Here is what is driving the markets today.
U.S. stocks rose yesterday, ending a three-day losing streak as investors bought social media and Internet shares. Similarly European stocks were steady after two sessions of price drops, although stalling momentum meant that key indexes are unlikely to be able to recoup the losses made this week.
Asian stock prices increased this morning as US markets rebounded from three consecutive days of losses.
MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.9 percent.
Britain’s FTSE 100 is expected to open 2 to 4 points higher while Germany’s DAX is expected to open 8 to points higher to 10 points lower and France’s CAC 40 is expected to open 7 points higher to 7 points lower.
Japanese stocks saw their gains disintegrate as the Yen strengthened thus eroding exporters’ competitiveness and earnings when repatriated.
The drive to acquire the Yen came after Bank Of Japan Governor offered few signs the central bank was ready to launch additional stimulus in the short term.
The MSE index gained 1.68% yesterday, ending 3 consecutive days of declines. The catalysts for this rise were BOV, HSBC and GO as all three stocks ended the session higher.
BOV rose by 5.2% ending the session at €2.42 with a trade volume of28,122. HSBC rose by 1.28% ending the session at a price of €2.38. The stock traded 6068 shares.
GO shares traded reached 51,049, leading to a rise in stock price of 2.62%.
Middlesea Insurance fell 4.21% with a trade of 1000 shares. Plaza Centres, Tigne mall and Loqus holdings rose 2.56%, 1.55% and 10.53% with trades of 9,140, 50,000, 1,108 shares respectively.
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