Most of the major global indices strengthened overnight, although gains were harder to come by this time following the week-long rally on markets.
In the US, the S&P500 snapped a four session winning streak, as investors decided to take a breather following a 4% rally on the benchmark index.
The Dow shed 31 points (-0.2%) to 15964, the S&P500 slipped one point to 1819, whilst the Nasdaq rose 10 points (+0.2%) to 4201.
Across the Atlantic, European equities stayed higher even though data revealed eurozone industrial production contracted at a sharper-than-expected pace in December.
The UK FTSE climbed two points to 6675, the German DAX added 61 points (+0.7%) to 9540 and the French CAC advanced 23 points (+0.5%) to 4306.
In the commodities complex, oil rose 0.3% to US$100.28 a barrel after data showed Chinese crude imports surged in January.
Gold extended its winning streak to six sessions but failed to overcome a key technical level at $1300. Bullion futures put on 0.4% to US$1295 an ounce.
The British Pound was a key mover in currency markets, soaring against the greenback after the Bank of England upgraded its 2014 outlook for UK economic growth.
On the company earnings front, Telstra has reported a 10% increase in 1H14 net profit and upgraded its interim dividend from 14 cents previously to 14.5 cents.
In economic news, the Melbourne Institute inflation expectations survey is due out at 11:00am, AEDT. That is followed by the all-important Aussie jobs report for January, due at 11:30am, AEDT.
Written by: marketpulse Other posts from: marketpulse
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