Last night...

* European shares rose on Monday. Investors were encouraged by the move by the People's Bank of China to cut bank reserve requirements in an attempt to lift lending. And telecom stocks rose after Belgian company Telenet agreed to buy local mobile network operator Base from Dutch group KPN. The FTSEurofirst 300 rose by 0.8% with the German Dax up by 1.7% while the UK FTSE lifted by 0.8%. Mining shares were higher in London trade with BHP Billiton up by 2.5% while Rio Tinto gained 2.5%. * US sharemarkets rebounded on Monday after investors responded positively to economic stimulus in China. Optimism about future earnings results lifted technology stocks. And according to Thomson Reuters nearly 76% of S&P 500 companies have reported earnings above analyst expectations, topping the 70 percent average in the last four quarters. The Dow Jones rose by 209 points or 1.2% with the S&P 500 index up by 0.9% and the Nasdaq rose by 63 points or 1.3%.

Craig James
Chief Economist

I am married with three children (all in their 20s) and currently live in Huntleys Cove in the inner west of Sydney. Chief interest is athletics and trying to keeping up with the children.My current role is Chief Economist, Commonwealth...


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