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Market and Economic Update - Week Ending 13th June 2014
Hexagon Capital Management is a privately held wealth management company that manages hundreds of client assets in a wide range of products and services.
The majority of Asian indexes managed gains today despite weaker than expected data out of the United States. The Nikkei managed to reverse early trading losses by the afternoon session to close out 0.83% higher. The Bank of Japan has been in a 2 day conference discussing the economy yet no new policy changes were made. This see's the exchange close the week out close to its 3 year highs seen earlier in the week. Chinese indexes were relatively flat as they await the announcement of Industrial data and Retail Sales. Concerns over growth rates in China have been abound lately yet the data coming out of China continues to imply they are performing well. Yesterday saw an announcement of additional stimulus, targeted at bringing the inland provinces closer to Shanghai. Infrastructure is the way forward for China and they have pledged to improve road, and rail networks for the region.
Nikkei 225 at 15097.84 (+0.83%) Hang Seng at 23,344.83 (+0.73%)
SSE Comp at 2,070.71 (+0.93%)
The Eurozone continued to show signs of expansion as data released yesterday showed Industrial Production substantially increased in May. With 0.2% expansion seen in April, 1.4% for May was a seen as a very positive step forward in real terms. Month on month May had increased 0.8%, considerably better than April's -0.4%. Northern Europe countries appear to be driving the EU forward so far in 2014 with improved economic data coming from Germany, the UK and France and Italy almost month on month. What needs to be seen is whether the remaining EU member can start to creep up to their better performing counterparts. Later today the Balance of Trade is released. This too is forecast to be significantly lower than April. Expected to be in the region of €10.9bn for May, it is forecast to be over €6bn lower than April's surprising result of €17.1Bn. One of the main concerns for Europe is the situation in the Ukraine which does not seem to be near resolution. With the added potential of war in Iraq, major concerns will be about fuel supplies in Europe for the next few months and this could have an effect on the markets as investors look to limit their exposure to risk.
FTSE 100 at 6,843.11 (+0.06%) Dax at 9,938.70 (-0.11%)
CAC 40 at 4,554.40 (-0.02%) BEL 20 at 3,167.93 (+0.23%)
IBEX at 11,088.50 (+0.12%) Zurich SMI at 8,670.98 (-0.47%)
It was the second day in a row for the US markets to relax their record breaking runs. The S&P and Dow both closed down over half a percent on their opens, however they are still in positive territory for the month. Poorer than expected Retail Sales and Jobless data did little to deter investors as they looked to avoid oil related stocks. With Obama commenting that no action is off the table, the thought of more intervention in Iraq will no doubt concern investors globally considering Syria and the Ukraine are still countries in turmoil. Retail Sales increased by just 0.3% in May, almost half the analyst estimate and jobless claims broke 300,000. Both these indicators came as a surprise to the markets yet in reality, did little to the indexes as a whole. There is still a sense that the economy in the US is expanding as opposed to recovering and if they can keep the momentum going no doubt they will continue to see the gains they have of late.
Dow Jones Closed at 16,734.19 (-0.65%)
NASDAQ Closed at 4,297.63 (-0.79%)
S&P 500 Closed at 1,930.11 (-0.70%)
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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.
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