Friday, 11 October 2013

Stocks jump on US debt agreement hopes, BoE leaves monetary policy unchanged

Markets surged on Thursday on reports of a possible agreement on raising the US debt ceiling. The S&P 500 jumped 2.2 percent while the STOXX Europe 600 rose 1.7 percent.

Meanwhile, in the UK, the Bank of England left monetary policy unchanged on Thursday.

Economic data out of Japan on Thursday were positive. Core machinery orders jumped 5.4 percent in August while the tertiary industry index rose 0.7 percent. The consumer confidence index rose to 45.4 in September from 43.0 in August.

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