European markets gain after Intel numbers - JP Morgan eyed

Joshua Raymond, Market Strategist at City Index commented: "Investors continued to buy into equities on Friday after Intel announced consensus beating numbers. However, much or the news had been somewhat priced in after yesterdays gains and investors have quickly refocused their attention towards JP Morgan's results due out at noon.

Intel earnings boost

We did see a number of speculators come in to buy the market yesterday on hopes that Intel's earnings would beat expectations and so there seems only muted room for upside manoeuvre now that this happened.

JP Morgan eyed

After Societe Generale's profit warning earlier in the week, JP Morgan's earnings are taking extra focus today and as a result, gains made in the morning session are on a bit of a leash.

Investors seem convinced that we are on the path to recovery and now the real question will be is what will that path look like and therefore outlooks for 2010 and thereafter remain the key focus. Unless JP Morgan causes a bit of a surprise, it is looking like we could be about to finish on our first weaker trading week of the New Year."