Index rises have been recorded this morning in the Asian stock markets, led by the stock of the technology sector due to reports by Apple and IBM, which beat analysts' predictions. As such, the Tokyo stock exchange climbs 0.3%, while the Hong Kong and Seoul exchanges climb about 0.8%.
In Europe, the Eurozone finance ministers pledged to strengthen the safety net for debt-laden countries, hinting that they are not under immediate pressure to act to limit the budget crisis in the Eurozone. The meeting has caused Europe's stock markets to rise to their strongest levels in two years, with the London FTSE rising by 1.2%, the Frankfurt stock exchange climbing 0.9% and Paris ascending by 0.8%.
In the American macroeconomic sphere, production in the New York area speed up this month, due to growth in exports and local demand, this according to reports by the New York Fed's Empire State index. The index rose this month to a level of 11.9 points, as compared to December's 9.9 points. Growth had been more moderate than predicted by analysts, who expected that the index will reach the 12.5-point level in January. We remind the reader that an index above zero points to expansion in production.
The global energy agency has warned yesterday that the sharp rise in oil prices poses a meaningful threat to global economic recovery. The agency had raised its oil demand prediction for 2011 after the global economic recovery has led to the highest demand for crude oil in the last three decades.
