Markets Not Driven by Earnings Results: Analyst

2:00 AM ET Wed, 10 Aug 2011

"Day-to-day, markets aren't necessarily being driven by corporate earnings results," Simon Maughan, co-head of European equities at MF Global told CNBC. "In sectors such as financials, where there have been huge concerns about capital for several years, there has been a change in focus in the way investors are approaching results," he added.