30th April - Economic and Global Market Review
Global Market Data as of 30th April 2014
FTSE 100 6,779.37 (+0.14%) Dax 9,581.74 (-0.02%)
CAC 40 4,483.05 (-0.33%) BEL 20 3,098.12 (-0.25%)
Madrid IBEX 10,446.00 (-0.14%) Zurich SMI 8,478.54 (+0.52%)
Moscow MCIEX 1,280.81 (+0.35%) Sydney ASX 5,470.80 (+0.07%)
Nikkei 225 14,304.11 (+0.11%) Hang Seng 22,133.97 (-1.42%)
Shang SSE Comp 2,026.36 (+0.30%)
Dow Jones 16,535.37(+
S&P 500 1,878.33 (+0.48%)
As the last day of the month and the first quarter of 2014 drawing to an end Asian markets remained flat with just the Hang Seng seeing a drop after reports from the Chinese Central bank regarding its recent stress tests were met with skepticism. Of the 17 banks tested that represent 61% of all assets the PBOC said that they would resist a severe drop in GDP, Growth and the Yen. As we see Europe just about to do the same before the ECB take charge the details out of the PBOC were seen as a precursor to the ECB suggesting the same. The Hang Seng closed 1.42% down on the news with no economic indicators due for the rest of the week. Japanese sales tax was up 11%, its highest increase since 1997, mainly off the back of consumer purchases made before the sales tax hike implemented last month. This helped the Nikkei hold steady and should see the Japan index start to show some good gains over the next few weeks.
European markets opened lower but managed to start the day in the right direction. Major concerns regarding the Ukraine, Moscow and Washington are surfacing as Europe adds to its list of people and businesses that will be hit with sanctions due to the Crimea crisis. With violence increasing and very little in the way of a resolution in the foreseeable future many analysts are wary of how this situation will continue. The IMF has commented that Russia is in the midst of a recession however that appears to be a knee jerk reaction to the current climate in Moscow. Until Putin and Obama actually agree on a way forward for all involved the crisis will no doubt drag out and ultimately start to hinder the EU's growth.
The US markets are expected to open slightly higher as they round off April on a high note. With all three major indexes posting good gains yesterday the momentum should continue as the week draws to a close. There are a slew of economic indicators due by the end of the week, today see's GDP figures and the Chicago PMI, Thursday not only can we expect Jobless Claims, OMI Manufacturing and the FED Balance, but Ms. Yellen is due to speak too and all ears will be listening to see whether there are any more details on the slowdown of QE which has long been promised. Factory Orders round off the week and the general sentiment is that the markets should finish strong this week.
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