| Author | Message | ||
     Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3758 Registered: 05-2011 Rating: N/A |
World markets attempting to bounce back 1. The global equity markets are mixed but the US and Europe are witnessing hefty bounces. S&P Futures are up about 39 points to trade around the 4636 area. Spoos caught a quick bid right out of the gate with the first print of the open representing the low at 4588.75. The market has been steady throughout the session trading near the upper end of the range that saw a high of 4642.75. 2. In Asia, China closed flat while Japan lost 1.6%. The Shanghai was off to a rough start, trading down about 1% on the open. After that, the market managed to claw its way back to the neutral zone. In Japan, most stocks closed in the red. Automotive names felt a pinch with Mitsubishi Motors, Mazda and Nissan falling over 4%. Shipping stocks bucked the overall tone with names such as Nippon Yusen K.K. and Mitusi O.S.K. Lines gaining 2-3%. 3. In Europe, the major bourses are trying to rebound. In fact, most sectors are trading in the green. Retail stocks are seeing the most strength with names such as Puma, Adidas, Hermes and Kering up 3-4%. Banks are also outpacing the broader market with lenders such as Societe Generale and Credit Agricole up over 2%. |