European officials finished their meeting on a positive note by approving the first emergency aid payment for Cyprus and Greece successfully secured its 7.5 billion euros of loans.Read More
The Japanese stock market closed at their highest level in more than five years which was fuelled by weakening yen and an improved profit outlook. The Japanese stock market was only the one which closed in a positive territory amongst other Asian markets.Read More
The yen has continued its slide against the basket of currencies and today for the first time in four years, the dollar was able to break the psychological level of 100.Read More
Improved sentiment in Europe following the Easter holiday pushed markets higher on Tuesday. Global Investors were reassured, following reports of an extension granted to Cyprus to meet budget targets, as part of the European rescue package expected to reach the country in May.
Cyprus Stock Exchange opened for the first time in two weeks, and declined by 2.5% due to the crisis and the resignation of the country Finance Minister Michael Messaris. Other European stock markets traded higher on the session, recovering from previous week declines.
Wall Street closed at record high with S&P 500 and DJ30 marking all times highs, as good macro data from the US in recent month provides support for the market rally. News on Tuesday showed that U.S. factory orders rose in February by 3% due to an increase in demand for cars and commercial aircraft.Read More