Weekly Update
Dow +0.18% S&P +0.05% Nasdaq +0.23% Russell -0.12% Brazil +1.11% Nikkei +4.09% Hang Seng +2.80% CSI +2.78% Shanghai +2.49% Erostoxx+2.40% FTSE+1.80% CAC+2.03% Dax +3.34% Ibex+2.07% MIB +2.23% SMI +1.23%
The DJIA and the S&P500 both notched fresh all-time highs this week and the Nasdaq came very close to record levels as markets kept melting up in the August heat. Crude prices saw their second week of gains off the late July low, providing an assist to higher US equity valuations, while the dollar is gradually softening. Trading volumes were about 20% below average. In the US, decent retail sector earnings were seen, with the quarterly earnings season coming to a close. Economic data was less than stellar, with the July retail sales report flat after three months of solid gains. Both the July PPI report and the import prices data showed inflation losing steam again. The focus in both Japan and China was on the possibility of fresh central bank action to help prop up growth, while in the UK, the Bank of England had trouble finding enough bonds to purchase under its restarted QE program. For the week, the DJIA gained 0.2%, the S&P500 edged up less than 0.1% and the Nasdaq added 0.2%.
Macro :
Keep an eye on :
- EZJ LN : takeover chatter about a PE interested
- PNL NA : Bpost no longer in talks with PostNL
- RTN LN : New CEO could led a business through a takeover - Telegraph
- RTN LN : The Restaurant Group strategy review to recommend sale of 40 restaurants - The Times