Thursday, 13 February 2014

Stocks and economic data mixed

Global stock markets were mixed on Wednesday. European and emerging-market stocks rose but US stocks fell to end their best four-day rally in a year.

In currency markets, the euro fell 0.3 percent against the US dollar after ECB Governing Council member Erkki Liikanen's comment on Tuesday that negative interest rates are a policy option for the European Central Bank.

However, the pound rose 0.8 percent after a report on Wednesday showed that the Bank of England has revised up its growth forecast for 2014 to 3.4 percent from 2.8 percent.

Economic data on Wednesday were mixed.

China reported that its trade surplus surged in January. Exports jumped 10.6 percent from a year ago while imports rose 10.0 percent.

However, in Japan, core machinery orders fell 15.7 percent in December, the most since 1998, and the tertiary industry index fell 0.4 percent.

In the euro area, industrial production fell 0.7 percent in December after having risen 1.6 percent in November.

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