At
0500 BST today, FTSE 100 futures are trading 2.1 points higher.
At
0500 BST today, German DAX Xetra 30 futures are trading 6.4 points higher,
while French CAC-40 futures are trading 2.7 points higher.
At
0500 BST today, DJIA futures are trading 10.0 points higher.
Nikkei
225 index is trading 1.1% lower at 9,077.2.
In
Asia, crude oil for October delivery is trading 0.6% or $0.53 lower at $95.74
per barrel.
At
0400 BST today, the GBP is trading marginally higher against the USD at
$1.5862, slightly higher against the EUR at €1.2628, and 0.1% higher against
the JPY at ¥124.70.
US Market
Snapshot
At
0500 BST today, DJIA futures are trading 10.0 points higher.
Yesterday,
DJIA shed 0.9% to settle at 13,057.5. NASDAQ slipped 0.7% to end at 3,053.4.
S&P 500 fell 0.8% to close at 1,402.1.
US
markets closed lower yesterday, after comments from a Federal Reserve official
dimmed hopes of additional monetary stimulus. Market sentiment was also weighed
down amid concern about the eurozone, and following disappointing domestic and
international economic data.
Hewlett-Packard
dropped 8.2%, after it posted a loss in its third-quarter, the worst in its
73-year history. Big Lots plunged 21.8%, as it lowered its full-year earnings
outlook.
United
States Steel dropped 6.9%, as a broker downgraded the stock from “Buy” to
“Hold”. Guess tumbled 22.6%, as it forecasted weak third-quarter results and
again lowered its full-year guidance.
International
Rectifier slumped 11.9%, as it reported a loss in its fiscal fourth-quarter.
After
the closing bell, Autodesk dropped 21.3%, as its second-quarter profit fell
9.3%, Salesforce.com declined 5.1%, after its quarterly forecasts came in lower
than market expectations.
Asian Market
Snapshot
Asian
markets are trading lower this morning, following negative cues from Wall
Street overnight and amid scaled back expectations of stimulus from major
central banks. Continued concerns about the eurozone also weighed on market
sentiment.
In
Japan, Toyota Motor, Nissan Motor, Honda Motor and industrial robot maker Fanuc
Corp dropped as a relatively stronger yen dimmed earnings prospects for
exporters.
In
Hong Kong, PetroChina is trading lower, as it reported a higher-than-expected
drop in its second-quarter net profit, while Bank of China slipped after it
reported a 6.3% decline in its first half earnings.
In
South Korea, Samsung Electronics lost value, after a South Korean court ruled
that both Apple and Samsung Electronics infringed on each other's patents in
making their mobile devices.
Nikkei 225 index is trading 1.1% lower at
9,077.2. Hang Seng index is trading 1.1% down at 19,909.3. Kospi is trading
1.0% lower at 1,923.5.
UK Market
Snapshot
At
0500 BST today, FTSE 100 futures are trading 2.1 points higher.
HSBC
Holdings, which is under money-laundering investigation by the US regulators,
is reportedly in settlement talks. HSBC has made a $700 million provision in
July for any US fines.
Sagittarius
Mines, a unit of Xstrata has warned it might delay the planned 2016 start of
production at its Tampakan copper-gold project, located in the Southern
Philippines in the wake of regulatory and security concerns.
European Market
Snapshot
At
0500 BST today, German DAX Xetra 30 futures are trading 6.4 points higher,
while French CAC-40 futures are trading 2.7 points higher.
Automobile
maker, Volkswagen’s global sales of utility vehicles rose in the first seven
months of 2012 by 4.7% to 317,300.
The
board of directors of the French online shopping guide, Leguide.com has
unanimously decided to approve the public offer of the media group Lagardere
Active.
Commodities
In
Asia, crude oil for October delivery is trading 0.6% or $0.53 lower at $95.74
per barrel.
Yesterday,
crude oil for October delivery dropped 1.0% or $0.99 to $96.27 per barrel, as
doubts about Europe's ability to address its debt crisis weighed on market
sentiment.
However,
expectations policymakers in China would implement fresh stimulus measures to
boost economic growth following dismal Chinese manufacturing data and
higher-than-expected rise in US new home sales in July limited losses.
Gold
for immediate delivery is trading 0.1% lower today, at $1,667.15 per ounce.
Gold
for December delivery settled up 2.0% or $32.30 at $1,672.80 per ounce
yesterday, as disappointing Chinese manufacturing data and US jobless claims
data boosted demand for the precious metal as a safe haven asset.
Mounting
hopes of third quantitative easing by US Federal Reserve weighed on the dollar,
pushing gold futures higher.
Yesterday,
copper 3-month futures rose 1.3% or $99.0, to close at $7,676.00 /MT. Aluminium
3-month futures gained 1.4% or $25.0, to close at $1,795.00 /MT.
Currencies
At
0400 BST today, the GBP is trading marginally higher against the USD at
$1.5862, slightly higher against the EUR at €1.2628, and 0.1% higher against
the JPY at ¥124.70, before the release of the UK GDP data for the
second-quarter due later in the day.
The
EUR is trading marginally higher against the USD at $1.2561. The EUR is trading
slightly higher against the JPY at ¥98.75. Greece Prime Minister Antonis
Samaras and German Chancellor Angela Merkel are scheduled to meet today to
discuss about the next Greece loan tranche of €31.5 billion.
Earlier
in the session, the JPY was trading higher against most of its major peers, as
most Asian equity markets traded lower, increasing the demand for safe haven
assets.
The
AUD is trading lower against the NZD, after Reserve Bank of Australia Governor
Glenn Stevens stated that the nation’s currency would probably fall if the
mining boom ends.
Yesterday,
the EUR closed higher against the USD, on a report that Spain is negotiating
with the eurozone over conditions for international aid. However, gains were
capped, after eurozone manufacturing data suggested that Europe might be
heading for another recession, as the region logged its seventh month of
manufacturing contraction in August.
The
USD ended lower against the EUR, after data showed that US jobless claims rose
to a one-month high and amid rising speculations that US Federal Reserve would
introduce another round of monetary stimulus to boost economic growth.
Macroeconomic
Snapshot
UK
BBA mortgage approvals rose to 28,441 in July, compared to revised approvals of
25,940 recorded in June.
UK
CBI retail sales balance fell to a reading of -3.0 in August from 11.0 recorded
in the previous month.
Markit
Economics reported that the flash manufacturing PMI in the US rose to a reading
of 51.9 in August, from 51.4 recorded in the previous month.
For
the week ended 18 August 2012, initial jobless claims in the US rose to
372,000, from the previous week's revised figure of 368,000.
On
a seasonally adjusted basis, new home sales in the US rose 3.6% to an annual
rate of 372,000 in July, compared to an upwardly revised rate of 359,000 in
June.
On a year-on-year basis,
the corporate service price index in Japan fell 0.2% to 96.0 in July compared
to a downwardly revised 0.4% drop recorded in June.
Source: www.etxcapital.com
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