Monday, Jan 04, 2010
Happy new year everyone!
BBC News: Markets gain on new year optimism
New year optimism on the financial markets, together with rising commodity prices, has nudged share indexes higher on the first day of trading of 2010.Positive economic data from China, Europe and the US also added to the optimistic mood.
In China, manufacturing data showed the sector growing by the biggest margin in five years, while UK manufacturing saw the fastest pace of growth in two years. That picture was echoed in the US, where data from the Institute for Supply Management showed that the manufacturing sector grew for the fifth straight month in December, and at the fastest pace for more than three years.
The corporate picture is looking a lot better for 2010, and the market is still undervalued," he said.
Posted by smiling @ 04:56 PM (546 views) Add Comment
2 Comments
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1. quiet guy said...
Happy New Year Smiling!
There does seem to be a bit of a feelgood thing going on today on the blog today - see Flashman's post. If we are seeing growth in our manufacturing economy, that is very good thing. On the way home, I was listening to Preston talking about the 'Purchasing Managers' Index'. More below for anybody who's interested.
http://business.timesonline.co.uk/tol/business/economics/article6975050.ece
2. will said...
This index has benefitted hugely from QE and low interest rates. It was expected. When interest rates rise and QE is withdrawn then we will see a negative effect on manufacturing.