TOKYO (Reuters) - Asian shares rose on Wednesday, following gains in European and U.S. markets where bargain hunters bought beaten down stocks, but markets remained vulnerable to the euro zone's debt woes as Spanish yields hit record highs on worries over banks.
Asian shares rose on Wednesday, following gains in European and U.S. markets where bargain hunters bought beaten down stocks, but markets remained vulnerable to the euro zone's debt woes as Spanish yields ...
LONDON, June 9 (Reuters) - World shares were within touching distance of an all-time high on Monday, spurred on by the potent combination of record low global interest rates and the improving health of major economies.
July 4th may be a US national holiday, which means the S&P 500 won't hit a record high on good news and a recorder high on bad, but judging by global trading volumes - already abysmal heading into today - one may as well give the entire world a day off. However, for now, global equities have come off the impressive, and curiously schizophrenic US-data inspired gains of yesterday which sent the DJIA over 17,000 yet which has resulted in an almost unchanged 10Y Treasury print since before the NFP release. Once again bonds and stocks agree to disagree.
LONDON: World shares weathered soft readings on Chinese and Japanese manufacturing which served to recharge expectations of more policy stimulus there, though lacklustre euro zone data soured the mood on Thursday. European stock markets initially opened higher, spurred by multi-year highs in Asia, but sluggish euro zone and German purchasing manager data and conflicting numbers from France sent indexes into the red. Stock index futures suggested U.S. markets would maintain the negative trend.
Today's market action is largely a continuation of the QE relief rally, where - at least for the time being - the market bought the rumor for over 2 years and is desperate to show it can aslo buy the news. As a result, the European multiple-expansion based stock ramp has resumed with the Eurostoxx advancing for a 7th day to extend their highest level since Dec. 2007.
LONDON: European shares slipped on Thursday, with Germany's DAX index underperforming following a disappointing purchasing managers' survey while weak results from Ericsson hit technology stocks. Another survey showing factory activity in China, the world's largest metals consumer, contracted at its fastest pace in a year in April, hit mining stocks. The STOXX Europe 600 Basic resources index fell 1.2 percent.
LONDON: World stocks marched higher on Thursday, lifted by Greece's confirming it will pay a 450 million-euro loan tranche to the International Monetary Fund and growing expectations the US will not raise interest rates until the latter part of the year. European markets also welcomed German industrial output and trade data, which showed the continent's largest economy ticking along nicely in February. The Greek news and US interest rate outlook soothed global bond market sentiment, too. The benchmark euro zone bond yield on 10-Germany's 10-year Bund fell to a record low of 0.146 per cent.