Markets Rise, as Geopolitical Concerns Recede a Little

Many European markets bounced back this morning, ignoring the geopolitical gloom and the slowing Eurozone economy. Russia’s MICEX index has been rising for the fourth straight day. Yet Eurozone inflation is disappointing, with some countries showing signs of deflation. U.K. unemployment fell back to 6.4% a level last seen in 2008. But wages are falling too – the first quarterly decline since 2009. Bank of England Governor Mark Carney won’t be drawn on the timing of interest rate rises. German power company E.ON rises on Frankfurt market, despite lackluster figures. It says it has been doing well, in difficult times. British car insurer Admiral slumps on London market, but life insurer Prudential rises.