Investors more positive on economic growth; Billabong shares up
City Index February 18, 2011 5:26 PM
<p>Asian markets were stronger today with the Hang Seng Index up 1% and the Nikkei 225 up 0.05%. The Japanese stock market rose as investor […]</p>
Asian markets were stronger today with the Hang Seng Index up 1% and the Nikkei 225 up 0.05%. The Japanese stock market rose as investor sentiment grew bullish on the economic outlook. Sharp Corp, Japan’s largest maker of liquid-crystal displays, climbed 0.8%. Nomura Holdings rose 0.7% moving the stock to a 3-day winning streak.
In Hong Kong all sectors were up today with Technology leading the charge. The Hang Seng is headed for its biggest weekly gain in more than three months. Ping Insurance Company of China rose 3.5% after announcing its accumulated written premiums for the month of January. HSBC Holdings advanced 0.9% extending yesterday’s gains.
In Australia, the local share market recovered from its wobbly start this morning to push above the 5,000 mark.
We saw mixed results (from companies reporting today) and mixed reactions from investors who seem to be trading on the news.
Beachwear manufacturer Billabong reported a drop in profit, but the share price was trading up 6 per cent today on positive outlook for future sales. On the other hand, ANZ Bank reported a healthy profit but the share price was sold down.
GAIN Capital UK Limited (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.