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Jarman: Cautious market optimism after Apple and Facebook

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There's cautious optimism on the markets this Thursday after Apple and Facebook beat expectations after the bell in New York. That's according to H20 Markets' Michael Jarman. He says that after a raft of companies in the States have impressed, we could be testing S&P highs again very soon.
Apple was the star performer; margins and revenue beat and it announced a share buyback programme, a dividend rise and a stock split. Michael says Apple's a fundamental long term buy for the rest of the year.
The focus switches to European earnings next week. Michael looks ahead to the likes of BP, Royal Dutch Shell and the big banks and suggest how investors should be playing things.