Shalom Life | October 23, 2014

This Week in the Global Markets Nov 22-26

What did my money do this week?

By: Yosef Tastassa

Published: November 27th, 2010 in Business » World

This Week in the Global Markets Nov 22-26

It was one of this weeks when economics and politics walked as if they were a bride and a groom. But this week's events did not bring the couple to a good marriage.

After the monetary restraint in China and the negative impact on the markets, the last thing that Asia needed was the rising tension in the Korean Peninsula. As we all know North Korea is capable of using nuclear weapons and the regime is far from being rational. The only hope in Asia this week was Japan's industrial data which boosted the Nikkei 225 above 10,000 points.

The real economic stories this week came from Europe. If you look at the data in the tables below, two of the numbers should worry all of us.

The Madrid stock exchange dropped by 7 per cent this week, amid fears that Spain is the next European country to face monetary problems and even bankruptcy. We wrote some articles about the Irish problems and the rescue package from the EU and the IMF.

This time I tend to agree with Professor Roubini that Ireland and Greece are nothing compared to Spain. Let us all hope that the apocalyptic prophecy of the Professor will not come true.

Amid the European problems, the Euro lost over 3 per cent against the Canadian Dollar. If any of you were planning a vacation to the continent, your money is worth more.

The Israeli market kept its strong maneuvers amid the taxing issue of the energy sector and the thrill around the Leviathan reservoir. Teva will be in focus in the coming week after analysts see a bright future for the company.

The world energy sector kept boiling this week. The prices of crude oil and of natural gas surged by 2.78 and 2.64 per cent respectively.

TSX – Home sweet home. The Canadian market showed stability. As we speak, the TSX Index lost 0.41 per cent on Friday the closure was around 12,892.71 points. The weekly performance of the TSX Index was -0.49 per cent, not bad at all when comparing it to some European and most Asian markets.

Data Accuracy: November 26, end of trading day.

See tables below.

Stock Markets

North America

Points

Nov. 26

Change %

1 week

TSX - Toronto

12,892.71

-0.49

Dow Jones - New York

11,092.00

-1.00

NASDAQ – New York

2,534.56

+0.65

S & P 500 - US

1,189.40

-0.86

Asia

Hang-Seng - Hongkong

22,877.25

-3.09

Shanghai - China

2,871.70

-0.58

Nikkei 225 – Tokyo Japan

10,039.56

+0.17

SENSEX – Mumbai India

19,136.61

-2.29

ASX - Sydney

4,690.2

-0.58

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