May 22, 2014

Morning Market Report

Ten's shares dipped yesterday on the back of the network's decision to make 150 staff redundant.

The market is up 28 points. The Dow Jones was up 159 points at 16,533 — The market opened strongly and continued to rise after a positive reaction to the Federal Reserve minutes and some good earnings results. Consumer discretionary, energy and financials were the best performing sectors while consumer staples and materials lagged. Smaller companies underperformed the major indices. Volume was again light and the market traded in a 168 point range.

US Earnings — Were generally better than expected in the retails space. Tiffany (up 9.15%) was a standout, American Eagle beat estimates but guided lower and Target also rose despite guiding below consensus.

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