By Kris Sayce – Port Phillips Insider (Australia) –
Another crisis comes and goes almost before you can understand it.
Yesterday, markets in Asia took a beating as the Italian constitutional referendum result became clear.
Then, European markets opened. What would happen? All eyes were on the FTSE MIB index. The reaction?
Italian stocks fell 1.71% on open. Crisis ensued.
But wait, don’t panic. Within an hour, the Italian market was up 1.59% on the previous day’s close. What crisis?
By the end of the day, the FTSE MIB index was down just 0.21%.
What’s the deal? Are crises now just water off the market’s back?
It looks that way. We’ll explain what that means below…
Overnight, the Dow Jones Industrial Average gained 45.82 points, or 0.24%.
The S&P 500 gained 12.76 points, or 0.58%.
In Europe, the Euro Stoxx 50 index added 37.62 points, for a 1.25% gain. Meanwhile, the FTSE 100 gained 0.24%, and Germany’s DAX index gained 1.63%.
In Asian markets, Japan’s Nikkei 225 index is up 95.84 points, or 0.52%. China’s CSI 300 is up 0.03%.
In Australia, the S&P/ASX 200 is up 41.86 points, or 0.78%.
On the commodities markets, West Texas Intermediate crude oil is trading for US$51.34 per barrel. Brent crude is US$54.57 per barrel.
Gold is US$1,173.68 (AU$1,573.99) per troy ounce. Silver is US$16.86 (AU$22.61) per troy ounce.
The Aussie dollar is worth 74.57 US cents.
A 41-year-old ‘whodunit’
Some folks have wondered whether Australians would ever find out the real story behind the ‘Dismissal’ of former prime minister Gough Whitlam on 11 November, 1975.
Well, we believe we have the story here in this world exclusive exposé.
It’s a shocking story. Even more so considering that it happened here in Australia, and not in some tin-pot, Central American banana republic.
Subscribe here to read more (paywall)