Expect equities to start moving upwards again: Nomura

Here are experts equity calls for the day on how the markets are expected to trade:

Chris Wood, CLSA: While the renewed risk on trade is being driven by European Central Bank (ECB) talk of potentially unlimited buying of Eurozone periphery sovereign bonds, the reality is that no ECB bond buying will happen unless the relevant periphery nation submits to the necessary conditionality. In Greed & Fear's view, the market reaction is overdone. Investors should closely watch the developments in Germany and Spain.

Michael Kurtz, Nomura: With the ECB pressing onward with direct monetisation and short-term global sentiment barometers now looking less stretched than 2-3 weeks ago, the need for a tactical consolidation has been satisfied. We expect equities to start moving upwards again.