''Market highlights
Global markets consolidated last week after enjoying
solid gains in January. The MSCI World $ Index
declined 0.45%, leaving it up 4.98% for the year-todate.
The S&P 500 was up 0.31%, the Dow Jones Industrial
Average (DJIA) down 0.12% and the Nasdaq was up
0.93%. In European markets, the French CAC 40 was
down 3.29% and the Frankfurt DAX was down 2.31%.
In Asian markets, the Nikkei 225 was down 0.34% and
the Shanghai Composite Index up 0.58%.
The FTSE/JSE All Share Index gained of 0.72%.
Resources, financials and industrials gained 0.82%,
0.22% and 0.86%, respectively.
Chinese exports jumped 25% year-on-year and imports
28.80% in January giving the country a trade surplus of
$29.2 billion. Consumer prices eased from 2.5% in
January to 2% in December. The data suggested that
the authorities have the scope to retain accommodative
policy even as the economy accelerates.
Spanish and Italian bond yields climbed higher
triggered by a slush fund scandal potentially implicating
Spanish prime minister, Marian Rajoy, and worries over
the forthcoming Italian election. Rajoy faced calls for his
resignation following allegations of secret payments to
members of his party. In Italy, opinion polls showed''
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