May 13, 2014

Morning Market Report

A steady day on the markets, ahead of tonight's budget announcement.

The market is up 28 points.The Dow Jones was up 112 points at 16,695, another record closing high. The market rose on the opening and maintained strength throughout the day. Internet and small cap shares were the leaders and cyclical stocks performed well. Corporate activity also supported investor sentiment. Volume was well below average in a 120 point range.

Ukraine — Donetsk and Lugansk voted in favour of independent rule, with almost 90% supporting moves to become part of the Russian Federation. Kiev and the international community have not recognised the votes as legitimate. The EU has placed sanctions on two Crimean companies and 13 Russian individuals following the referendums.

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