U.S markets rallied despite another batch of weaker than expected data; Factory Orders declined by 3.4% during the past month, which was a greater decline than the expected 1.8%. Markets were boosted by rising oil prices and optimism regarding Greek debt negotiations. Investors became risk – on and returned to riskier assets. At session close the S&P 500 was 1.44% higher at 2,043.82 and the Dow Jones was 0.03% higher at 17,671.57.
Asian markets were mostly higher today. The Nikkei rallied 1.98% as the Dollar moved higher against the Yen as demand for safe haven assets faded on the back of Greek debt negotiations. The USD/JPY reached a high of 118 during the Asian session. Shares also gained after strong earnings were released; Oki Electric Industry added 7.36%, Dai-ichi Life Insurance added 6.82%, Sumitomo Heavy Industries added 6.62% and Nichirei Corp added 6.32%. The Hang Seng climbed 0.51% as traders tracked the direction of U.S markets and climbing oil prices boosted optimism. The Hang Seng Bank added 5.21%, Lenovo Group Ltd added 4.95%, CNOOC added 4.32% and China Mobile added 2.52%.
European markets are lower today as investors remain focused on Greece’s debt negotiations. Traders mostly shrugged off a batch of positive data including the European Services PMI and Retail Sales. The Markit Composite also beat expectations at a 6 month high of 52.6. Oil prices also started to fall back down and caused energy shares to fall once again. In late trade, the FTSE 100 is down 0.84%, the DAX is down 0.32%, and the CAC 40 is down 0.02%. The FTSE 100 is being led lower by Hargreaves Lansdown which is down 7.66%, Tullow Oil which is down 6.18%, WM Morrison Supermarkets which is down 2.58% and Aggreko PLC which is down 2.58%. The DAX is being led lower by RWE AG which has lost 2.19% and E.ON SE which has lost 1.79%.
February 4, 2015 – Indices News
U.S markets rallied despite another batch of weaker than expected data; Factory Orders declined by 3.4% during the past month, which was a greater decline than the expected 1.8%. Markets were boosted by rising oil prices and optimism regarding Greek debt negotiations. Investors became risk – on and returned to riskier assets. At session close the S&P 500 was 1.44% higher at 2,043.82 and the Dow Jones was 0.03% higher at 17,671.57.
Asian markets were mostly higher today. The Nikkei rallied 1.98% as the Dollar moved higher against the Yen as demand for safe haven assets faded on the back of Greek debt negotiations. The USD/JPY reached a high of 118 during the Asian session. Shares also gained after strong earnings were released; Oki Electric Industry added 7.36%, Dai-ichi Life Insurance added 6.82%, Sumitomo Heavy Industries added 6.62% and Nichirei Corp added 6.32%. The Hang Seng climbed 0.51% as traders tracked the direction of U.S markets and climbing oil prices boosted optimism. The Hang Seng Bank added 5.21%, Lenovo Group Ltd added 4.95%, CNOOC added 4.32% and China Mobile added 2.52%.
European markets are lower today as investors remain focused on Greece’s debt negotiations. Traders mostly shrugged off a batch of positive data including the European Services PMI and Retail Sales. The Markit Composite also beat expectations at a 6 month high of 52.6. Oil prices also started to fall back down and caused energy shares to fall once again. In late trade, the FTSE 100 is down 0.84%, the DAX is down 0.32%, and the CAC 40 is down 0.02%. The FTSE 100 is being led lower by Hargreaves Lansdown which is down 7.66%, Tullow Oil which is down 6.18%, WM Morrison Supermarkets which is down 2.58% and Aggreko PLC which is down 2.58%. The DAX is being led lower by RWE AG which has lost 2.19% and E.ON SE which has lost 1.79%.
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