Posts Tagged Bombay Stock Exchange Sensitive Index

Stocks Climb on Evidence Global Economy Recovering

Posted by Tetyana Matychak in Fund Markets on December 23rd, 2009

Stocks rose around the world, driving Europe’s Dow Jones Stoxx 600 Index to a 14-month high, on evidence that the global economy is recovering from its recession. Oil and copper advanced.

The MSCI World Index of developed-nation shares climbed 0.3 percent at 9:41 a.m. in London. Futures on the Standard & Poor’s 500 Index added 0.3 percent and the MSCI Asia Pacific Index increased 0.5 percent. Oil gained 0.6 percent in New York, while the dollar traded near a three-month high against the euro.

U.S. consumer spending probably rose in November for the sixth time in seven months as households took advantage of holiday discounting, economists said before reports today. China’s growth may surge to as much as 12 percent next year, according to Citic Securities Co., the nation’s biggest listed brokerage. Consumer confidence in Italy unexpectedly rose in December to the highest in more than seven years after Europe’s fourth-biggest economy emerged from a recession.

“The path of least resistance will continue to be to the upside,” Robert Doll, who helps oversee about $3.2 trillion as chief investment officer for global equities at New York-based BlackRock Inc., said in a Bloomberg Television interview. The economic recovery “means earnings should be somewhat better and liquidity should still be plentiful. That’s a recipe for equities moving higher,” Doll said. Read the rest of this entry »

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Stocks, Oil, Metals Drop on Economy Concern; Yen, Dollar Gain

Posted by Tetyana Matychak in Favourites, Fund Markets on July 6th, 2009

Stocks fell, pushing the MSCI World Index lower for a third day, and oil and industrial metals retreated on concern the global economic recovery is faltering.

The MSCI World Index of 23 developed countries slipped 0.8 percent at 10:15 a.m. in London, extending its decline since reaching a high for the year on June 2 to more than 6 percent. Germany’s DAX Index retreated, bringing its drop from its 2009 high to 10 percent, the common definition of a correction. Nickel decreased for a third day on the London Metal Exchange, while oil slumped to its lowest level in five weeks. The yen rose against all 16 most-traded currencies tracked by Bloomberg.

Stocks tumbled, with Standard & Poor’s 500 Index futures declining by 0.9 percent, before the U.S. earnings season begins with Alcoa Inc.’s results on July 8. Profits at S&P 500 companies dropped last quarter and will also contract in the three months ending in September, extending the stretch of declines to a record nine quarters, according to analysts’ estimates compiled by Bloomberg. The Institute for Supply Management’s index today may show U.S. service industries contracted for a ninth straight month in June.

“The reassessment of the global economic outlook is likely to continue this week,” a team of Citigroup Inc. strategists, including Todd Elmer in New York, wrote in a research report today. “As a result, an extension of the recent bout of risk aversion may lie in store.”  Read the rest of this entry »

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