Asian markets have declined today after reaching a six year high earlier this week. For many investors, poor performance in a key export market (United States) was the key motivating factor in avoiding equities in the far east. Further hurting Asian indices was a strong yen, which reduced the value of export income earning by many large Japanese exporters. Thus, it is not surprising that the Nikkei closed down 0.64%, the Hang Seng fell 0.35%, and the ASX 200 dropped 0.46%.
European markets were mostly unchanged today as investors weighed the results of different sets of data. For starters, Eurozone industrial production improved. However, poor US retail sales data counteracting any bullish sentiment stemming from this. Furthermore, investors also juggled better than expected corporate news from companies like Iliad and Bouygues with fears of increased conflict in Iraq. All in all, the Stoxx 50 closed down 0.15%, the FTSE closed up 0.06%, and the DAX closed down 0.11%.
American markets were not able to escape the day unscathed, with poor retail sales and unemployment data pushing equities downward. Furthermore, tension in Iraq after Al-Qaeda inspired groups conquered Mosul pushed oil prices higher and caused investors to flee from riskier assets. Though energy companies advanced, this was the only sector that performed well today and judging by the fundamental data at play this week, American indices may end the week on a bearish note. So far, the Dow is down 0.62%, the S&P is down 0.91%, and the Nasdaq is down 1.06%.
June 12, 2014 – Indices News
Asian markets have declined today after reaching a six year high earlier this week. For many investors, poor performance in a key export market (United States) was the key motivating factor in avoiding equities in the far east. Further hurting Asian indices was a strong yen, which reduced the value of export income earning by many large Japanese exporters. Thus, it is not surprising that the Nikkei closed down 0.64%, the Hang Seng fell 0.35%, and the ASX 200 dropped 0.46%.
European markets were mostly unchanged today as investors weighed the results of different sets of data. For starters, Eurozone industrial production improved. However, poor US retail sales data counteracting any bullish sentiment stemming from this. Furthermore, investors also juggled better than expected corporate news from companies like Iliad and Bouygues with fears of increased conflict in Iraq. All in all, the Stoxx 50 closed down 0.15%, the FTSE closed up 0.06%, and the DAX closed down 0.11%.
American markets were not able to escape the day unscathed, with poor retail sales and unemployment data pushing equities downward. Furthermore, tension in Iraq after Al-Qaeda inspired groups conquered Mosul pushed oil prices higher and caused investors to flee from riskier assets. Though energy companies advanced, this was the only sector that performed well today and judging by the fundamental data at play this week, American indices may end the week on a bearish note. So far, the Dow is down 0.62%, the S&P is down 0.91%, and the Nasdaq is down 1.06%.
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