Asian stocks rise following signs of economic recovery in the US
Trading Floor News July 2, 2013 4:21 PM
<p>- Asian stocks traded higher overnight after signs of an economic recovery in the US. – This morning in Europe, Spanish unemployment data was positive […]</p>
The video cannot be shown at the moment. Please try again later.
- Asian stocks traded higher overnight after signs of an economic recovery in the US.
- This morning in Europe, Spanish unemployment data was positive and the country’s manufacturing recorded its strongest gains in two years.
- Approaching 9am the DAX traded at 7935 and the CAC traded at 3751.
- The FTSE 100 was trading lower this morning mainly due to weak pharmaceutical and tobacco stocks. Then UK construction figures came slightly lower than expected, with the FTSE at 6300 just before 9am.
- In the companies sector, Burberry saw its rating upgraded by HSBC. Their share price rose by 3.2% morning. Michelin was also trading up by 2.4% after a ratings upgrade by UBS.
- Ocado reported losses even though the company’s sales increased by 15.6%.
- As for economic data, at 3pm US factory orders will be announced. Factory orders are expected to have doubled since April. Expectations are high and optimistic after positive manufacturing data was announced yesterday.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.