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HindustanTimes Mon,14 Jul 2014

World markets rock as Dow at record high

AP  London, April 10, 2013
First Published: 20:45 IST(10/4/2013) | Last Updated: 20:49 IST(10/4/2013)

In the slipstream of another record high on the Dow Jones index, markets were solid on Wednesday ahead of the publication of the minutes of the US Federal Reserve's last meeting.

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Apart from Japan's Nikkei which has been buoyant on the back of a new aggressive approach from the Bank of Japan, stock markets globally have largely languished over the past few days on concerns ranging from the tensions on the Korean peninsula, a new strain of bird flu in China that has killed 9 people and worries over Portugal's public finances.

Even so, the Dow Jones eked out a new record closing high of 14,673.5 amid hopes over the coming US corporate earnings results season. That's helped shore up markets globally in the run-up to the Fed statement.

In Europe, the FTSE 100 index of leading British shares was up 0.7% at 6,359 while Germany's DAX rose 1.2% to 7,732. The CAC-40 in France was 1.2% higher at 3,714.

The session on Wall Street is expected to be fairly calm in the run-up to the Fed minutes. Dow futures were 0.2% higher while the S&P 500 futures rose 0.3%.

Traders will be keen to see if there was a marked change in tone among rate-setters and if the central bank's monetary stimulus may end sooner than expected.


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