Upbeat Chinese trade date lifted Asian stocks on Friday. China’s trade balance surged to 31.6B from 19.6B, as exports grew by 14%. The Nikkei climbed .7% to 10653, and the Kospi rallied .8% to 2007, snapping a 5-day losing streak. In Greater China, the Hang Seng advanced .6% to 23354, while the Shanghai Composite edged up .4% to 2284.
European markets settled mixed as the Bank of England and the ECB both held interest rates steady. The CAC40 fell .4% to 3703, the DAX declined .2% to 7708, while the FTSE rose a mere 3 points to 6102. Nokia shares jumped 10.8% after reporting earnings which beat forecasts.
US stocks advanced, led by the S&P 500′s .8% gain to 1472. The Dow tacked on 81 points to 13471, and the Nasdaq rose .5% to 3122.
Tiffany shares sank 4.5% after disclosing that same-store sales remained flat from a year ago.
Currencies
The euro surged 1.5% to 1.3254, as investors cheered ECB chairman, Mario Draghi’s upbeat remarks about the health of the eurozone. The pound advanced .9% to 1.6157, the Australian dollar gained .8% o 1.0596, and the Canadian dollar edged up .4%. The yen slipped .2% to 88.22, and the EUR/JPY jumped 1.7% to 116.93.
EUR/USD" title="EUR/USD" width="817" height="345">
Economic Outlook
Weekly unemployment claims unexpectedly rose by 4K to 371K. Analysts had expected the figure to drop to 361K. Wholesale inventories rose by .6%, also exceeding forecasts.
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Draghi’s Remarks Boost Euro
Published 01/14/2013, 04:47 AM
Updated 05/14/2017, 06:45 AM
Draghi’s Remarks Boost Euro
Equities
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