13 Apr 2012: Strong trading sessions globally, Chinese Q1 GDP figures out

  • Asian stocks rise, Gold soars: Asian stocks have gained following strong trading sessions in US and Europe. This has, in general, boosted global equities, with Spain being the exception. Spain’s Ibex index has already fallen 14% this year. Italian 10-year yields also fell, but Spanish yields are still dangerously close to 6%.
  • Stocks: FTSE All World is up 0.07%, but FTSE Eurofirst is down 0.66%; In Asia, FTSE Asia Pacific has gained 0.9%, while Tokyo and Hong Kong are both1.6% higher; S&P 500 gained 1.4% yesterday; FTSE 100 has opened 5 points lower, a drop of 0.1% to 5705
  • Currencies: Euro has gained 0.6% against Dollar and is at $1.3191, while Yen is flat against the Dollar; Sterling
  • Commodities: Brent Crude falls 0.1% cents to $121.57/barrel; Copper loses 0.66% and is at $3.69/pound; Gold soars $20 to $1677/ounce
  • Chinese Q1 GDP grows 8.1%: Chinese GDP grew 8.1% in Q1, at its slowest YoY pace in 3 years. While this growth is being termed as slow, it was still above the 7.5% target, and analysts said that the growth picked up in March. Weak export demand from developed countries has weighed heavily on China; Beijing, however has loosened credit in the country, and the govt. announced Remnibi 1 trillion worth of loans on Thursday.
  • Google announces stock split: Google have announces an unusual stock split that will effectively hand both its founders, Larry Page and Sergey Bin lifetime control of the company. Google is set to issue one new share per outstanding share, but these new shares will carry no voting rights, which will leave its founders with 58% of voting rights.
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