Trading news

Global equities inch higher






Nasdaq records a fresh record high

US stocks edged higher on Wednesday but the Dow Jones industrial average slipped weighed by financial stocks. The dollar ended lower: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, closed down 0.22% at 100.177. The S&P 500 gained 0.1% settling at 2294.67 led by utilities and real estate shares while financial stocks were the worst performers, down 0.8%. The Dow Jones industrial lost 0.2% to close at 20054.34 led by JP Morgan, Goldman Sachs and Visa. The Nasdaq index closed at a fresh record high at 5682.45, up 0.2%.



Energy and bank shares limit gains in European stocks

European stocks advanced on Wednesday but gains were limited by declines in energy shares. Both the euro and the British Pound strengthened against the dollar. The Stoxx Europe 600 climbed 0.3%. Germany’s DAX 30 underperformed slipping 0.1% to 11543.38. France’s CAC 40 gained 0.3% and UK’s FTSE 100 index edged up nearly 3 points to 7188.82.



Asian markets mixed

Asian stock indexes are mixed today with Japanese stocks down while Chinese stocks are rising on higher commodity prices. Nikkei fell 0.5% to 18907.67 today on stronger yen in thin trading ahead of Prime Minister Shinzo Abe’s meeting with Trump in Washington, D.C. on Friday. The Shanghai Composite Index is up 0.5% and Hong Kong’s Hang Seng Index is 0.3% higher. Australia’s All Ordinaries Index is up 0.25% with the Australian dollar edging lower against the dollar. The New Zealand dollar is extending losses after weakening by over 0.7% against the dollar following the Reserve Bank of New Zealand decision to keep the interest rate at 1.75% as widely expected while it said also “monetary policy will remain accommodative for a considerable period.”



Oil prices rise on surprise US gasoline stock draw

Oil future prices are gaining today after official data showed US gasoline stockpiles fell by 869 thousand barrels last week to 256.2 million barrels instead of an expected increase. However US crude inventories jumped by 18.8 million barrels to 508.6 million barrels, pointing to continued oversupply in global oil market. The continued oversupply together with rising US crude production indicates the scope of further price increases is limited. April Brent crude closed 0.1% higher at $55.12 a barrel on Wednesday on London’s ICE Futures exchange after EIA reported a gasoline supplies draw.

IFC Markets Review

Thursday, 09 Feb, 2017 / 10:09

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : http://www.ifcmarkets.com/en/market-overview/global-equities-inch-higher?utm_source=financemagnates

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