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Global Market Update - 5th November Review 2014

Asian markets were cautious today and European markets are expected to follow suit with some profit taking seen after the bumper few days seen in Asia and the US.

Chinese markets were down as news that the services sector had grown slower than expected. This comes just after reports that manufacturing had taken a step back along with factory orders. This could see the Chinese Central Bank look to increase its stimulus efforts as it looks to keep its growth near 7%. The world's second largest economy has been posting some interesting figures lately and many have seemed to contradict each other. What will be a guide to the economy is whether the government does indeed inject more cash into the system, if this happens in the near future it would be fair to say that the Chinese economy may be performing worse than many forecast.

Most investors in Europe will be looking to see what is said after tomorrows monthly ECB meeting. The European Central Bank has been in the spotlight of late and its President, Mario Draghi has seen his fair share of that. News today implied there could be some discourse with the way Mr. Draghi has reacted to the stagnation in Europe and there could be some moves to address this in tomorrow's meeting. It is unlikely that any more stimulus announcements will be made yet more news on the already announced asset buying program should be forthcoming. IN light of this markets in Europe have not benefited form the global rally of the last few days and the poor data coming out of the EU on manufacturing has not helped the sentiment within the region.

The US markets have managed to keep close to their record highs despite a fall in oil prices and the midterm elections giving the republicans continued control of the senate. This and the news that the trade deficit had widened unexpectedly saw the US indexes relatively mute as they too no doubt wait to see what news will be forthcoming out of the ECB's meeting tomorrow. With the trade deficit widening 7.6% to $43.03bn, almost 10% higher than the predicted $40.00bn many now believe that could be the signal that interest rates may not increase in 2015.

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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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