Broadgate: Market News 4/4
4 April 2012
China accelerated the opening of its capital markets by more than doubling the amount foreigners can invest in stocks, bonds and bank deposits.
The dollar rose 0.3 percent against the euro as signs of improving employment supported the Fed’s decision to hold off from boosting stimulus. Figures based on payrolls from ADP Employer Services are due to be published today and may show that U.S. employment increased by 206,000 last month. That compares with a gain of 216,000 in February.
Minutes released yesterday from the March 13 Fed policy meeting showed that it planned to hold off from increasing monetary accommodation unless the economic expansion faltered or prices rose at a rate slower than its 2 percent target. Japanese stocks dropped as a result, with the Nikkei 225 Stock Average extending declines after slipping below 10,000 for the first time in two weeks.
Corn rose 0.5 percent for a fourth day of gains, the longest winning run in over a month. Quarterly inventories fell to an eight-year low in the U.S., the top exporter, a report from the U.S. Department of Agriculture showed.
Apple Inc., the world’s most valuable company, climbed 1.7 percent to $629.32 in New York after analysts predicted that demand for the iPhone and iPad, growth in China and the potential debut of a new television product would propel shares. The stock could climb past $1,000 a share, putting the maker of the iPhone on a path towards becoming the first $1 trillion U.S. company.
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