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North American markets higher on Thursday

North American markets higher on Thursday

Wall Street ended higher on Thursday, encouraged by the prudence of the Federal Reserve and the recovery of raw materials: the Dow Jones gained 0.90%, exceeding for the first time its level of late 2015 and the Nasdaq 0.23 %.

According to final results, the index Featured Dow Jones Industrial Average gained 155.73 points 17 481.49 points beyond the closing of 31 December 2015, and the Nasdaq, dominated by technology, 11.01 points 4 774.99 points.

Closely followed by investors, the broader S & P 500 gained 13.37 points or 0.66% at 2 040.59 points. He tried sitting several incursions over its level of late 2015, but not keep up the fence.

The price of a barrel of benchmark (WTI) for April delivery, which had already taken more than two dollars the previous day, gained $ 1.74 to US $ 40.20 on the New York Mercantile Exchange (Nymex), a summit where he had not done since December 2015.

On the TSX, the S & P / TSX closed with a rise of 1.06% or 143.2 points to 13 621.30 points.

The Canadian dollar traded against 76.99 cents, the highest in five months.

"The game is restarted, there are more rate hikes (interest) on the horizon," said Mace Blicksilver at Marblehead Asset Management.

The US central bank announced Wednesday that it not only left its interest rates unchanged, but also that it was reviewing its expectations sharply lower level of the cost of money by the end of the year.

At first puzzled, investors have come to judge this cautious stance, which is to maintain a position of support to the economy, was beneficial.

"The fear of monetary tightening weighed on all markets," noted Chris Low, at FTN Financial.

The lifting of the mortgage, lowering the dollar, in any case clearly benefited the markets of oil and other raw materials, and by extension on the New York Stock Exchange.

Finally, "we have a new set of good indicators that tend to find a positive response in the market," noted Art Hogan at Wunderlich Securities.

On the side of employment, weekly jobless claims increased as expected but remain under the 300,000 mark since over a year. The indicator of manufacturing activity in the Philadelphia region rebounded in March to the surprise of analysts, which is good news after additional data similar to the New York area published Tuesday.

Finally, the composite index of leading indicators in the US, calculated by the Conference Board, rose slightly in February, after two consecutive declines in previous months.

In Europe

The main European stock markets ended the day Thursday with mixed results.

The Paris Bourse ended Thursday in the red (-0.45%), signing its fourth straight decline session, particularly penalized by a rising euro after the Fed.

The Frankfurt Stock Exchange fell sharply, finally puzzled by the caution expressed yesterday by the Fed. The index star Dax closed at -0.91%.

At the London Stock Exchange, on the contrary, the FTSE-100 index finished up 0.42%.

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Master of Economics, University of Harvard, worked as an analyst in a few large companies and specializes in many countries. Currently owned by a large company that conducts assessment of investment attractiveness in the various countries of the world.