real-time news and commentary for investors
Monday, Sep 2
Equities rise as Obama delays action on Syria
- Global stocks are higher after President Obama said he would seek Congressional approval to carry out an attack on Syria, a move that has delayed any action and decreased the chances it might take place.
- The developments have reduced the demand for safe havens such as the yen, with the USD-JPY +1.2% to ¥99.31. A weakening yen tends to have a positive effect on Japanese shares.
- Gold, another haven, is -0.3%.
- Decent manufacturing PMI data in China and Europe is also boosting sentiment.
- Vodafone is +3.7% on confirmation it's in "advanced" talks to sell it's stake in Verizon Wireless for $130B.
- Japan +1.4%, Hong Kong +2%, China flat, India +1.5%.
- EU Stoxx 50 +1.5%, London +0.3%, Paris +1.6%, Frankfurt +1.6%, Madrid +1.75%, Milan +1.6%.
- Although U.S. markets are closed, stock futures are higher. Dow +0.7%. S&P +0.9%. Nasdaq +1%.