Mixed Start of the Week

February 24, 2015

On Monday, world financial markets posted mixed results while Russia’s markets were closed down for Defender of the Fatherland Day.

European indices were up due to good news about Greece. The European Commission extended the Greece’s bailout program for another four months. Today Greece is to send its list of reforms to the EC as well as report on the carried out crisis measures in the country.

As a result, the British FTSE 100 gained 0.04 percent getting to 6,918.24 points, the French CAC 40 grew 0.65 percent up to 4,862.30 points, and the German DAX 30 advanced 0.73 percent up to 11,130.92 points.

In the USA, equity mostly went down due to negative data for existing home sales. According to the released report, this January sales dropped by 4.9% (down to 4.82 million) in comparison with last December, which is the lowest in 9 months. Trading resulted in the Dow Jones falling 0.13 percent down to 18,116.84 points, the S&P 500 shedding 0.03 percent down to 2,109.66 points but the NASDAQ growing 0.1 percent up to 4,960.97 points.

Oil prices fell again. The NYMEX price of WTI futures for April went down by $1.36 and made $49.45 a barrel. On London’s ICE, the price of Brent oil futures for April delivery dropped by $1.32 and reached $58.90 a barrel.

On the Forex market, there are no new developments with EUR/USD – the pair displays very little movement.

Anna Gorenkova, NordFX Analyst

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