Asian shares fail to dispel fears of global growth & Tesco experiences further woes.
October 13, 2014 8:00 am
Promising trade numbers out of china failed to lift the markets as the concerns over global growth kept Asian shares at a seven month low and caused the Dow to close 115 points down at 16544 and the SP500 to close down 22 points at 1906. The Yen reached a one-month high against the greenback at 107.06, pulling well away from a six-year trough of 110.09 per dollar, whereas against the Euro the dollar rose half a percent to $1.269. The Australian dollar gained 0.6 percent to $0.8734. The Aussie rose 0.1 percent to 93.58 yen, having hit a low of 92.82 yen earlier on Monday, its lowest level since late March.
Within the commodities space gold traded at $1231 pulling off its 15 month low which it plumed to last week. Concerns on global growth and over supply have caused Brent crude to drop $25 since June and on Friday came within touching distance OF $88a barrel for the first time in nearly four years.
Tesco is set for further woe, reporting this morning that two more board members will be departing the business. The stock was down 0.26% on the morning trade, at 185p per share.
Traders this week will be keeping a close eye on the next few days which will undoubtedly take centre stage as consumer price index inflation readings in the UK and Euro zone are released on Tuesday and Wednesday sees the UK unemployment figure.
This morning both the FTSE and the Dax are trading lower by 27 and 68 points respectively.
Promising trade numbers out of china failed to lift the markets as the concerns over global growth kept Asian shares at a seven month low and caused the Dow to close 115 points down at 16544 and the SP500 to close down 22 points at 1906.
The Yen reached a one-month high against the greenback at 107.06, pulling well away from a six-year trough of 110.09 per dollar, whereas against the Euro the dollar rose half a percent to $1.269. The Australian dollar gained 0.6 percent to $0.8734. The Aussie rose 0.1 percent to 93.58 yen, having hit a low of 92.82 yen earlier on Monday, its lowest level since late March.
Within the commodities space gold traded at $1231 pulling off its 15 month low which it plumed to last week. Concerns on global growth and over supply have caused Brent crude to drop $25 since June and on Friday came within touching distance OF $88a barrel for the first time in nearly four years.
Tesco is set for further woe, reporting this morning that two more board members will be departing the business. The stock was down 0.26% on the morning trade, at 185p per share.
Traders this week will be keeping a close eye on the next few days which will undoubtedly take centre stage as consumer price index inflation readings in the UK and Euro zone are released on Tuesday and Wednesday sees the UK unemployment figure.
This morning both the FTSE and the Dax are trading lower by 27 and 68 points respectively.
Related Posts: