JULY 4th - DAILY REVIEW - GLOBAL ECONOMIES JULY 6th World stocks hold at all-time high - Small profit taking on European stocks, dollar v yen - Euro remains under pressure after Draghi talks cheap money - Oil heads for weekly loss amid Iraq lull World stocks were enjoying the view at an all-time high on Friday, lifted by a week of strong U.S. economic data and promises from the European Central Bank that cheap money will be sloshing around for years. European shares were marginally in the red as the dust settled from Thursdays forecast-busting U.S. jobs data and ECB meeting, with investors taking the opportunity to lock in profits after the biggest week of gains since March. A new three-year peak for Asian stocks overnight meant MSCIs All World share index, which tracks 45 countries, set its fourth consecutive record high, while the dollar, U.S. bond yields and growth-sensitive copper were also up for the week. Markets keep going up, said Daniel McCormack an equities strategist at Macquarie Capital in London. The world is still awash with money and a lot of it is still coming into equities.
Posted on: Sun, 06 Jul 2014 07:26:48 +0000
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