Stocks in Europe were seen trading a little mixed on Thursday as investors awaits data on the US jobless claims and US gross domestic product (GDP) report for the first quarter due later in the day.
The European Euro Stoxx 50 rose 0.18% higher, opening the session at 3,246.50, while the German DAX gained 0.08% to 9,947.80 at the time of writing. At the same time in France, the benchmark CAC 40 slid 0.2% lower, to start at 4,529.30, while the UK’s FTSE 100 added 0.10% to 6,858.30.
Economic reports
Spain’s gross domestic product (GDP) report showed that the eurozone’s fourth largest economy grew by 0.4% in the first quarter, meeting in line with estimates and compared to the 0.2% rise seen in the final quarter last year, according to reports from Spain’s statistical office.
The report also showed that Spain’s GDP expanded 0.5% in the recent quarter on a year-on-year basis after the 0.2% drop seen in the previous year.
A separate report released on Wednesday showed that money supply from the Eurozone dropped to 1% on a yearly basis, while lending to the private sector contracted by 1.8% on an annual basis.
US Economy
As inventors awaits a report on the US GDP reading for the first quarter, analyst are expecting to see a 0.5% contraction in the first quarter on an annual rate, after a preliminary estimate of a 0.1% growth.
A separate data on the US jobless claims is expected to show that the initial jobless claims in the US dropped to 318,000 in the week ending May 24, compared to 326,000 recorded in the previous week, according to analysts. Meanwhile, pending home sales in the world’s biggest economy is expected to have risen by 1% in April, after the 3.4% rise seen in the previous month.
ECB Comments
Investors continue to focus on any comments made by European Central Bank (ECB) officials as the central bank’s next meeting approaches.
“The data points to the need for the ECB to respond at next week’s policy meeting, especially with the German economy showing signs of slowing,” Neil MacKinnon from VTB Capital commented.
Stocks – Asia
Stocks in the Asian region were seen trading higher on Thursday.
Japan
Japan’s benchmark Nikkei 225 index gained 0.07%, closing at 14,681.72 points, while Tokyo’s Topix index advanced 0.13% higher to 1,196.62 points.
The nation’s retail sales dropped lower than expected in April, as sales dropped 4.4% year-on-year, following the 11% surge in March before sales tax was raised.
Meanwhile the Bank of Japan (BoJ) board member Sayuri Shirai said the bank’s 2% inflation target would take more than two years to years to achieve while the bank’s monetary stimulus will continue beyond fiscal 2015.
“Under the BoJ’s so-called flexible inflation targeting framework, I maintain the view that it will likely take longer than ‘two years’ to achieve 2% inflation in a way that doesn’t impose excessive burdens on firms and households,” Shirai said.
Japanese marine product company Nippon Suisan advanced 10.88%, while Credit Saison lost 2.75%.
China
Hong Kong’s Hang Seng index edged 0.09% higher, trading at 23,101.05 points at the time of writing, while the mainland Chinese benchmark Shanghai Composite rose 0.05% to 2,051.31 points.
China Life insurance and Belle international saw the most gains during the session in China, gaining 2.39% and 2.31% respectively, while China Merchants Holdings lost 1.68%.
Australia
In Sydney, the benchmark S&P/ASX index fell 0.16% lower, closing at 5,518.30 points. Transport Company Toll Holdings climbed 4.36%; however mining companies saw losses with BHP Billiton falling 1.3% lower to A$37.49 while Rio Tinto Group slid 2.2% to A$60.07.
New home sales in Australia climbed for the fourth month in a row in April, advancing 2.9% month-on-month, official data showed. While Australia’s private capital expenditure dropped lower than expected to 4.2% quarter-on-quarter in the first quarter.
Visitwww.hymarkets.com to find out more about our products and start trading today with only $50 using the latest trading technology today.
Stocks – Europe
Stocks in Europe were seen trading a little mixed on Thursday as investors awaits data on the US jobless claims and US gross domestic product (GDP) report for the first quarter due later in the day.
The European Euro Stoxx 50 rose 0.18% higher, opening the session at 3,246.50, while the German DAX gained 0.08% to 9,947.80 at the time of writing. At the same time in France, the benchmark CAC 40 slid 0.2% lower, to start at 4,529.30, while the UK’s FTSE 100 added 0.10% to 6,858.30.
Economic reports
Spain’s gross domestic product (GDP) report showed that the eurozone’s fourth largest economy grew by 0.4% in the first quarter, meeting in line with estimates and compared to the 0.2% rise seen in the final quarter last year, according to reports from Spain’s statistical office.
The report also showed that Spain’s GDP expanded 0.5% in the recent quarter on a year-on-year basis after the 0.2% drop seen in the previous year.
A separate report released on Wednesday showed that money supply from the Eurozone dropped to 1% on a yearly basis, while lending to the private sector contracted by 1.8% on an annual basis.
US Economy
As inventors awaits a report on the US GDP reading for the first quarter, analyst are expecting to see a 0.5% contraction in the first quarter on an annual rate, after a preliminary estimate of a 0.1% growth.
A separate data on the US jobless claims is expected to show that the initial jobless claims in the US dropped to 318,000 in the week ending May 24, compared to 326,000 recorded in the previous week, according to analysts. Meanwhile, pending home sales in the world’s biggest economy is expected to have risen by 1% in April, after the 3.4% rise seen in the previous month.
ECB Comments
Investors continue to focus on any comments made by European Central Bank (ECB) officials as the central bank’s next meeting approaches.
“The data points to the need for the ECB to respond at next week’s policy meeting, especially with the German economy showing signs of slowing,” Neil MacKinnon from VTB Capital commented.
Stocks – Asia
Stocks in the Asian region were seen trading higher on Thursday.
Japan
Japan’s benchmark Nikkei 225 index gained 0.07%, closing at 14,681.72 points, while Tokyo’s Topix index advanced 0.13% higher to 1,196.62 points.
The nation’s retail sales dropped lower than expected in April, as sales dropped 4.4% year-on-year, following the 11% surge in March before sales tax was raised.
Meanwhile the Bank of Japan (BoJ) board member Sayuri Shirai said the bank’s 2% inflation target would take more than two years to years to achieve while the bank’s monetary stimulus will continue beyond fiscal 2015.
“Under the BoJ’s so-called flexible inflation targeting framework, I maintain the view that it will likely take longer than ‘two years’ to achieve 2% inflation in a way that doesn’t impose excessive burdens on firms and households,” Shirai said.
Japanese marine product company Nippon Suisan advanced 10.88%, while Credit Saison lost 2.75%.
China
Hong Kong’s Hang Seng index edged 0.09% higher, trading at 23,101.05 points at the time of writing, while the mainland Chinese benchmark Shanghai Composite rose 0.05% to 2,051.31 points.
China Life insurance and Belle international saw the most gains during the session in China, gaining 2.39% and 2.31% respectively, while China Merchants Holdings lost 1.68%.
Australia
In Sydney, the benchmark S&P/ASX index fell 0.16% lower, closing at 5,518.30 points. Transport Company Toll Holdings climbed 4.36%; however mining companies saw losses with BHP Billiton falling 1.3% lower to A$37.49 while Rio Tinto Group slid 2.2% to A$60.07.
New home sales in Australia climbed for the fourth month in a row in April, advancing 2.9% month-on-month, official data showed. While Australia’s private capital expenditure dropped lower than expected to 4.2% quarter-on-quarter in the first quarter.
Visit www.hymarkets.com to find out more about our products and start trading today with only $50 using the latest trading technology today.
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