ECB speech boosts global markets... Put your money in property down under says Goldman Sachs...
ECB speech boosts global markets
Expectation of an extension of stimulus measures in the Eurozone has given a boost to global stocks Friday. ECB president Mario Draghi during the previous session hinted that there could be an early Christmas gift for the bloc when the central bank meets in December.
Asian markets have reacted to the ECB with all major indexes closing higher; Shanghai and Sydney by more than 1 per cent and Tokyo up more than 2 per cent. Japan’s Nikkei was up despite weakness in inflation and factory output but with the Bank of Japan meeting Friday expectation of stimulus was raised.
European indexes are trading higher on the ECB and a PMI report by Markit that showed activity has increased in October. Frankfurt was up more than 2 per cent in early trade.
Toronto is expected to open higher after a positive close Thursday and Wall Street stock futures are also trending higher.
Put your money in property down under says Goldman Sachs
Despite analysts suggesting that the property market in Australia has reached its peak, Goldman Sachs believes that there is opportunity in the stocks of Aussie real estate firms. It says that a sell-off in the real estate firms it monitors has seen a decline of 17 per cent in stock values but that the market is not about to see prices crash as some are forecasting and concludes that there should be a rebound in the sector’s stocks.
Expectation of an extension of stimulus measures in the Eurozone has given a boost to global stocks Friday. ECB president Mario Draghi during the previous session hinted that there could be an early Christmas gift for the bloc when the central bank meets in December.
Asian markets have reacted to the ECB with all major indexes closing higher; Shanghai and Sydney by more than 1 per cent and Tokyo up more than 2 per cent. Japan’s Nikkei was up despite weakness in inflation and factory output but with the Bank of Japan meeting Friday expectation of stimulus was raised.
European indexes are trading higher on the ECB and a PMI report by Markit that showed activity has increased in October. Frankfurt was up more than 2 per cent in early trade.
Toronto is expected to open higher after a positive close Thursday and Wall Street stock futures are also trending higher.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 17,489.16 (+1.87 per cent) | +7.43 per cent | +4.86 per cent |
| TSX Composite | 13,878.11 (+1.27 per cent) | +3.69 per cent | -4.20 per cent |
| Europe (at 6.10am ET) |
|||
| UK FTSE | 6,433.19 (+0.89 per cent) | +6.65 per cent | +0.22 per cent |
| German DAX | 10,661.08 (+1.61 per cent) | +10.91 per cent | +17.84 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,571.24 (+1.33 per cent) | +9.45 per cent | +49.05 per cent |
| Japan Nikkei | 18,825.30 (+2.11 per cent) | +4.18 per cent | +24.35 per cent |
| Other Data (at 6.15am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 48.49 (+0.85 per cent) |
45.58 (+0.44 per cent) |
1172.10 (+0.51 per cent) |
U$0.7646 |
| Aus. Dollar |
|||
| U$0.7274 | |||
Put your money in property down under says Goldman Sachs
Despite analysts suggesting that the property market in Australia has reached its peak, Goldman Sachs believes that there is opportunity in the stocks of Aussie real estate firms. It says that a sell-off in the real estate firms it monitors has seen a decline of 17 per cent in stock values but that the market is not about to see prices crash as some are forecasting and concludes that there should be a rebound in the sector’s stocks.
