At
0500 BST today, FTSE 100 futures are trading 22.5 points lower.
At
0500 BST today, German DAX Xetra 30 futures are trading 22.4 points down, while
French CAC-40 futures are trading 19.8 points lower.
At
0500 BST today, DJIA futures are trading 45.0 points down.
Markets
in Japan are closed on account of a public holiday.
In
Asia, crude oil for October delivery is trading 0.2% or $0.16 higher at $99.16
per barrel.
At
0400 BST today, the GBP is trading marginally higher against the USD at
$1.6220, 0.1% lower against the EUR at €1.2359, and 0.1% lower against the JPY
at ¥126.87.
US Market
Snapshot
At
0500 BST today, DJIA futures are trading 45.0 points down.
On
Friday, DJIA added 0.4% to settle at 13,593.4. NASDAQ gained 0.9% to close at
3,184.0. S&P 500 advanced 0.4% to end at 1,466.0.
US
stocks extended for a fourth straight session on Friday, as the Federal
Reserve’s launch of an aggressive mortgage-backed bond-buying program continued
to buoy market sentiment overshadowing tepid retail sales and industrial
production data.
Apple
gained 1.2%, after its pre-orders for its iPhone 5 suggested strong demand.
Exxon Mobil added 1.2%, as oil-prices hit a four-month high, while Alcoa
advanced 2.2%, tracking a rise in aluminium prices.
JPMorgan
Chase, Goldman Sachs, Citigroup and Bank of America advanced between 0.4% and
1.6%, as risk appetite improved amongst investors. Caterpillar advanced 2.8%,
on expectations of strong demand from China as the country boosts its
infrastructure spending and as it sought to trim its workforce.
After
the closing bell, Electronic Arts shed 1.7%, as Zynga filed a countersuit
against the company. Genworth Financial slipped 1.1%, as it received subpoena
in a mortgage related suit.
Asian Market
Snapshot
Asian
markets are trading on a mixed note this morning, as the US Federal Reserve’s
plan to boost the US economy lent support to commodity firms, while losses for
exporters weighed on the South Korean market.
In
Hong Kong, Zijin Mining Group traded higher, after gold futures settled near a
seven-month high in New York on Friday. Sunshine Oilsands paced gains, after it
revealed its share buy-back plan.
In
South Korea, Samsung Electronics fell after a judge at the International Trade
Commission on Friday ruled that Apple did not violate patents owned by the
company. Korea Aerospace Industries lost value, after its shareholders mulled
to find potential buyers for their 1 trillion won stake in the company.
Markets
in Japan are closed on account of a public holiday. Hang Seng index is trading
0.1% down, at 20,605.4, while the Kospi index is trading 0.4% lower, at 2,000.2.
UK Market
Snapshot
At
0500 BST today, FTSE 100 futures are trading 22.5 points lower.
According
to Financial Times, a former senior US official has warned that BAE Systems
would have to agree to more rigorous US security arrangements if its merger
with EADS is to pass muster of regulators in Washington.
Lonmin
has rejected a pay rise offer last week insisting that it could not afford to
meet the higher wage demanded by the workers, but promised to improve talks
with them though a new approach in
labour relations.
European Market
Snapshot
At
0500 BST today, German DAX Xetra 30 futures are trading 22.4 points down, while
French CAC-40 futures are trading 19.8 points lower.
Deutsche
Bahn Chief Executive Rüdiger Grube has sought information from Thyssenkrupp
about its role in a rail track cartel within the next two weeks.
The
National Bank of Greece (NBG) announced on Friday that it had submitted an
updated bid to buy Emporiki, the Greek unit of the French bank Credit Agricole.
Commodities
In
Asia, crude oil for October delivery is trading 0.2% or $0.16 higher at $99.16
per barrel.
On
Friday, crude oil for October delivery gained 0.7% or $0.69 to $99.00 per
barrel, amid continued optimism over demand outlook following the US Federal
Reserve’s plan to introduce a third round of quantitative easing to stimulate
the faltering economy.
Oil
prices also rose as the dollar weakened against the major currencies and as
unrest in the Middle East and North Africa sparked worry over supply
disruptions.
Gold
for immediate delivery is trading 0.2% higher today, at $1,773.70 per ounce.
Gold
for December delivery settled up $0.60 at $1,772.70 per ounce on Friday, as
investors continued to cheer the US Federal Reserve’s latest plan of buying
mortgage securities for an unlimited period.
On
Friday, copper 3-month futures surged 4.1% or $327.5, to close at $8,403.00
/MT. Aluminium 3-month futures gained 2.8% or $55.0, to close at $2,005.00 /MT.
Copper prices rose on expectation that stimulus measures in the US, Europe and
China would benefit demand for commodities.
Currencies
At
0400 BST today, the GBP is trading marginally lower against the USD at $1.6220,
0.1% lower against the EUR at €1.2359, and 0.1% lower against the JPY at
¥126.87.
The
EUR is trading slightly higher against the USD at $1.3124. The EUR is trading
marginally lower against the JPY at ¥102.65. A German report tomorrow is
expected to show investor confidence remained weak in the region’s biggest
economy in September.
The
JPY is trading higher against most of it major counterparts, as the death of
Japan’s ambassador to China highlighted escalating tensions between Asia’s
biggest economies over the ownership of disputed islands. The Bank of Japan
would start a two-day policy meeting tomorrow.
On
Friday, the USD ended lower against the EUR and most of other major
counterparts, as an announcement of fresh round of monetary stimulus by the US
Federal Reserve continued to debase the local currency and dampened its demand
as a safe haven. On economic front, reports revealed that US consumer prices
and retail sales rose more-than-expected in August. However, a separate report
indicated that US industrial production fell unexpectedly in August.
The
USD closed higher against the JPY, as investors speculated that the Bank of
Japan, which holds a policy meeting 19 September, is likely to take strong
actions to stem the yen’s rise either by its own quantitative easing or
intervening in currency markets directly.
The
EUR rose, after data showed eurozone CPI rose in line with market expectations
in August and eurozone employment numbers remained unchanged in the second
quarter of 2012.
Macroeconomic
Snapshot
The
UK Rightmove house price index, on a month-on-month basis, fell 0.6% in
September, compared to a 2.4% fall recorded in August.
On
a seasonally adjusted annual basis, consumer price index (CPI) in eurozone rose
2.6% in August, from the same rate of increase recorded in the previous
month.
On
a quarterly basis, number of people employed in the eurozone remained unchanged
in second quarter of 2012.
Reuters/Michigan
consumer sentiment index in the US climbed to a preliminary reading of 79.2 in
September.
On
a month-on-month basis, industrial production in the US dropped 1.2% in August,
following a revised 0.5% increase recorded in July.
On
a monthly basis, CPI in the US rose 0.6% in August and compared to a flat
reading recorded in the previous month.
On a seasonally adjusted
monthly basis, retail sales in the US rose 0.9% in August and compared to a
revised 0.6% growth in July.
Source: www.etxcapital.com
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