Wall Street Rebounds, Hargreaves Lansdown misses expectations.
February 4, 2015 6:56 am
Asian shares took Wall Street’s lead to reach three-month peaks on Wednesday as revived risk sentiment dented the U.S. dollar and sovereign bonds, though it was unclear how long this latest mood swing would last. U.S. stocks jumped more than 1% on Tuesday, led by energy shares as oil prices extended their recent rally, while higher-than-expected January car sales also bolstered the advance. The Dow rose 305 points to close at 17666 and the S&P500 gained 29 points to close at 2050.
The euro’s rally from Tuesday’s low of $1.1312 went as far as $1.1534. It last traded at $1.1470, well off an 11-year trough of $1.1098 set last week. Against the yen, the dollar fared better as U.S. Treasury yields jumped and a rally by Tokyo shares lessened the allure of the safe-haven Japanese currency. The greenback rose 0.3%to 117.95, having recovered from a low of 116.87. Sterling climbed to $1.5198, pulling further away from a near 19-month low of $1.4952 set last month. The British currency had posted its best session in nearly 10 months on Tuesday. The Australian dollar hovered around 78 U.S. cents, staging an impressive turnaround from a slump to a six year trough of $0.7627. The Canadian dollar jumped for a second session to two-week highs of C$1.2353 per U.S. dollar. It last traded at C$1.2428.
Benchmark Brent crude oil was off a slim 15 cents at $57.76, following a rise of almost 6% on Tuesday. U.S. crude was quoted 66 cents lower at $52.39, but that compares with a low last week of $43.58
Within the equity space, half-yearly results from fund manager and savings outfit Hargreaves Lansdown showed a decent performance across the board despite a tough backdrop, with assets under administration rising to record levels and client numbers growing steadily. AuA totalled £49.1bn by 31 December 2014, up 4.7% since the start of the financial year on 30 June 2014, as the company recorded net business inflows for the six-month period of £2.25bn. The stock is however bottom of the FTSE after missing expectations trading 4.%% lower at 998p per share.
Asian shares took Wall Street’s lead to reach three-month peaks on Wednesday as revived risk sentiment dented the U.S. dollar and sovereign bonds, though it was unclear how long this latest mood swing would last. U.S. stocks jumped more than 1% on Tuesday, led by energy shares as oil prices extended their recent rally, while higher-than-expected January car sales also bolstered the advance. The Dow rose 305 points to close at 17666 and the S&P500 gained 29 points to close at 2050.
The euro’s rally from Tuesday’s low of $1.1312 went as far as $1.1534. It last traded at $1.1470, well off an 11-year trough of $1.1098 set last week. Against the yen, the dollar fared better as U.S. Treasury yields jumped and a rally by Tokyo shares lessened the allure of the safe-haven Japanese currency. The greenback rose 0.3%to 117.95, having recovered from a low of 116.87. Sterling climbed to $1.5198, pulling further away from a near 19-month low of $1.4952 set last month. The British currency had posted its best session in nearly 10 months on Tuesday. The Australian dollar hovered around 78 U.S. cents, staging an impressive turnaround from a slump to a six year trough of $0.7627. The Canadian dollar jumped for a second session to two-week highs of C$1.2353 per U.S. dollar. It last traded at C$1.2428.
Benchmark Brent crude oil was off a slim 15 cents at $57.76, following a rise of almost 6% on Tuesday. U.S. crude was quoted 66 cents lower at $52.39, but that compares with a low last week of $43.58
Within the equity space, half-yearly results from fund manager and savings outfit Hargreaves Lansdown showed a decent performance across the board despite a tough backdrop, with assets under administration rising to record levels and client numbers growing steadily. AuA totalled £49.1bn by 31 December 2014, up 4.7% since the start of the financial year on 30 June 2014, as the company recorded net business inflows for the six-month period of £2.25bn. The stock is however bottom of the FTSE after missing expectations trading 4.%% lower at 998p per share.
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