International Report

The FTSEurofirst 300 rose 0.2 percent closing at 1,013.66 points. The Dow Jones industrial average rose 0.89%, to 10,374.16. The Standard & Poor’s 500 Index climbed 0.9%, to 1,105.24. The Nasdaq Composite Index jumped 1.01%, to 2,235.90. The Nikkei dropped 96.87 points to 10,101.96, while the Topix shed 0.5% to close at 891.41.

Yesterday, Ben Bernanke stated that he believes US interest rates would remain low for an “extended period”, quashing fears that the US central bank was moving towards tightening monetary policy.  Yesterday, the head of the World Trade Organisation (WTO) revealed that Global trade dropped by 12% in 2009. This latest estimate from the WTO is sharp drop from the 10 per cent it previously expected. It was also stated that this was a huge drop and the sharpest decline since the end of World War Two.

Due for release today is the GBP BOE Gov King Speaks, GBP CBI Realized Sales, USD Core Durable Goods Orders m/m, USD Unemployment Claims, USD Fed Chairman Bernanke Testifies and NZD Building Consents m/m.

 by Greg Secker

This entry was posted on February 25, 2010 at 10:19 am. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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