Market update: European markets remain close to 23-month highs

US stocks closed higher on Friday with both the Dow and the S&P 500 up 0.5%. Shares in the iPhone maker, Apple, slumped 12% over the week as investors reacted negatively to its latest quarterly results. Meanwhile, shares in Netflix soared 71% for the week, as the company revealed a surprise profit and an increase of 2.5m subscribers in its latest quarter.

In early morning trading the FTSE 100 is flat while the FTSE Eurofirst 300 is down 0.1%. European stocks remain relatively unchanged as investors await reports on US durable goods orders and pending house sales. Shares in New World Resources slumped after revealing that the price it could sell its thermal coal in 2013 had tumbled as the market was hit by oversupply. Elsewhere, budget airline easyJet was lower after revealing that its Chairman, Sir Mike Rake, would step down this summer.