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

Weekly Finance Bulletin 26th November 2012

Market Roundup:

Stock markets enjoyed a positive week and in some cases rose to levels not seen since last month.

Investor sentiment was guided by German business data index as the Munich-based Ifo Institute’s index rose to 101.4 in November from 100 in October, beating expectation. A good result for Europe’s largest economy is good for the region as a whole, especially as its leaders hit a much expected deadlock over its budget negotiations.

Nonetheless, the DAX rose 3.7% for the week and France’s CAC 40 added over 4%. Indeed in France the index for the business environment rose to 88 in November from 85 in October. However business sentiment is still at a 3 year low.

In Asia, preliminary PMI data in China was also looking positive signalling a rise to 50.4, and most importantly, the first expansion in over a year. The Hang Seng advanced 3.57% and once again the Nikkei rocketed up by over 6% as exporter shares surged on the weakening Yen.

Both Japanese and US markets had shorter trading weeks due to various public holidays and US consumers flocked to grab a bargain in Black Friday sales. Indeed tech stocks were among the biggest performers with Apple gaining over 7% for the week, Microsoft nearly 4% and Blackberry manufacturer Research in Motion an astonishing 27% as its new L Series Blackberry 10 phone was leaked to the market.

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