Market Report 15 February 2010

Market Indices

China raised bank reserve cash deposit requirements for a second time in a month to help cool growth and slow the rate of inflation. European GDP Gross Domestic Product numbers were disappointing last week with Germany experiencing slower spending and investment in the last quarter.

In the UK the Bank of England BoE Chairman Mervyn King told the press that the UK pace of recovery had slowed, and the inflation outlook remained low with signs that the BoE are seeing little prospect for rising interest rates in 2010.

The UK’s FTSE All Share opened the week 2596.73 closing up 1.39% at 2632.83.

Spain’s IBEX’s index managed to creep up from 10132.1 on Monday to 10235.5 by market close on Friday, up 1.02% as the market breathed a sigh of relief over the EU Leaders proposed solutions to support Greece should it default on its debt. Markets expect the likes of Spain, Ireland, Portugal and Italy to come under increased pressure in avoiding debt default if the Greek problems can’t be contained.

In the U.S, the Dow opened the week at 10007.47 closing at 10092.19 up 0.8%.

The Nikkei opened the week at 10022.68 closing on Friday at 10092.19 up 0.69%.

Hong Kong’s Hang Seng opened the week at 19614.85 closing up 3.35% at 20272.66.

Company announcements

Companies reporting this week include: Barclays and Intercontinental Hotels on Tuesday, Legal & General and Rexam on Wednesday, Reed Elsevier, BAE Systems and Kingfisher on Thursday, and finally on Friday Shire and Anglo American.



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2010-02-17 08:57:22 © Moneyextra.com