The DAX Takes a Tumble, Tesco Falls Further After Buffett Admits ‘Mistake’ to Buy Stock
October 3, 2014 7:43 am
The Hang Seng Index re-opened after a public holiday hiatus yesterday – it closed up by 0.64% this morning after protests in Hong Kong remained peaceful. Hong King Chief Executive CY Leung refused to accede to the protestors demands for him to resign, but has expressed willingness to initiate direct discussions with protest leaders. Over in Europe Germany’s DAX Index is closed due to a public holiday today; the DAX closed down by 1.99% yesterday, falling after Mario Draghi failed to provide much of an answer concerning further plans by the ECB to aid the ailing Euro zone economy. Initial indications of a significant stimulus package seem to have been shelved, after German financiers roundly condemned any move in that direction.
On the FTSE, Easyjet is up by around 6.5% this morning after announcing a £5 million increase in revenue, as well as a boost in profit forecasts for the first 9 months of 2014. The low-cost airline benefited from the recent industrial action by Air France, which saw much of the French airline’s fleet grounded over the course of a few weeks. Meanwhile, Tesco is the major loser on the FTSE this morning, currently down by around 1.66% after comments made by Warren Buffet yesterday. The octogenarian billionaire investor described his investment in Tesco as ‘a huge mistake’, dealing yet another blow to the already reeling supermarket chain. Buffett still owns 4.1% of the supermarket chain – a stake which has lost around $750 million so far in 2014.
Later today we’ll be seeing Nonfarm Payroll numbers out of the US. August saw the NFP increase by 142,000 jobs, expectations are for 215k growth for September, though in recent months such predictions have proved to be shaky. PMI numbers from Markit and the ISM are also due.
The Hang Seng Index re-opened after a public holiday hiatus yesterday – it closed up by 0.64% this morning after protests in Hong Kong remained peaceful. Hong King Chief Executive CY Leung refused to accede to the protestors demands for him to resign, but has expressed willingness to initiate direct discussions with protest leaders.
Over in Europe Germany’s DAX Index is closed due to a public holiday today; the DAX closed down by 1.99% yesterday, falling after Mario Draghi failed to provide much of an answer concerning further plans by the ECB to aid the ailing Euro zone economy. Initial indications of a significant stimulus package seem to have been shelved, after German financiers roundly condemned any move in that direction.
On the FTSE, Easyjet is up by around 6.5% this morning after announcing a £5 million increase in revenue, as well as a boost in profit forecasts for the first 9 months of 2014. The low-cost airline benefited from the recent industrial action by Air France, which saw much of the French airline’s fleet grounded over the course of a few weeks. Meanwhile, Tesco is the major loser on the FTSE this morning, currently down by around 1.66% after comments made by Warren Buffet yesterday. The octogenarian billionaire investor described his investment in Tesco as ‘a huge mistake’, dealing yet another blow to the already reeling supermarket chain. Buffett still owns 4.1% of the supermarket chain – a stake which has lost around $750 million so far in 2014.
Later today we’ll be seeing Nonfarm Payroll numbers out of the US. August saw the NFP increase by 142,000 jobs, expectations are for 215k growth for September, though in recent months such predictions have proved to be shaky. PMI numbers from Markit and the ISM are also due.
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