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Follow on Google News | Tradeline Financials - Global Market & Economic Update - Week 44, 2014Tradeline Financials is an independent, diversified financial services firm catering to all types of investors.
By: Tradeline Financials PR Tradeline Financials - Global Market & Economic Update - Week 44, 2014 Last week saw a strong close to the markets as good earnings out of the US and a positive 3rd quarter for the UK helped the markets to recover some ground. Markets in Asia we're relatively positive apart form the Hong Kong Exchanges which dropped almost 5% on the news that their connection with Shanghai was to be delayed indefinitely. The collaboration has been in the making for years and as financial institutions have worked to get everything ready for the connection, many have been dismayed by the delay. The Nikkei gained off the back of a strong close in the US, posting gains of over 0.6% throughout trading. Europe is expected to open higher as reports that the ECB and EBA recent bank stress tests showed that the majority of European banks are in better standing than previously thought. Of the 123 banks tested by the European Banking Authority, just 24 failed. These banks now have 9mths to improve their balance sheet or face the risk of closure. The worst bank identified was the oldest. Italian bank Monti dei Paschi, opened in the 15th Century needs to raise over €2.1bn to cover its balance sheet. Of the 130 banks tested by the European Central Bank earlier in the year, 25 failed, however they ECB stated that 12 of those named have now fixed the problem and are in satisfactory status. US housing data and earnings helped the major indexes claw back some of their recent loses. Housing data pointed to the strongest growth in nearly 6yrs and earnings from Microsoft and Proctor and Gamble pushed the S&P500 up almost 0.75%. The positive earnings season is expected to continue as the heavyweights of the corporate world show that the global slowdown is not affecting US company profitability. Major Global Indices as of 27th October 2014: S&P 500 - 1,964.58 +0.71% Dow Jones - 16,805.41 +0.76% NASDAQ - 4,483.72 +0.69% FTSE 100 - 6,388.73 -0.47% Dax - 8,987.80 -0.66% CAC - 4,128.90 -0.69% Hang Seng - 23,113.97 -0.81% SSE Comp - 2,285.35 -0.74% Nikkei - 15,388.72 +0.63% For more information on the services provided by Tradeline Financials advisors please visit our website at www.tradeline- 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 Tradeline Financials. All market data within this release is for your general information and enjoys indicative status only. Tradeline Financials 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. End
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