LONDON - Stocks recovered Thursday as a narrowing of surprise in the US trade deficit helped to consolidate investor sentiment after a week streak of losses.
It was clear relief in the markets that the US trade deficit unexpectedly fell to 43.7 billion in April of $ 56.8 billion the previous month that exports reached a record level and auto imports plunged.
Expectation in the markets was that the deficit was expanding at just below $ 49 billion, providing another cause of concern about the economic recovery in the United States.
Trade figures are important because a decrease in the deficit in the second quarter would contribute to global economic growth.
"The week has been shaping be dull at best, with markets of shares worldwide apparently unable to find gears forward," said Yusuf Heusen, trader selling experienced at IG Index. "The US trade deficit data published gave investors excuse to soak their feet in the water.".
In Europe, the FTSE index 100 shares main Close up 0.8 percent to 5,856.34 while the CAC 40 in France rose 1.1% to 3,878.65. Germany DAX fared even better, trade 1.4% higher than 7,159.66.
On Wall Street, the Dow Jones industrial average was up 0.8% at 12,140 around noon, New York City time, while the broader Standard & Poor 500 index increased 0.7% to 1,289.
The euro, however, was retired after the President of the European Central Bank has failed to provide a clear indication that interest rates could be traversed more beyond the planned increase next month.
By times of London late afternoon, the euro was trading down 0.5% on the day at $1.4517.
Although the ECB kept its main interest rate unchanged at 1.25% Thursday, its President, Jean-Claude Trichet reported that a further rate rise was likely in July as the Bank seeks to get inflation to target.
Trichet is set to retire in October, and some analysts believe that the Bank could expect that Mario Draghi successor takes the head to increase rates again.
"Comments from Trichet increase the probability of higher ECB rates in July but I think it could be up to Draghi in November, said Neil MacKinnon, strategist, global macro to VTB Capital."
In addition, the Bank of England has chosen - also widely expected - to maintain its wait 0.5% interest rate, even if inflation is running at double objective 2 per cent. The move has had little market impact and the pound sterling was more or less unchanged trade agenda to $1.6386.
Earlier in Asia, index Nikkei 225 of the closed Japan 0.2 percent higher to 9,467.15 while ABN Korea South fell by 0.6% to 2,071.42, and Hong Kong Hang Seng lost 0.2% to 22,609.83.
Chinese 苏童 shares erased gains from the day. The reference index of Shanghai Composite Index sank 1.7 for cent to 2,703.35 while the Shenzhen Composite Index smaller China, second Exchange lost 2.1% to 1,113.02.
The price of oil at the same time continued his progression after OPEC left surprisingly production levels unchanged Wednesday.
Oil reference for July delivery was up to US $70 cents to 101,44 per barrel in electronic trade on the New York Mercantile Exchange.
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Pamela Sampson in Bangkok contributed to this report.
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