BRITAIN’S benchmark FTSE 100 share index steadied near 10-week lows yesterday, retracing strong early gains as financials sold off in afternoon trade, while heavyweight defensive stocks provided underlying support.
US stocks fell in a broad market selloff yesterday, led by a sharp fall in Apple shares on worries about slowing demand for its products and weaker-than-expected results from Bank of America that battered the financial sector.
US stocks jumped more than one per cent yesterday, a day after their worst decline since November, as gold prices rebounded and earnings from Coca-Cola and Johnson & Johnson improved the outlook for first-quarter results.
AS IS so often the case with financial markets, when a bout of hysteria hits them, a really panic-driven move can set in motion a mass sell-off that doesn’t only affect equities, but almost every other risk asset that’s out there.
COMMODITY-RELATED stocks led Britain’s top share index lower yesterday following the release of disappointing data from China, the world’s largest consumer of metals, and a continued sell-off of gold and silver.
US STOCKS rose for a fourth straight day yesterday, sending the Dow and the S&P 500 to new closing highs as positive data on the labour market and an encouraging retail outlook eased recent concerns about the economy.
THE FTSE 100 rose yesterday, led by miners on hopes for an improved outlook for demand, although investors were wary that the first-quarter earnings season might not be enough to spur further market gains.
BRITAIN’S top share index ended lower yesterday, with poor US data reigniting concerns about the pace of recovery in the world’s biggest economy and hurting growth-linked sectors such as mining and banking.
NEW YORK REPORT
US STOCKS fell yesterday, with the S&P 500 index posting its biggest daily decline in more than a month, after a weaker-than-expected survey of private employers raised concerns about the strength of the economy.
THE UK’S top shares closed sharply higher yesterday as a return of M&A fervour, after heavyweight Vodafone was reported to be the subject of a multi-million pound breakup bid, helped propel shares back towards 2013 highs.
NEW YORK REPORT
US stocks rebounded from early declines to close little changed yesterday, but investors were still worried about the chance of a run on Cypriot banks and its possible implications for other Eurozone lenders.