Euro Breaks Losing Streak, Burberry Announces Significant Surge in Underlying Sales
April 15, 2015 6:32 am
Asian markets stumbled on Wednesday, with relief at China matching its own growth target soured by poor readings on consumer demand and industrial activity, underlining the need for more policy action by Beijing. The Dow and S&P 500 ended higher on Tuesday, helped by energy stocks and quarterly earnings reports that topped modest expectations following worries about a strong Dollar. The Dow closed 59 points higher at 18,036, the S&P500 gained 3 points to close at 2,095.
The Euro held around $1.0634 after bouncing on Tuesday following a soft report on U.S. retail sales. Against the Yen, the Dollar snuck back up to 119.61 from a an overnight low of 119.07. The Australian Dollar dipped almost a quarter of a U.S. cent to $0.7600 as investors fretted about the health of Chinese demand for the country’s resource exports.
U.S. crude was up 32 cents at $53.61 a barrel, having risen 3.3 percent on Tuesday, while Brent added 56 Cents to $58.99 a barrel.
Within the equity space, Burberry, the luxury goods maker posted a 9% rise in first-half underlying sales on Wednesday, with strong trading in the United States and Europe helping to make up for weakness in major markets such as Hong Kong. The stock is top of the FTSE in early trade up 2.2% at 1821p per share.
Asian markets stumbled on Wednesday, with relief at China matching its own growth target soured by poor readings on consumer demand and industrial activity, underlining the need for more policy action by Beijing. The Dow and S&P 500 ended higher on Tuesday, helped by energy stocks and quarterly earnings reports that topped modest expectations following worries about a strong Dollar. The Dow closed 59 points higher at 18,036, the S&P500 gained 3 points to close at 2,095.
The Euro held around $1.0634 after bouncing on Tuesday following a soft report on U.S. retail sales. Against the Yen, the Dollar snuck back up to 119.61 from a an overnight low of 119.07. The Australian Dollar dipped almost a quarter of a U.S. cent to $0.7600 as investors fretted about the health of Chinese demand for the country’s resource exports.
U.S. crude was up 32 cents at $53.61 a barrel, having risen 3.3 percent on Tuesday, while Brent added 56 Cents to $58.99 a barrel.
Within the equity space, Burberry, the luxury goods maker posted a 9% rise in first-half underlying sales on Wednesday, with strong trading in the United States and Europe helping to make up for weakness in major markets such as Hong Kong. The stock is top of the FTSE in early trade up 2.2% at 1821p per share.
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