Disappointing US results weigh on markets

Markets dipped into the red this afternoon after a weaker start in the US, as a round of poor corporate updates weighed on investor sentiment, compounding eurozone fears.

Following the sharp sell-off yesterday on renewed concerns over Spain and Greece, markets had been expected to climb today as buyers returned. However, gains at the opening bell on Wall Street proved short-lived, with indices sliding into the red amid a disappointing round of corporate updates. UPS, the parcel delivery giant, missed expectations with its quarterly results, hurting investor sentiment, with the S&P 500 down 2 points at 1,348 by 14:47pm, and the Dow down 0.5% at 12,663. The muted start Stateside also fed into European stocks, with the FTSE 100 6 points lower at 5,527,...