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Mithril Asset management - Weekly Bulletin presented by Square Mile Financial Services

Weekly Finance Bulletin 24 September 2012

Market Roundup:

Global indices were little changed and where European markets may have given up gains mid week, they ended in ascendancy. US markets also rose as well as their Japanese and Chinese counterparts.

Indeed for the latter two, it was a big week.

The Japanese central bank has expanded its stimulus program to try to boost the country's sluggish economy, joining its counterparts in the U.S. and Europe in easing the flow of money.

The Bank of Japan Wednesday added $126 billion to its asset-purchase fund, pushing it to $695 billion, in an effort to advance the world's third largest economy. The bank said the move was necessary as economic activity in Japan had “come to a pause.”

This comes after the US Federal Reserve, took aggressive action last week in an attempt to improve hiring in the American labour market and cut the country's stubbornly high jobless rate. The Fed said that each month it would buy $40 billion worth of securities to spur more lending by banks and spending by businesses and consumers.

Earlier, the European Central Bank said it would buy the bonds being sold by the debt-ridden countries in the 17-nation euro currency bloc to ease their borrowing costs, the latest effort to resolve the continent's three-year governmental debt crisis.

Finally in China, a $156 billion stimulus package was announced where the focus of the spending will be on infrastructure projects internally. That initiative balances out the efforts of Beijing to further develop the service sector in the country. The goal is to create a consumption economy, lessening the export dependence that now exists.

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