Market Report 08 February 2010

Market Indices

Try as the markets did last week to rise against the under-current of bad news flow, they  eventually ended the week lower in the UK, U.S, Germany, Japan, and Hong Kong. Debt markets were again the centre of attention with Greece struggling to avoid outside help to reduce its spiralling deficit, which weighed on the EU. Rising concern over Greek debt put pressure on other indebted European states such as Spain, Ireland and Italy.

The UK’s FTSE All share opened the week 2649.70 closing down 2.04% at 2596.72.

Spain’s IBEX’s index fell from 10852.4 on Monday to 10138.3 by market close on Friday, down 7.04% over concerns of its Government’s ability to manage current debt levels in light of problems in Greece.

On the other side of the pond, surprising improved jobless data was not enough to lift U.S indices, being overshadowed by debt worries in Europe. The Dow opened the week at 10068.99 and closed at down 0.57% 10012.23.
Woes at Toyota over sticky accelerators and poor breaking systems on some models helped Japanese markets move lower. The Nikkei opened the week at 10212.36 closing down 1.54% on Friday at 10057.09.

Hong Kong’s Hang Seng opened the week at 199987.67 closing down 1.64% at 19665.08, as concerns remain over formation of an asset bubble.

The Week Ahead

Companies reporting this week are: Randgold Resources and Xstrata on Monday, British Land and Tui Travel on Tuesday, Reckitt Benckiser and BHP Billiton on Wednesday, Smith & Nephew, Diageo, Rolls Royce, Thomas Cook, Rio Tinto and BT on Thursday, and finally on Friday National Grid.





THIS DATA IS PROVIDED BY SHERIDAN ADMANS, INVESTMENT ADVISER AT THE SHARE CENTRE. THIS IS NOT INTENDED TO CONSTITUTE AN OFFER OR AGREEMENT TO BUY OR SELL INVESTMENTS.

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2010-02-10 10:55:26 © Moneyextra.com