Market Report, 22 October
Category: Investments, News, Shares
Helal Miah, Investment Research analyst at The Share Centre, takes a brief look at market indices and companies reporting this week.
Overall equity and commodity markets had a positive week as global economic data releases helped investor confidence. US housing data pointed towards a recovery, Chinese data surprised to the upside while the ECB received approval introduce a bank supervision program over 2013. The ECB also made supportive statements on Greece’s progress on austerity. The positive sentiment helped bond yields of troubled eurozone nations fall, with Spanish yields touching six month lows. However towards the end of the week, some disappointing earnings results, particularly Google, reversed sentiment and induced some profit taking.
The week’s performance:
The FTSE All Share closed 3079.65, up 1.8%.
The S[AND]P 500 closed at 1433.19, up 0.3%.
The EuroStoxx 600 closed at 274.08, down 1.7%.
Nikkei closed at 9002.68, up 5.5%.
WTI Crude Oil closed at $90.05, down 2.0%.
Gold closed to $1724.00, down 2.0%.
Sterling closed at 1.6004, down 0.4% against the US.
The week ahead
Important economic data releases this week:
US Federal Reserve Open Market Committee Rate Decision
UK3rd Quarter GDP, US Durable Goods Orders
US 3rd QuarterGDP,USUniversity ofMichigan Confidence Index
Companies reporting this week are:
BAT, Reckitt Benkiser
ASOS, Unilever, AstraZeneca. Shire Pharmaceuticals, Pearson, WPP
All information given including prices, yields and our opinion is correct at the time of publication. Our opinions on investments can change at any time and for our latest view please go to www.share.com. To understand how our Advice team arrive at their views please read our Investment Research Policy.