Tuesday, 15 July 2014

Markets rise, eurozone industrial production falls

Markets rose on Monday, recovering from last week's weakness. The S&P 500 rose 0.5 percent and the STOXX Europe 600 rose 0.9 percent.

Portugal's 10-year bond rose, the yield falling six basis points to 3.81 percent.

“Last week was a reminder that the European financial crisis is far from over,” Christian Zogg, head of equity and fixed income at LLB Asset Management AG, was quoted by Bloomberg as saying.

Indeed, Europe's economic recovery remains fragile. A report on Monday showed that industrial production in the euro area fell 1.1 percent in May.

However, another report on Monday confirmed that Japan's industrial production rose in May. Output rose 0.7 percent, better than the initially-reported 0.5 percent.

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