By James Langton
(April 20 -09:00 ET) – U.S. jobless claims fell 9,000 to 257,000. Analysts were a expecting
a more modest fall. The number indicates that the economy is rolling ahead, labour markets continue to tighten, and the central bankers surely will, too.
The U.S. bond market closes early today in preparation for Good Friday, and the equity markets are all closed tomorrow, too.
In Europe market action is rather light and mixed once again today. London’s FTSE is up nine points to 6193. In France the CAC 40 has gained 81 points to 6247. Germany’s DAX is down 17 ticks to 7199.
In the mergers and acquisitions world Marconi PLC, the U.K.’s largest telecom-equipment maker, is buying Metapath Software International Ltd. for US$618 million in cash and stock.
The euro continues to make new lows, with traders abandoning hope that the European Central Bank will intervene to prop it up.
In Asia markets pitched and yawed in active trading, ultimately ending down. Japan’s Nikkei closed down 127 points to 18959. The Hang Seng slipped 60 points to 15367.
Rogers Communications Inc. reported a 5¢ per share profit this morning, down from 20¢ in the period last year.