US share markets rise on strong Alcoa earnings

US share markets rise on strong Alcoa earnings

By Alicia Barry

Portuguese shares were the worst performers on concern about the health of one of the country’s largest financial groups. Lisbon’s PSI 20 fell 2. 1 per cent, Germany‘s DAX rose 0. 4 per cent and London‘s FTSE 100 index fell by 0. 3 per cent to 6,718.

“The committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the committee views as normal in the longer run,” the minutes read.

Australia‘s major miners finished higher in London trade with shares in BHP Billiton up by 0. 2 per cent, while Rio Tinto rose 0. 1 per cent.

The minutes offered no surprises, and no new clues on the timing of an interestn rate increase, with officials saying policy depends on the evolution of the economic outlook.

Concern that investors have become too complacent about the economic outlook was raised in the minutes of the US Federal Reserve‘s June meeting.

Investors will be looking to the release of official June unemployment data which is expected to show the jobless rate edged up to 5. 9 per cent from 5. 8 per cent in May.

Read more here: ABC

    

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