The Hang Seng was not hit as hard but did feel the squeeze as it dropped .1%, however is up 2% for the
week. Property shares recovered some ground today as China Overseas land added 1.7% and Poly Real
Estate, listed on the Shanghai exchange, gained back 1.8% after the 9% loss yesterday.
Europe moved on from the ECB news yesterday and is rallying around US jobs data, the FTSEurofirst
is currently ahead 1%, on track for its ninth weekly gain in a row. Eurozone banks are helping the rally
with Societe Generale up 4.5%, Intesa Sanpaolo up 6.1% and Deutsche Bank up 3.7%.Around Europe all
indices are up except for the PSI general, Germany’s Dax is up 1.5%, the French CAC 40 is up 1.4%, the
Madrid General is up 3.16% and AEX Amsterdam is up 1.67%.
Siemens, up 4.5%, has started a stock buyback, after getting shareholder approval at its annual meeting,
to use the money for employee compensation and convertible and warrant bonds.
Crude and gold are set to begin the day up as silver and natural gas are in the red.
Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market.
Comments can be directed to ryghcw19@uww.edu