Gladiator Finance's Global Economic Update 23rd January 2015

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Gladiator Finance's Global Economic Update 23rd January 2015

Global markets have rallied after the European Central Banks QE announcement yesterday.

After its monthly meeting in Frankfurt Mario Draghi confirmed that QE would be starting in March. He then went on to supply details of the scheme which is planned to run until September 2016, yet could run further if necessary.

With an initial budget of €1.1tn, the ECB will start to secure bank bonds to the tune of €60bn per month.

The news pushed markets higher with the momentum expected to continue today into the weekend.

It was reported early on Friday that the King of Saudi Arabia had died. His heir, King Salman was quick to take his position and many do no envisaged any disruptions for OPEC as it is likely that their policy will not change. Oil saw a small spike on the news and Brent is almost back up to $50.00 per barrel, sitting at $49.49 at time of writing.

HSBC's PMI index was slightly better than expected but still came in under a score of 50, the benchmark for expansion or contraction. Up marginally from Decembers 49.6, January's 49.8 is going in the right direction however many analysts had foreseen it lower, showing an indication of where they feel the 2nd largest economy is heading.

Despite this and the confirmation that China grew by 7.4% instead of the targeted 7.5%, Chinese markets have seen a strong rally this week with gains not seen like this in almost 8 years.

Major Global Indexes - 23rd January 2015

FTSE 100 - 6,796.63 (+1.02%)

Nikkei - 17,511.75 (+1.05%)

Dow Jones - 17,813.98 (+1.48%)

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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 Gladiator Finance. All market data within this release is for your general information and enjoys indicative status only. Gladiator Finance 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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