Market Commentary for the Week Ended March 14th 2014 Stock - TopicsExpress

Market Commentary for the Week Ended March 14th 2014 Stock markets shed gains on economic, political concerns Canada’s S&P/TSX Composite Index outperformed most global equity indexes while U.S. stock markets shed gains generated by healthier economic data releases earlier this week. These moves were largely the result of concerns about China’s economy and the geopolitical situation in Ukraine. Exports from China, the world’s second-largest economy, unexpectedly fell in February. Industrial output growth was less than expected and retail sales were weaker than anticipated. China’s Premier warned that the economy faces “severe challenges” in 2014. Meanwhile, worries about rising tensions stemming from the Russia-Ukraine standoff affected stock markets. U.S. economic data was healthier. Retail sales rebounded in February and new applications for unemployment benefits fell to a new three-month low last week. However, a reading of consumer sentiment in early March was the lowest since November. Canada’s market was held back by base metals prices, which continued their recent decline on China pessimism. The price of copper, seen by some as a barometer of global economic activity, fell to its lowest level in four years. However, gold rose to a six-month high as investors flocked to so-called “safe-haven” investments amid the Ukraine crisis. Bullion moved above US$1,380 an ounce, boosting gold mining stocks.