European share markets jump but Wall St restrained

By Simon Frazer

US economic data indicated orders of factory goods rose 10. 5 per cent in July, the largest rise since the series began in 1992 but still less than analysts had been expecting.

Russia‘s main share market, the Moscow Exchange, jumped 3. 5 per cent on the news of Vladimir Putin‘s peace plan.

The Australian dollar held its gains overnight in the wake of yesterday’s comments by Reserve Bank governor Glenn Stevens that suggest any further cuts to the official interest rate are extremely unlikely.

“Some of that ceasefire enthusiasm was dented as the session wore on, from Ukrainian leaders’ comments pouring scorn and cynicism over the proposal,” said National Australia Bank senior economist David de Garis.

The S&P was held back by a loss of 4. 2 per cent for Apple, as the tech firm faces fallout over hacked celebrity photos and concerns about its next product launch.

It was a mixed session on Wall Street overnight, despite strong gains in Europe in response to a possible peace deal between Ukraine and Russia.

Read more here: ABC


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