FTSE Up on Strong Average Earnings
May 13, 2015 3:00 pmVideo
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May 13, 2015 – Indices News
U.S markets declined slightly as Treasurys fluctuated. In addition the U.S JOLTS Jobs Openings missed expectations. The data showed that openings came out at 4.994 million, when expected to be 5.085 million. FOMC Member, John Williams, spoke at the Association for Business Economics in New York. He stated that the bank still has plenty of time to decide when to rate hikes but asserted that the move is on the table at all meetings. Williams remained optimistic about the outlook for the economy but wants to be sure that recent weak data was temporary and will not continue. At session close, the S&P 500 was 0.3% lower at 2,099.12 and the Dow Jones was 0.2% lower at 18,068.23.
Asian markets were mixed today. The Nikkei added 0.71% despite the fact that the Dollar declined against the Yen, falling below 120. The index was boosted by strong data. The Adjusted Current Account, in particular, beat expectations and increased to 2.07T, much above the expected 1.34T. Toho Zinc Co added 9.89%, Pacific Metals Co added 7.59% and Shimizu Corp added 6.54%. The Hang Seng declined 0.58% as Chinese data missed expectations. Industrial Production increased by 5.9%, missing the predicted 6%. China Resources Land declined by 6.26%, China Merchants Holdings declined by 2.68% and Tingyi Cayman Islands Holdings Corp declined by 2.57%.
European markets are mixed today. A batch of reports were released from the Eurozone today with most missing expectations. German GDP declined by 0.3% in the last quarter, European GDP increased by just 1% in the last year and EU Industrial Production declined by 0.3% in March. Currently, the CAC 40 is 1% higher and the DAX is 0.37% lower. Deutsche Telekom is 3.4% lower, Deutsche Post is 3.39% and K+S is 2.6% lower. The FTSE 100 is 0.38% higher. Average Earnings in the U.K increased by 1.9% in March and boosted sentiment. Mondi PLC is up 9.78%, Persimmon is up 4.58% and Fresnillo is up 4.41%.
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