China, India, U.S. Lead World Markets in 2014

Nichole Harper
31 Dec, 2014
New York City

World markets closed down on the final day of trading and U.S. indexes stretched annual gains for the third year in a row but larger European markets fell. Indexes in Shanghai and Mumbai led the advances in global markets and Russia and Greece led the decliners.

[R]12:30 PM New York – World markets closed down on the final day of trading and U.S. indexes stretched annual gains for the third year in a row but larger European markets fell. Indexes in Shanghai and Mumbai led the advances in global markets and Russia and Greece led the decliners.[/R]

Stocks traded sideways in thin trading on the last day of trading as market indexes stretched annual gains for the third year in a row.

On Wall Street trading, Tollbooth Strategy Index rose 0.2% or 24.20 to 10,183.81.

Tollbooth Strategy Index increased 0.4% or 38.51 to 10,181.55 and increased 13.89%.

The Tollbooth index has beaten the S&P 500 index for the thirteenth times in the last fifteen years.

Among widely followed indexes, S&P 500 index rose 2.72 or 0.1% to 2,083.06, for the month gained 0.7% and for the quarter climbed 5.6%

For the six-month S&P 500 soared 6.3% and for 2014 edged up 12.3%.

Nasdaq Composite Index gained 19.25 or 0.4% to 4,796.66 and for the week increased 0.7% and for the month edged up 0.1% and for the quarter soared 6.8%.

For the six-month Nasdaq Composite surged 8.8% and for the year gained 14.4%.

Seasonally adjusted weekly U.S. jobless claims climbed 17,000 to 298,000 from the previous week revised claims of 281,000, according to Department of Labor.

U.S. Movers

Meadowbrook Insurance Group, Inc ((MIG)) surged 19.3% or $1.38 to $8.51 after the property and casualty insurance company agreed to be acquired by China-based conglomerate Fosun International Limited for about $433 million.

The offer price of $8.65 per share represents 21% premium over closing price of $7.13 of Meadowbrook on December 30.

VSE Corporation ((VSEC)) surged 8.1% or $4.97 to $66.18 after the engineering and logistic company agreed to acquire four businesses including United States and Europe based units from Killick Aerospace Group for about $184 million in cash.

European Markets

In London trading, FTSE 100 index gained 0.3% or 19.09 to 6,566.09 and in Paris, CAC 40 index increased 0.6% or 27.21 to 4,272.75.

Market indexes in Germany and U.K. drop more than 2% and indexes in France fell 0.5%. Greece and Italy led the region with a drop of more than 28%. Spain closed higher.

Bwin.Party lowered its fiscal revenue guidance and the online gambling site operator is in talks to sell its social gaming business.

For 2014, FTSE 100 index declined 2.7%, after rising 14.4% in 2013; DAX 30 decreased 2.9% after gaining 25.5% in the previous year and CAC 40 in Paris eased 0.5% after surging 18% in 2013.

Greece led the region with a loss of 29% followed by 27% decline in Portugal index and the index in Italy closed nearly unchanged.

Denmark led the euro zone and the European Union with a surge of 21% in 2014.

In Russia, the sharp plunge in oil price and the ongoing conflict with Ukraine dragged ruble down 41% and Micex Index tracking local stocks in Moscow gained in local currency but the dollar denominated RTS index declined 42.4%.

Bwin.Party Digital Entertainment Plc gained 1.4% to 117.80 pence after the U.K.-based online gaming company forecasted total revenues in the fourth-quarter in the range of €608 million to €612 million and operating earnings margin between 16% and 17% on weak gross margin in sports betting segment.

For the fiscal 2013 total revenues for the group was €652.4 million.

The company is in talks with a number of potential suitors for its social gaming business.

Asian Markets

In Mumbai trading, Sensex Index increased 95.88 to close at 27,499.42. The CNX Nifty gained 34.45 to 8,282.70.

The market index gained for the third year in a row and investors took an optimistic view for the faster economic growth and market reforms after the election of Narendra Modi with a three-decade historic majority.

For the week, the Sensex slid 0.03% and for the month declined 3.7% and for the quarter jumped 3.5%.

For the six month, Sensex soared 7.8% and for the year surged 29.7%.

For the week, CNX Nifty rose 0.1% and for the month dropped 3.2% but for the quarter climbed 4.2%.

For the six month, CNX Nifty climbed 8.4% and for the year soared 31.1%.

KEC International Limited, the infrastructure developer secured new contracts of about Rs 1,412 crore.

Larsen & Toubro Limited, the engineering infrastructure developer secured contracts worth Rs 2,521 crore.

Mangalore Chemicals & Fertilizers Ltd, the Zuari group plans to buy 36.56% stake and invest Rs 398.2 crore in the company.