YP75: Markets feeling the strain as pressure mounts on Eurozone

The German government decision to ban naked short selling in European government bonds, credit default swaps and German financial securities, increased anxiety and uncertainty among investors.

Following the announcement, rumours on the trading floor that other European governments may follow suit and impose a Europe-wide ban on some riskier practices, sent further shockwaves through the markets.

German Chancellor Angela Merkel's comment that the single currency was "in danger", highlights the degree of the crisis we are witnessing in the Eurozone.

To end the week, disappointing US employment figures, showing the biggest jump in jobless claims in three months, added to the markets' pain.

CPP Group, the international card and identity theft protection company, have seen a promising start to 2010 after reporting steady revenue growth, together with improved margins, for the four months January to April.

In addition, the company announced that underlying operating profit has also grown in line with expectations

while its annual renewal rate remains consistently around 77 per cent.

The York-based company provides customer assistance during stressful times and has only been listed on the London stock exchange since March.

Following its listing, the company has managed to reduce its net debt to 14m at April 30 from 49m at the end of last year.

On another encouraging note, the company's Asia Pacific business continues to show revenue growth while North American revenue remains in line with expectations.

The company is now offering mobile phone insurance to RBS and NatWest customers in an effort to expand its packaged current account business.

Elsewhere, the UK's largest coal-fired power station operator, Drax Group, reported solid operational performance for the year so far.

Despite the challenging commodity markets, the company continues to benefit from a strong contracted position with trading in line with expectations.

Having recently announced that the group's pledge to reduce carbon dioxide emissions at the site, near Selby, were being withdrawn, the news appears encouraging for investors, but it is unlikely to please the climate enthusiasts.

Meanwhile, Goole-based Just Car Clinics Group has seen an uplift in trading with repair volumes and profits for the first four months of the year ahead of forecasts.

The group, which undertakes collision damage repairs to all makes of cars, vans and motorcycles, has appeared to benefit from the heavy snow in January this year.

Ed Marsden, Assistant Investment Manager at Brewin Dolphin, Leeds