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Tradeline Financials - Global Market Update, Week 50 - 2014
Markets globally are down as the price of oil continues to fall.
Indexes in Asia continued to fall as the price of oil started to weigh on energy stocks. The Nikkei 225 started the week close to 7.5yr highs but has relinquished its gains throughout the week as the price of oil stays near 5yr lows. The Japanese economy contracted further than previously thought in the 3rd quarter of 2014 and has continued to raise concerns for the region.
Chinese markets did manage to weather the storm earlier in the week and however it is expected that before the year draws to an end there could be substantial monetary policy changes from the Central bank as they look to fight deflation. I reserve rate cut is expected this month and additional stimulus will not be too far behind.
European markets are expected to continue down with the FTSE opening lower by as much as 0.8%. The news out of Greece yesterday caused immediate reactions and could cause the ECB to delay their introduction of QE. The Greeks are looking to exit their IMF and EU bailout programs however the austerity measures they have faced over the last couple of years have crippled the economy and the fact that the government has called for an early election has raised red flags across the EU.
Major indexes in the US were pulled down by the drop in oil. Energy stocks took the brunt of fall yesterday and this looks set to continue for the rest of the week. Key gainers were airline companies who obviously have been benefitting from low cost of oil. News that US crude supplies were higher than expected surprised the market. Analysts thought a decline of about 2.2m barrels was in order yet when the data was released a surplus of 1.5m barrels was announced.
Major Global Indices as of 11th December 2014:
Nikkei 225 - 17,257.40 (-0.89%)
FTSE 100 - 6,500.04 (-0.45%)
Dow Jones - 17,533.15 (-1.51%)
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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 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.
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