May 12, 2014

Morning Market Report

Fairfax shares closed up 2.55%, despite a disastrous week of strikes and job losses.

The market is down 10 points. The Dow Jones was up 32 points at 16,583, a record closing high. The market opened weaker and was down as much as 52 points before rising throughout the day. Previously sold technology stocks were stronger on the day and consumer stocks performed well. Volume was lower than average and the market traded in a 90 point range.

Ukraine — Global markets were weaker in the lead-up to independence referendums in Donetsk and Lugansk on Sunday, despite calls from Russian President Vladimir Putin that they be postponed. The EU has said the referendum is illegal and it will not recognise the result. Putin was in Crimea over the weekend.

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