Chinese stocks rallied for a second day, despite a drop in trade data, amid hopes the government would pursue a looser monetary policy. The Shanghai Composite climbed 2.7%, and Hong Kong’s Hang Seng advanced 1.8%. Australia’s ASX 200 gained 1.1%, and the Kospi settled up 1.5%. The Nikkei returned from a holiday to close up .4%, as Olympus shares soared 20% on news the company would not be delisted.
European markets surged, led by banks and materials stocks. Shares in Italy’s UniCredit jumped 7%, and the regional banking index climbed 4.5%. The CAC40 rallied 2.7%, the DAX advanced 2.4%, and the FTSE rose 1.5%. An upbeat outlook from Alcoa helped lift materials stocks by 3.4%.
US markets continued to rise, as the Dow gained 70 points to 12462, the Nasdaq climbed 1%, and the S&P 500 advanced .9%.
Cirrus Logic shares rocketed up 15.7% after raising its outlook for the quarter. Similarly, Lululemon shares rallied 12% on a stronger outlook.
On the negative side, Tiffany shares tumbled 10.5% after lowering its outlook. WebMD plunged 28.5%, after the company’s CEO resigned.
Currencies
The Dollar traded mostly lower against world currencies, as the market traded in a narrow range. The Australian Dollar and Canadian Dollar were the biggest gainers, climbing .7% to 1.0319 and 1.0168, respectively. The Euro inched up 10 pips to 1.2774, and the Pound gained .1% to 1.5478. The Yen and Swiss Franc settled little changed.
Economic Outlook
Wholesale inventories rose a mere .1%, less than the .5% forecast, which suggests buying is beginning to outstrip production. The small business optimism index rose to 47.5 from 42.8, exceeding forecasts.
Overseas, French industrial production increased by 1.1%, far better than the .1% forecast by analysts.
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
Binary Options Daily Analysis – Resource Stocks
Published 02/05/2012, 12:02 AM
Updated 05/14/2017, 06:45 AM
Binary Options Daily Analysis – Resource Stocks
Equities
Latest comments
Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.