Thursday 9 August 2012

August 09, 2012 Financial Market Summary


At 0500 BST today, DJIA futures are trading 45.0 points higher.
Nikkei 225 index is trading 0.4% higher at 8,918.9.
At 0500 BST today, FTSE 100 futures are trading 15.50 points higher.
At 0500 BST today, German DAX Xetra 30 futures are trading 27.60 points higher, while French CAC-40 futures are trading 15.80 points higher.
In Asia, crude oil for September delivery is trading 0.1% or $0.13 higher at $93.48 per barrel.
At 0400 BST today, the GBP is trading 0.1% higher against the USD at $1.5678, marginally lower against the EUR at €1.2660, and 0.1% higher against the JPY at ¥123.05.
US Market Snapshot
At 0500 BST today, DJIA futures are trading 45.0 points higher.
Yesterday, DJIA edged up 0.1% to settle at 13,175.6. NASDAQ ticked down 0.2% to close at 3,011.3. S&P 500 inched 0.1% to 1,402.2.
US markets ended mostly higher yesterday, on upbeat corporate earnings and as domestic nonfarm productivity rose more than expected in the second-quarter. However, markets remained cautious on downbeat comments from Federal Reserve Bank of Dallas President Richard Fisher.
Hewlett-Packard rallied 2.4%, as it raised its earnings forecast for the third-quarter and named a new head for its enterprise services unit.
Walt Disney rose 1.4%, as its third-quarter earnings exceeded market expectations and as several brokerages raised their price targets on the firm, amid higher earnings from theme parks.
However, EZchip Semiconductor plunged 25.0%, as its forecasted revenue for the third-quarter that missed analyst expectations.
After the closing bell, News Corp dropped 3.5%, as its fourth-quarter revenue came in below market expectations, while Monster Beverage slumped 9.7%, as its second-quarter results missed analysts' expectations.
Asian Market Snapshot
Asian markets are trading higher this morning, as data showed China’s inflation eased in July giving policy makers room to add stimulus and as South Korea’s central bank held its interest rates steady. Investors also await Bank of Japan’s decision today.
In Japan, Dowa Holdings traded higher, as it increased its revenue forecast for the first half. Transport shares, Mitsui O.S.K. Lines and All Nippon Airways are trading higher.
In Hong Kong, SJM Holdings gained value after it reported a sharp rise in first-half profit. Shimao Property rose despite media reports that China might introduce new property market control measures this month.
In South Korea, Hyundai Merchant Marine and Daewoo Shipbuilding & Marine Engineering traded higher, amid bargain-hunting by investors.
Nikkei 225 index is trading 0.4% higher at 8,918.9. Hang Seng index is trading 0.6% higher at 20,186.5. Kospi index is trading 1.2% higher at 1,926.4.
UK Market Snapshot
At 0500 BST today, FTSE 100 futures are trading 15.50 points higher.
Jubilee Platinum reported its second-quarter revenues of £2.9 million, driven by smelting operations in Middelburg. The company stated that sale of surplus power from its 51.0% owned power generation plant to the national electricity grid would help boost revenues.
Trinity Mirror stated that insurance group, Aviva, has cut its stake in the company to 10.89%.
European Market Snapshot
At 0500 BST today, German DAX Xetra 30 futures are trading 27.60 points higher, while French CAC-40 futures are trading 15.80 points higher.
Deutsche Telekom has reached an agreement with its work council to cut 1,200 of its 3,100 jobs at the company’s headquarters in Bonn.
Credit Agricole has received a bid interest from National Bank of Greece and Eurobank Ergasias for its unprofitable Emporiki Bank unit. Financial terms of the bid were not disclosed.
Commodities
In Asia, crude oil for September delivery is trading 0.1% or $0.13 higher at $93.48 per barrel.
Yesterday, crude oil for September delivery fell 0.3% or $0.32 to $93.35 per barrel, amid worries over demand outlook, after the American Petroleum Institute (API) reported that crude consumption declined 4% to 15.9 million barrels per day last week and following dismal German industrial production data for June.
However, declines were limited after the Energy Information Administration reported a larger-than-expected decline of 3.7 million barrels for crude inventories in the week ended 3 August.
Gold for immediate delivery is trading 0.4% higher today, at $1,618.80 per ounce.
Gold for December delivery settled up 0.2% or $3.20 at $1,616.00 per ounce yesterday, as disappointing German economic data spurred demand for the precious metal as a safe haven asset and amid hopes for additional stimulus measures from the US Federal Reserve and the ECB.
Yesterday, copper 3-month futures fell 0.5% or $35.0, to close at $7,525.50 /MT. Aluminium 3-month futures dropped 0.3% or $5.0, to close at $1,775.00 /MT.
Currencies
In Asia, crude oil for September delivery is trading 0.1% or $0.13 higher at $93.48 per barrel.

Yesterday, crude oil for September delivery fell 0.3% or $0.32 to $93.35 per barrel, amid worries over demand outlook, after the American Petroleum Institute (API) reported that crude consumption declined 4% to 15.9 million barrels per day last week and following dismal German industrial production data for June.
However, declines were limited after the Energy Information Administration reported a larger-than-expected decline of 3.7 million barrels for crude inventories in the week ended 3 August.
Gold for immediate delivery is trading 0.4% higher today, at $1,618.80 per ounce.
Gold for December delivery settled up 0.2% or $3.20 at $1,616.00 per ounce yesterday, as disappointing German economic data spurred demand for the precious metal as a safe haven asset and amid hopes for additional stimulus measures from the US Federal Reserve and the ECB.
Yesterday, copper 3-month futures fell 0.5% or $35.0, to close at $7,525.50 /MT. Aluminium 3-month futures dropped 0.3% or $5.0, to close at $1,775.00 /MT.
Macroeconomic Snapshot
The Bank of England has cut its forecasts for UK annual growth to just over 2.0% for 2013, down from the previous forecast in May of around 2.5%.
The non-farm labour productivity in the US rose more-than-expected by 1.6% in the second quarter of 2012, following a revised 0.5% drop recorded in the preceding quarter.
According to Mortgage Bankers Association (MBA), mortgage applications in the US, on a seasonally adjusted basis, fell 1.8% for the week ended 3 August 2012, from one week earlier.
On a seasonally adjusted monthly basis, core machine orders in Japan rose 5.6% in June, marking its second rise in three months and compared to a 14.8% fall recorded in May.
On a yearly basis, the consumer price index (CPI) in China eased to 1.8% in July, compared to a 2.2% rise recorded in the previous month.

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