaporated though and world markets are
actually recovering well as the afternoon progresses.


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