26/11/13 Market Movements

Markets closed down 58.40 points at 6,636.22 today.

Stock Prices
No movements to report

 

Market Movements
News released yesterday stated that Iran had come to a deal on Sunday to limit the Iranian nuclear program in exchange for initial sanctions relief.  This is a significant deal which would reduce the risk of a wider Middle East war. As a result, the oil and gold price fell yesterday and markets closed higher.  However, we have seen some retraction today following yesterday’s uplift in the markets.

In addition, data from the U.S. has shown that U.S. house prices rose 0.7% in September and are up 13.3% over the same period last year, according to new data from the S&P/Case Shiller index.

Also released today, was U.S. consumer confidence data which indicated that consumer confidence fell in November as Americans became worried about their jobs and prospects, according to a private sector report.  Economists were expecting a figure of 72.9 according to Reuters however the index figure came in at 70.4, down from 72.4 in the previous month.