Monday, 2 May 2011

Market High on osama's death

The US dollar has rebounded and stock markets gained in Asia and Europe after US President Barack Obama said Osama Bin Laden had been killed.
Oil prices slid more than 1%, while "safe havens" such as gold and silver also lost value.
Analysts said Bin Laden's death could reduce security risks and would help lift consumer sentiment in the US.
But they warned that it would do little to ease the longer-term risks hanging over the US and global economies.
"There is some feel-good value and the market will like that," said Chip Hanlon of Delta Global Advisors.
But he added: "It doesn't change much about the energy situation and doesn't change much about the ongoing battle with radical Islamists."
Stock index futures indicated that Wall Street's main S&P 500 index would rise by 0.7% when it opened later on Monday.
In Asia, Japan's Nikkei 225 index gained 1.6%, closing above the 10,000 level for the first time since mid-March, when the country was struck by a deadly earthquake and tsunami.

No comments:

Post a Comment