Weekly Markets Review
|
Movement over
last 5 Days
% |
Movement since 31/12/08
% |
Movement since 31/12/07
% |
| UK FTSE 100 |
1.36
|
0.60
|
22.80 |
| UK FTSE All share |
1.48
|
0.66
|
25.78
|
| Global FTSE World ($) |
1.08 |
0.66
|
30.52
|
| US S&P Composite |
-0.49
|
0.00
|
23.45
|
| US Dow Jones |
-0.37 |
0.00
|
18.82 |
| US NASDAQ 100 |
0.45
|
0.00
|
53.54
|
| JAPAN Nikkei 225 |
1.12
|
1.03
|
20.26
|
| European FTSE Eurotop 300 |
1.49
|
0.79 |
26.70
|
| HK Hang Seng |
1.42
|
-0.23
|
51.68
|
Global stocks and commodities rose in the first trading day of 2010 leaving behind a tumultuous 2009 where most if not all equity indices had their best returns since 2003. Treasuries fell on the first trading day of 2010 as China’s manufacturing expanded at the fastest pace in more than five years and the outlook for American job losses improved. Oil gained after freezing weather hit the US. The MSCI World Equity Index advanced 0.6% in early trade in London and futures on the Standard & Poor’s 500 Index gained 0.7%. The MSCI Emerging Markets Index added 0.6% to a 17-month high. The 10-year US Treasury note yield climbed to 3.87%, near the highest level since June. Natural gas for February delivery gained as much as 4.5% and crude oil rose for an eighth day, exceeding $80 a barrel. Gold for immediate delivery added 1.3% to $1,111.32 an ounce in London. Copper for delivery in three months rose 1.1% to $7458.00 a metric ton. Chinese manufacturing expanded by the most in five years in December supporting estimates that growth has accelerated to more than 10% in the world’s third-biggest economy. A purchasing managers’ index rose to a seasonally adjusted 56.1, HSBC Holdings Plc and Markit Economics said today. The measure is based on a survey of more than 400 manufacturing companies. Today’s release may deepen concern that inflation pressures are building and parts of the Chinese economy could overheat this year. Liu Mingkang, China’s top banking regulator, said today that while asset bubbles are a threat, banks have “more than” enough capital and should extend loans to consumers and smaller businesses to sustain growth.
There were mixed reports in the US last week, with weaker than expected Consumer Confidence but better than expected Chicago Purchasing Managers report.
Goldman Sachs Group Inc. is conducting a review of its operations in London which could result in some departments being moved overseas, the Daily Telegraph reported, without saying how it got the information. The review follows the UK’s plan to introduce a windfall tax on bankers’ bonuses, a 50% top income tax rate and increased banking regulations, the newspaper said. The exercise is at an early stage and may result in no changes being made, the Telegraph said.
Reports due this week in the US include: ISM Manufacturing, ISM Prices Paid, Construction Spending, Factory Orders, Pending Home Sales, ADP Employment Change, ISM Non-Manufacturing, Initial Jobless Claims and the latest Unemployment report.