U.S markets declined following mixed data. The ADP Nonfarm Employment Change misses expectations and dropped to 212K, below the predicted 220K. The previous figure, however, was revised upwards to 250,000. The Services PMI beat expectations to 57.1 and the ISM Non-Manufacturing PMI came out at 56.9, above the predicted 56.5. At session close the S&P 500 was 0.4% lower reaching a 2 week low of at 2,098.54 and the Dow Jones was 0.6% lower and 18,096.96.
Asian markets were mixed today. The Nikkei added 0.26% as the Dollar climbed against the Yen, reaching 119.8 by the close of the session. The top three movers in the index were Eisai Co which added 7.15%, Taiyo Yuden Co which added 6.29% and Toray Industries which added 4.84%. The Hang Seng lost 1.06% and the Shanghai Composite lost 0.95% after China cut their growth target for 2015 to 7%sparking fears of an economic slowdown. Premier Li Keqiang said in his government work report that “The economic downward pressure is still intensifying”. He also listed the challenges to the economy including low investment growth and deflation pressures. In reaction to the news, Want Want China Holdings lost 2.96%, China Shenhua Energy Co lost 2.94% and HSBC Holdings lost 2.72%.
European markets are higher today after the ECB gave a date for the beginning of Quantitative easing. The bank will start buying government bonds on March 9 to boost growth and inflation. Draghi commented that inflation is likely to remain very low but should start to pick up in the second half of 2015. He also stated that they expect the economy to grow at a faster rate and that low oil prices should benefit the economy. The conference weakened the Euro and boosted markets. Currently the FTSE 100 is up 0.63%, the DAX is up 1.01% and the CAC 40 is up 1.09%. In the FTSE, Aviva PLC is up 7.42%, Friends Life Group is up 7.19% and Schroders PLC is up 4.12%. In the DAX, E.ON is up 4.89%, Adidas is up 3.74% and Infineon Technologies is up 2.71%.
March 5, 2015 – Indices News
U.S markets declined following mixed data. The ADP Nonfarm Employment Change misses expectations and dropped to 212K, below the predicted 220K. The previous figure, however, was revised upwards to 250,000. The Services PMI beat expectations to 57.1 and the ISM Non-Manufacturing PMI came out at 56.9, above the predicted 56.5. At session close the S&P 500 was 0.4% lower reaching a 2 week low of at 2,098.54 and the Dow Jones was 0.6% lower and 18,096.96.
Asian markets were mixed today. The Nikkei added 0.26% as the Dollar climbed against the Yen, reaching 119.8 by the close of the session. The top three movers in the index were Eisai Co which added 7.15%, Taiyo Yuden Co which added 6.29% and Toray Industries which added 4.84%. The Hang Seng lost 1.06% and the Shanghai Composite lost 0.95% after China cut their growth target for 2015 to 7%sparking fears of an economic slowdown. Premier Li Keqiang said in his government work report that “The economic downward pressure is still intensifying”. He also listed the challenges to the economy including low investment growth and deflation pressures. In reaction to the news, Want Want China Holdings lost 2.96%, China Shenhua Energy Co lost 2.94% and HSBC Holdings lost 2.72%.
European markets are higher today after the ECB gave a date for the beginning of Quantitative easing. The bank will start buying government bonds on March 9 to boost growth and inflation. Draghi commented that inflation is likely to remain very low but should start to pick up in the second half of 2015. He also stated that they expect the economy to grow at a faster rate and that low oil prices should benefit the economy. The conference weakened the Euro and boosted markets. Currently the FTSE 100 is up 0.63%, the DAX is up 1.01% and the CAC 40 is up 1.09%. In the FTSE, Aviva PLC is up 7.42%, Friends Life Group is up 7.19% and Schroders PLC is up 4.12%. In the DAX, E.ON is up 4.89%, Adidas is up 3.74% and Infineon Technologies is up 2.71%.
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