Saturday 24 May 2014

S&P 500 hits record high as US new homes sales rise

Markets rose on Friday, with the S&P 500 in particular rising 0.4 percent to a record high. The STOXX Europe 600 rose 0.2 percent.

US Treasuries rose, with the yield on the 10-year note falling three basis points to 2.53 percent.

Copper and oil also rose by 0.7 percent and 0.6 percent respectively.

The gain in stocks in the US was supported by a report on Friday showing that new home sales in the US rose 6.4 percent in April, the first increase in three months.

European stocks, though, rose despite a report from Germany showing that the Ifo business climate index fell to 110.4 in May from 111.2 in April.

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