The U.S. could have gone for the jugular, but it decided to make an issue of it [banana imports], without causing massive problems.

Generally, markets are mildly up. But this hides the growing nervousness or uncertainties that really have developed in the second quarter.

Europe will rely less on Wall Street, as economic trends take over.

It’s now coming back in a better quality.

The markets’ resilience at the moment is remarkable.

The market is not expected to do anything much.

There are two things here, both are a hang-over from America.

Ironically, it could be a nice finale to the quarter.

This is a market that will not do what may be obvious. It’s sentiment-led, rather than value-led. If we stabilize, people may try to cherry-pick in blue-chip and growth stocks, but if we head lower...

It would seem the bank now realizes that we are falling into a bit of a deep hole.

London is still seen as the crossroads of all markets. Europe is roughly on its doorstep, one hour distant, New York is five hours distant and there’s the cross-over with the Asian markets.