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Today's market commentary

Thursday 15th May 2014

Today’s market commentary, courtesy of Beaufort Securities:
Market opening: Markets are likely to open lower today. FTSE 100 futures were trading 7.5 points down at 7:00 am.
New York: Wall Street posted losses, coming off from the previous day’s record high. A weak set of corporate updates from the companies such as Deere, Sears Holdings and Macy’s, and resumed sell-off in technology shares led to the decline. The S&P 500 closed 0.5% lower.
Asia: Markets are trading mixed. In Japan, weak profit data from financial firms, Sumitomo Mitsui Financial and Credit Saison, overshadowed robust GDP data. Increased tensions between China and Vietnam added to the negative sentiment. The Nikkei fell 0.8%, while the Hang Seng was trading 0.3% higher at 7:00 am.
Continental Europe: Markets traded volatile amid lingering concern over Ukraine and poor earnings reports. Speculations of additional stimulus from the European Central Bank (ECB) gained momentum, restricting the losses. Germany’s DAX closed flat, whereas France’s CAC 40 dropped 0.1%.
Crude oil: On Wednesday, Brent and WTI crude oil prices advanced 0.9% and 0.7%, respectively. The spread between the two varieties stood at US$7.8 per barrel.
UK small caps: Yesterday the FTSE AIM All-Share index closed 0.84 points (-0.10%) lower at 807.97.

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