-Draghi: Euro is irreversible
-Spanish 10 year bond yields rising by 4bp to 5.85%
-Slovenia struggles not to become sixth country to ask for a rescue-Bbg

FTSE 100: 0.13%
Dax-30: 0.07%
Cac-40: 0.32%
FTSE-Mibtel 30: 0.23%
Ibex 35: 0.19%
Stoxx 600: 0.09%

European equities are holding slightly higher after the start of European Central Bank (ECB) President Mario Draghi's press conference this afternoon. So far he has reiterated that downside risks to economic activity continue to lie to the downside. This after beginning his remarks by stating -again- that the single currency is 'irreversible.'

That following yesterday's rise in global composite purchasing managers' data, in no mean measures due to positive macro-surprises Stateside and ahead of the release, tomorrow, of the all-important monthly employment report on the other side of the Atlantic, in the United States.

Worth pointing out, this morning's Spanish Treasury debt auction failed to inspire markets, although it came in quite solidly. That as The Telegraph reported that senior officials from Germany and other parts of the Eurozone's AAA core have warned Spain privately that angry parliaments are likely to impose stringent conditions on any further rescue loans. Fear of escalating demands by Germany, Finland and Holland is a key reason why Spanish premier Mariano Rajoy continues to drag his feet on a full sovereign bail-out.

The US Federal Reserve will release the minutes of its last rate setting meeting this evening, at 19:00.

EdF to go on a hiring spree

Nobel Biocare is sinking by 7% after saying a drop in the Japanese market in the third quarter is "materially impacting" full-year sales and profit.

Telefonica plans to reduce its fleet of private jets as part of an effort to lower costs.

EdF has said it will hire 6,000 workers in France this year.

ThyssenKrupp is up after a report that Korean steelmaker Posco submitted a letter of intent for its American unit.

Small rise in single currency

The euro/dollar is now up by 0.51% to the 1.2976 level.

Front month Brent crude futures are rising by 1.537 dollars to the 109.86 dollar mark on the ICE.



AB

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