Apr 29, 2014

Morning Market Report

Local markets stay steady, despite overseas trends.

The market is up eight points.The Dow Jones was up 87 points at 16,449 — Interest was mainly in large cap names with trading dominated by corporate activity and the continued theme of selling momentum or high growth stocks. The financial sector lagged after Bank of America announced an adjustment to regulatory capital ratios. Bank of America shares were 6.3% lower. The market fell at the open and was down as much as 49 points before strengthening throughout the day in a 190 point range. Trading volume was above average.

European markets were stronger — The UK FTSE was up 0.22, the French CAC was up 0.38% and the German DAX was 0.48% higher. Greece fell 2.38%.

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