South Korean shares end higher after the central bank unexpectedly cuts interest rates
Trading Floor News May 9, 2013 4:50 PM
<p>- After a steep rise in the European stocks that was seen to have taken the key index to multi-year highs, this morning the European […]</p>
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- After a steep rise in the European stocks that was seen to have taken the key index to multi-year highs, this morning the European stocks market moved into the blue following small losses after Chinese data showed inflation rose more than expected in April, stoking fears the government will withhold more easing measures. Britain’s FTSE 100 is seen opening down 0.1%, France’s CAC 40 dropped 1.18% and Germany’s DAX 30 fell 0.27%.
- Chinese stocks retreat, prompting a pullback in most other regional markets after data showing consumer prices rose more than expected. South Korean shares end higher after the central bank unexpectedly cuts interest rates. Toyota shares are seen up on results.
- Shares of credit checking colossus Experian are the tip of the spear for advancers on the benchmark index on Thursday. The company has delivered full year results showing sales growth across all its global markets, with Latin and North America leading the way. Total group revenue came in at 4.7bn dollars.
- Shares of BG Group PLC added 1.7%, after a broker upgrade, while Eurasian Natural Resources Corp. lost 1.6% after reporting earnings.
- On a more downbeat note, shares of Standard Chartered PLC fell 1.6%; after J.P. Morgan Cazenove cut the bank to neutral from overweight a day after the company reported a drop in first quarter profit.
- Among other notable movers in London, shares of WM Morrison Supermarkets PLC fell 2.16%.
- Looking at the economic date the European Central Bank, Publishes the Monthly Report at 9:00 this morning. Over in UK at 9:30 the GBP Manufacturing Production is released, followed by the Bank of England Rate Decision at 12pm. We will see the USD Initial Jobless Claims at 13:30 and later at 15:00 the National Institute of Economic and Social Research (NIESR) Gross Domestic Product Estimate will be released.
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