New Closing Records for Multiple Indices, USD Bounces Back
November 11, 2014 7:56 am
World equity markets hit their highest level in more than a month on Monday, lifted by a deal to give global investors easier access to China’s $3.9 trillion stock market as well as by further gains in U.S. equities. Wall Street closed higher, with the S&P 500 rising 0.3 percent to 2,038.26, a new closing record, while the Dow industrial gained 0.2 percent to reach a new closing high of 17,613.74. The Nikkei share average rose 2.1 percent to 17,124.11 points, its highest close since October 2007.
The Dollar was back near 115.00 Yen and not far off Friday’s seven-year peak of 115.60, after recovering from a dip to 113.86, The Greenback also climbed against the Euro, which eased to $1.2421 from above $1.2500. Monday’s bounce in the Dollar caused commodity currencies to beat a hasty retreat; the Australian Dollar eased to $0.8622 from $0.8684, while its New Zealand peer dipped to $0.7750 from $0.7823.
Oil prices initially rose on renewed political tensions in the Middle East and Ukraine, but subsequently gave up those gains, with Brent crude off 1.5 percent at $82.70, and U.S. light crude off 1.7 percent at $77.63.
Within the equity space Vodafone, the world’s second-biggest mobile operator nudged its forecasts for core earnings higher after reporting a sharp improvement in its main quarterly revenue measurement as demand for mobile services improved in its big European markets. The stock is currently up 4% trading at 218p. Sainsbury’s appeal against arch rival Tesco PLC’s “Price Promise” advertising campaign has been dismissed by Britain’s High Court, with Sainsbury’s stock is currently up 1.2% trading at 258p.
Data today sees US Red Book Retail Sales with the figure forecast at 0.2%.
World equity markets hit their highest level in more than a month on Monday, lifted by a deal to give global investors easier access to China’s $3.9 trillion stock market as well as by further gains in U.S. equities. Wall Street closed higher, with the S&P 500 rising 0.3 percent to 2,038.26, a new closing record, while the Dow industrial gained 0.2 percent to reach a new closing high of 17,613.74. The Nikkei share average rose 2.1 percent to 17,124.11 points, its highest close since October 2007.
The Dollar was back near 115.00 Yen and not far off Friday’s seven-year peak of 115.60, after recovering from a dip to 113.86, The Greenback also climbed against the Euro, which eased to $1.2421 from above $1.2500. Monday’s bounce in the Dollar caused commodity currencies to beat a hasty retreat; the Australian Dollar eased to $0.8622 from $0.8684, while its New Zealand peer dipped to $0.7750 from $0.7823.
Oil prices initially rose on renewed political tensions in the Middle East and Ukraine, but subsequently gave up those gains, with Brent crude off 1.5 percent at $82.70, and U.S. light crude off 1.7 percent at $77.63.
Within the equity space Vodafone, the world’s second-biggest mobile operator nudged its forecasts for core earnings higher after reporting a sharp improvement in its main quarterly revenue measurement as demand for mobile services improved in its big European markets. The stock is currently up 4% trading at 218p. Sainsbury’s appeal against arch rival Tesco PLC’s “Price Promise” advertising campaign has been dismissed by Britain’s High Court, with Sainsbury’s stock is currently up 1.2% trading at 258p.
Data today sees US Red Book Retail Sales with the figure forecast at 0.2%.
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