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Global Market Update - Week Ending 11th July

Hexagon Capital Management is a privately held wealth management company that manages hundreds of client assets in a wide range of products and services.

July 11, 2014 - PRLog -- Hexagon Capital Management is a privately held wealth management company that manages hundreds of client assets in a wide range of products and services with a non biased, client orientated program that is tailored to each individual or corporate requirement.

Global indexes were pushed into negative territory yesterday as news out of Europe stemmed the flow of capital into the markets.

In Asia, markets opened lower yet managed to reverse some of the losses seen in early morning trading to close out the day only slightly down. With next week being a big week for Chinese economic indicators it is fair to say there could have been some profit taking today and that the initial concerns out of Portugal may not have far reaching effects. Next week we receive data on China's GDP Growth rate and industrial production and retail sales which will be a good indicator as to whether the local economy has moved forward since its stimulus programs have started to take effect.

Nikkei 225  at 15,164.04 (-0.34%)          Hang Seng at 23,172.75 (-0.29%)

SSE Comp at 2,044.51 (+0.30%)

It was a hectic day in Europe as economic data came in under expectation and news out of Portugal saw one of its major lenders being suspended on the local markets. For the past few months data out of Europe has pointed to a recovery in process. Yesterday however saw that slow down quite considerably. Firstly news out of Germany that both its Exports and Imports fell in May saw the local exchange close over 1.5% down. With imports dropping at their fastest pace since 2012, down 3.3% on April and Exports being down 1.1%, this is the first time this year Germany has posted such disappointing figures. France and Italy were also negative after factory output for both countries was seen down on the previous month. France's factory output fell 2.3% which saw the CAC40 slip 1.34% and in Italy factory output had dropped 1.2% on April's data. One of Portugal's main lenders, Banco Espirito Santo had to be suspended yesterday after it fell over 17% on news that its parent company's accounting practices may not be fully up to scratch. Despite easing concerns that the local bank's cash reserves were not in jeopardy this still caused huge concern for European investors as Portugal has only just exited the bailout scheme supplied by the EU and IMF.

FTSE 100  at 6,672.37 (-0.68%)          Dax at 9,659.13 (-1.52%)

CAC 40 at 4,301.26 (-1.34%)          BEL 20 at 3,097.19 (-2.01%)

IBEX at 11,533.60 (-1.98%)          Zurich SMI at 8,474.23 (-0.77%)

The news out of Europe slowed the local markets in the US as initial trading saw the indexes drop significantly by midday. By the afternoon the markets had relaxed yet there was still some profit taking seen as we enter into earnings season and the strength of the markets doesn't seem to be faltering. With the Dow and S&P 500 still close to record highs there is an air of optimism in the US as they look to come out of their own QE program by October this year. Although the Fed has held rates and policy the same since Ms. Yellen took her post, finally they have stated that their asset buying program is to have run its course by the end of the year. Whilst they have been reducing steadily the amount of bonds it has been buying concerns over whether rates would increase sooner than the predicted mid 2015 should have been placated as in their latest minutes the Fed still stuck to a late 2015 rate increase.

Dow Jones Closed at 16,915.07 (-0.42%)

NASDAQ Closed at 4,396.20 (-0.52%)

S&P 500 Closed at 1,964.68 (-0.41%)

For more information on the products and services provided by Hexagon Capital Management, please visit our website - www.hexagoncapitalmanagement.com or contact us directly on info@hexagoncapitalmanagement.com.

DISCLAIMER  The views, opinions, findings, and conclusions or recommendations expressed on this service are those of the author(s) and do not necessarily reflect the views of the Hexagon Capital Management. All market data within this release is for your general information and enjoys indicative status only. Hexagon Capital Management does not accept any responsibility for its accuracy or for any use to which it may be put. All share prices and market indexes delayed at least 15 minutes. 52 week high and low values are calculated from close price data.

Hexagon Capital Management

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