Allan Small, senior investment adviser at Holliswealth, said the markets are trending higher as investors begin to bet that the Greek government will make a last-minute deal with creditors to stave off default and a potential exit from the euro.
“The reality the market had a robust move over the past couple of days and hasn’t actually given something again, I assume it’s truly a constructive day for many who have a constructive bias”, stated Michael James of Wedbush Securities.
USA stocks ended with slight gains yesterday, with the Nasdaq eking out another record close while investors continued to await clarity on whether Greece could reach a deal to prevent defaulting on its loans.
Sales of new homes have soared 24 per cent year to date, helped by the additional incomes from the employers hiring 3.1 million workers in the past 12 months and relatively low mortgage rates.
TOKYO (AP) – Global shares rose Wednesday, and Japan’s benchmark hit an 18-year high, amid optimism about a bailout deal between Greece and its creditors.
SALAD, BREADSTICKS AND REAL ESTATE: Darden Restaurants, owner of Olive Garden, rose $1.79, or 2.6 percent, to $71.17.
Athens rocketed 9.0 percent, while there were also big gains across Europe’s other major markets, which were extended in early trade Tuesday. The choppy trading comes on the heels of the upward move seen over the past week.
Investors were also cheered by preliminary figures suggesting a contraction in Chinese manufacturing activity may be easing.
The S&P/TSX composite index advanced 110.04 points to 14,900.52 at midafternoon, adding to Monday’s 137-point gain as the heavyweight mining, energy and financials sectors all trended higher.
GREEK TALKS: Greece’s proposals for budget savings appear to have won the initial backing from its creditors.
In corporate news, shares of AT&T Inc. jumped 2.5%, lifting the telecommunications sector, after Wall Street analysts upgraded their views on the telecom giant. Hong Kong rose 0.93 per cent, or 252.61 points, to 27,333.46. That could lead to it crashing out of the Eurozone and even the European Union.
WELLINGTON – New Zealand shares have been mixed, with A2 Milk Co leading gainers on expectations of a formal takeover offer while some leading stocks fell as a declining kiwi dollar rattled offshore investors. The Standard & Poor’s 500 index rose two points to 2,124 and the NASDAQ composite rose three point to 5,154.