Reuters - Video

Edition: U.S. | U.K. | IN | CN

Business

Markets get that Friday feeling

Friday, March 08, 2013 - 01:23

March 8 - There were new record highs for shares on Friday thanks to anticipation of a stronger U.S. jobs figure reading, and unprecedented central bank monetary policy support. Ciara Sutton reports.

▲ Hide Transcript

View Transcript

It's Friday and shares are in the party mood. A host of European indices rose in morning trade as investors anticipated stronger U.S. jobs figures. News from closer to home also fueled the rally. Signals from the ECB that the euro zone is on the road to recovery gave the euro a boost. Germany's DAX briefly soared to a 5 year high. But trader Oliver Roth warned against complacency. (SOUNDBITE) (English) OLIVER ROTH, CHIEF TRADER FOR CLOSE BROTHERS SEYDLER BANK AG, SAYING: "Well the 8000 in the DAX shows us that we have reached a high level in the equity markets and therefore we have to be very careful concerning the risks we also see, the risk in the US, the risk in the debt prices in Europe, the recession, the economical recession in the southern part of Europe so there are a lot of risks in the market too and we have to be focused on these risks as well." Europe followed Asia - Japan's Nikkei hit a 4 and half year high. And the FTSEurofirst 300 ended the morning up over half a percent. Investors have been returning to stocks and other riskier assets for the past eight months thanks partly to slowly improving world growth. And recent negativity over the Italian elections seems to have been shrugged off in Europe - for now at least. Key political deadlines there next week could change that but it looks like investors can start the weekend in optimistic mood.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Markets get that Friday feeling

Friday, March 08, 2013 - 01:23