Today has been a good day for Asian stocks thanks to better than expected US Durable Goods data and solid US Consumer Confidence data yesterday. Investors are bullish on Asian equities as many feel recovery in America may stimulate demand for Asian goods. Leading exporters was Samsung, with rose 1.8% this morning. Further growth also came from Goodpack Ltd., Singapore based provider of bulk containers, which rose 4.6% after receiving a $1.1 billion buyout offer. Lastly, ALS Ltd., an Australian provider of commercial testing services, rose 8% to its highest point since Jaunary 21st.
European stocks are a little more mixed today as large firms like Hugo Boss dropped. The German Suit maker shed 2% so far, while Elektra, a Swedish manufacturer of radiation surgery equipment, fell 9% as profit missed analysts estimates. Numerous other stocks also underperformed, and one of the only bullish equities today was Telecom Italia, which rose 4.1% as Goldman Sachs said it will benefit from consolidation within the industry. Lastly, GlaxoSmithKline fell 1.8% as it comes under investigation by the British government for bribing officials in China. Due to the company’s size and influence, these accusations have had reverberations throughout the market.
US markets are also mixed – even though exchanges are not open in America yet. In pre-market trading, Disney gained 1.5% while Allergen gained 2.4%. This good performance was counteracted by a 4.7% drop in 3D Systems corp.’s share price. Today, US stocks will be awaiting jobless claims data tomorrow and will move in anticipation. The key asset to watch will be Twitter – a company that has lost 52% of its value this year. However, the stock has recently gained 2.6% after and Nomura Holdings has increased their rating from “neutral” to “buy.” Furthermore, yesterday during the American session the company signed a mobile advertising deal with Omnicon, indicating stronger revenue prospects for the social media giant. Thus, given all the bullish factors affecting Twitter and its recent drop in price, now may be the time to invest as the company may be undervalued.
May 28, 2014 – Stock Market News
Today has been a good day for Asian stocks thanks to better than expected US Durable Goods data and solid US Consumer Confidence data yesterday. Investors are bullish on Asian equities as many feel recovery in America may stimulate demand for Asian goods. Leading exporters was Samsung, with rose 1.8% this morning. Further growth also came from Goodpack Ltd., Singapore based provider of bulk containers, which rose 4.6% after receiving a $1.1 billion buyout offer. Lastly, ALS Ltd., an Australian provider of commercial testing services, rose 8% to its highest point since Jaunary 21st.
European stocks are a little more mixed today as large firms like Hugo Boss dropped. The German Suit maker shed 2% so far, while Elektra, a Swedish manufacturer of radiation surgery equipment, fell 9% as profit missed analysts estimates. Numerous other stocks also underperformed, and one of the only bullish equities today was Telecom Italia, which rose 4.1% as Goldman Sachs said it will benefit from consolidation within the industry. Lastly, GlaxoSmithKline fell 1.8% as it comes under investigation by the British government for bribing officials in China. Due to the company’s size and influence, these accusations have had reverberations throughout the market.
US markets are also mixed – even though exchanges are not open in America yet. In pre-market trading, Disney gained 1.5% while Allergen gained 2.4%. This good performance was counteracted by a 4.7% drop in 3D Systems corp.’s share price. Today, US stocks will be awaiting jobless claims data tomorrow and will move in anticipation. The key asset to watch will be Twitter – a company that has lost 52% of its value this year. However, the stock has recently gained 2.6% after and Nomura Holdings has increased their rating from “neutral” to “buy.” Furthermore, yesterday during the American session the company signed a mobile advertising deal with Omnicon, indicating stronger revenue prospects for the social media giant. Thus, given all the bullish factors affecting Twitter and its recent drop in price, now may be the time to invest as the company may be undervalued.
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