OVERNIGHT MARKETS ROUND UP – 16/04/14

By
0 mins. to read

European futures are signalling a higher open following a late rally on Wall Street and a positive session in Asia overnight. Asian shares were lifted after China reported first-quarter GDP growth that exceeded expectations. The domestic economy grew by 7.4% in the first quarter, exceeding the 7.3% forecast. However, the data still showed a slowdown from 7.7% in the final quarter last year whilst Chinese industrial output failed to meet expectations. Analysts were expecting a 9.1% rise in output compared to the 8.8% that was announced. Despite the mixed results, Asian stocks rose for the first time in four days with the regional benchmark rallying from two-week lows.

The price of copper rallied on the back of China GDP, having initially trading at a three week low on fears of weakening demand. With China meeting GDP expectations, demand for copper is expected to increase, helping the metal gain 1% in overnight trading. Gold continues its downtrend, tumbling more than 2 percent yesterday and a further 0.5% today on speculation optimistic US consumer prices will give the Federal Reserve more leeway to reduce stimulus.

Comments (0)

Comments are closed.

YOUR FREE INVESTMENT MAG

Get real investment insights from some of the best minds in the business - with our free Master Investor Magazine.