DJIA
edged up 0.3% to settle at 12,943.4. NASDAQ gained 0.8% to close at 2,965.9.
S&P 500 ticked up 0.3% to end at 1,376.5.
Nikkei
225 index is trading 0.3% lower at 8,770.3.
FTSE
100 added 0.5%, to settle at 5,714.2.
FTSEurofirst
300 index closed 1.0% higher at 1,064.5.
In
Asia, crude oil for August delivery is trading 0.7% or $0.60 lower at $92.06
per barrel.
At
0400 BST today, the GBP is trading marginally lower against the USD at $1.5714,
slightly lower against the EUR at €1.2797, and 0.2% lower against the JPY at
¥123.48.
US Market
Snapshot
US
markets rose yesterday for the third straight day, with the S&P 500 index
closing to a two month high, as better-than-expected corporate earnings and
expectation for a fresh near-term stimulus in the wake of disappointing economic
data boosted market sentiment. IBM rallied 3.8%, as it boosted its full-year
earnings target. eBay gained 8.6%, as it more than doubled its second-quarter
net income. Qualcomm rallied 4.3%, as it stated that it was on track to resolve
the supply issues, which would help it to log a strong final quarter in 2012.
Walgreen soared 11.8%, after resolving a long-running dispute with Express
Scripts. Express Scripts added 1.9%.
Capital One Financial climbed 2.7%, as its core second-quarter earnings
surpassed market expectations.
DJIA
edged up 0.3% to settle at 12,943.4. NASDAQ gained 0.8% to close at 2,965.9.
S&P 500 ticked up 0.3% to end at 1,376.5.
Asian Market
Snapshot
Asian
markets are trading mostly higher this morning, as strong US corporate earnings
overshadowed dismal economic reports in the US and amid speculation China would
not relax property control policies. In Japan, steel-makers, JFE Holdings,
Nippon Steel and Kobe Steel traded lower, after a key iron-price gauge dropped
to its lowest level in eight months as weak sentiment and ample inventories
dampened demand from Chinese steelmakers. In Hong Kong, China Unicom Hong Kong
paced gains after reporting strong 3G subscriber additions in June. Cnooc and
China Petroleum & Chemical traded higher after crude oil prices firmed overnight.
In South Korea, SK Hynix paced gains, aided by bargain hunting from investors,
while LG Electronics traded higher as its US-technology peers posted solid
gains overnight.
Nikkei
225 index is trading 0.3% lower at 8,770.3. Hang Seng index is trading 0.2%
higher at 19,597.0. Kospi index is trading 0.3% higher at 1,828.6.
UK Market
Snapshot
UK
markets closed higher yesterday, with the FTSE 100 index inching to its highest
closing level in over two months, as a stream of robust earnings reports from
companies across the US and Europe boosted sentiment. Burberry jumped 4.6%,
after its French peer Hermes reported a double-digit rise in its second quarter
sales. Rio Tinto climbed 1.7%, after the company mulled to cut jobs in
Australia in an effort to reduce costs. Amongst other mining stocks, ENRC,
Antofagasta and BHP Billiton rose between 1.4% and 1.6%, respectively, tracking
a rise in base metal prices. Afren rallied 7.7%, after it discovered more oil
at its Simrit-2 exploration well in Iraq. Lloyds Banking Group advanced, 1.5%,
after it agreed to sell 632 branches for £350 million. London Stock Exchange
added 2.1%, on an upbeat trading statement and amid speculation about a bid
from Singapore Stock Exchange.
FTSE
100 added 0.5%, to settle at 5,714.2. FTSE 250 advanced 1.4 %, to close at
11,242.5.
European Market
Snapshot
Other
European markets closed higher yesterday, as upbeat quarterly earnings reports
from several companies and approval by the German lawmakers for Spain's bank
bailout overshadowed disappointing UK retail sales data and concern over rising
Spanish borrowing cost at an auction. Nokia surged 12.0%, after sales of its
flagship smartphone dropped but less than analyst estimates. Apparel
manufacturer, Hermes International rose 3.1%, after the company’s
second-quarter sales surpassed market expectations. Novartis gained 1.7%, after
the company reported less-than-expected drop in its second-quarter earnings.
Akzo Nobel soared 6.3%, after the company’s second-quarter results came in
better-than-expected.
FTSEurofirst
300 index closed 1.0% higher at 1,064.5. German DAX Xetra 30 rose 1.1% to
6,758.4. French CAC-40 closed 0.9% higher at 3,263.6.
Commodities
In
Asia, crude oil for August delivery is trading 0.7% or $0.60 lower at $92.06
per barrel. Yesterday, crude oil for August delivery advanced 3.1% or $2.79 to
$92.66 per barrel, as worries about supply disruption increased following
rising tensions in the Middle East between Iran and Israel, and in Syria. Oil
prices also rose, tracking a rise in equity markets and on increased
expectation of further monetary easing by the US following weak economic data.
Gold
for immediate delivery is trading 0.1% lower today, at $1,582.55 per ounce.
Gold for August delivery settled up 0.6% or $9.60 at $1,580.40 per ounce
yesterday, as the dollar traded lower against its peers and as dismal US
economic data raised hopes for additional economic stimulus from the US Federal
Reserve, boosting the demand for the precious metal as a hedge against
inflation.
Currencies
At
0400 BST today, the GBP is trading marginally lower against the USD at $1.5714,
slightly lower against the EUR at €1.2797, and 0.2% lower against the JPY at
¥123.48.
The
EUR is trading slightly higher against the USD at $1.2278.
The
EUR is trading 0.2% lower against the JPY at ¥96.49, ahead of economic reports
due in next week which are expected to show that eurozone consumer confidence
remained weak and manufacturing activity in the region slowed in July.
The
AUD and NZD are trading higher against the USD, tracking higher commodity
prices and amid improved speculation of more monetary stimulus from the US
Federal Reserve.
Yesterday,
the USD ended lower against its peers, as disappointing US jobless claims and
Philadelphia manufacturing data increased speculation that Federal Reserve
would implement further monetary easing to support the economy. The EUR ended
higher against the USD, tracking a rise in equity markets after the German
parliament approved a rescue package worth up to €100 billion ($122 billion) to
help ailing Spanish banks. However, earlier in the session the EUR was trading
lower, following a weak Spanish debt auction. The GBP ended higher against the
EUR, as escalating worries over euro-zone debt crisis boosted demand for the
relatively safe UK currency. The CAD ended higher against the USD, following
upbeat wholesale sales data for May and as higher commodity prices increased
the demand for the commodity linked currency.
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