At
0500 BST today, FTSE 100 futures are trading 13.6 points higher.
At
0500 BST today, German DAX Xetra 30 futures are trading 10.0 points up, while
French CAC-40 futures are trading 10.0 points higher.
At
0500 BST today, DJIA futures are trading 34.0 points higher.
Nikkei
225 is trading 0.6% higher, at 9,142.3.
In
Asia, crude oil for November delivery is trading 0.6% or $0.60 higher at $93.02
per barrel.
At
0400 BST today, the GBP is trading 0.1% higher against the USD at $1.6231, flat
against the EUR at €1.2503, and 0.1% higher against the JPY at ¥127.00.
US Market
Snapshot
At
0500 BST today, DJIA futures are trading 34.0 points higher.
Yesterday,
DJIA edged up 0.1% to settle at 13,596.9. NASDAQ inched 0.2% lower to end at
3,176.0. S&P 500 dropped 0.1% to close at 1,460.3.
US
markets closed mostly lower yesterday, as weak economic reports from China,
Japan, Europe and the US rattled investors sentiment, increasing concern about
global economic growth.
Citigroup,
Goldman Sachs and Morgan Stanley declined between 1.1% and 2.1%, as UBS downgraded
its rating on these stocks to “Neutral” from “Buy”. Bank of America fell 1.1%,
as it mulled to cut about 16,000 jobs by the year end.
Norfolk
Southern slumped 9.1%, after it projected third-quarter earnings that trailed
market expectations. Green Mountain Coffee Roasters slumped 9.6%, as Starbucks
revealed its own line of single-serve coffees and electric brewers,
intensifying competition.
However,
Exxon Mobil gained 1.1%, as it agreed to acquire Denbury Resources Bakken oil
shale assets for $1.6 billion. ConAgra Foods rose 6.2%, as it raised its
first-quarter dividend and boosted its profit forecast.
After
the closing bell, McDonald's edged up 0.1%, as it increased its quarterly
dividend by 10%. Michael Kors added 3.6%, as it raised its second-quarter and
full-year earnings and revenue guidance.
Asian Market
Snapshot
Asian
stock markets are trading higher this morning, tracking positive cues from the
Dow Jones Industrial Average, as recent moves by global central banks continued
to help sentiment.
In
Japan, Sharp gained value, amid report that it is in talks with Intel for
capital tie-up. Carriers of the iPhone, Softbank and KDDI advanced, as iPhone 5
hit shelves in Japan.
In
Hong Kong, AIA traded higher, following a managerial appointment, while CNOOC
gained values, as Nexen approved its takeover bid.
In
South Korea, Samsung Electronics, that gets 9% of its sales from Apple, gained
value as the new iPhone went on sale.
Nikkei
225 is trading 0.6% higher, at 9,142.3. Hang Seng index is trading 0.8% up, at
20,764.5, while the Kospi index is trading 0.5% higher, at 2,000.0.
UK Market
Snapshot
At
0500 BST today, FTSE 100 futures are trading 13.6 points higher.
The
UK lawmakers have demanded G4S to waive its $92 million management fee for its
failure to provide thousands of security guards for the Olympic Games.
The
Daily Telegraph reported that JJB sports was “hesitant” to report it had been
incorrectly applying VAT to children’s clothing resulting in a £5 million tax
liability.
European Market
Snapshot
At
0500 BST today, German DAX Xetra 30 futures are trading 10.0 points up, while
French CAC-40 futures are trading 10.0 points higher.
According
to “Süddeutsche Zeitung”, Deutsche Bank would cut thousands of jobs in Germany,
with around 543 jobs being scrapped in Bonn and Frankfurt.
Vinci
Energies, one of the five divisions of the construction group Vinci, has
announced the acquisition of the Indian company Vasundara, which specializes in
industrial automation and robotic solutions.
Commodities
In
Asia, crude oil for November delivery is trading 0.6% or $0.60 higher at $93.02
per barrel.
Yesterday,
crude oil for October delivery fell 0.1% or $0.11 to $91.87 per barrel, as
disappointing preliminary manufacturing data from Europe and China sparked
worries over slowing global economic growth and demand outlook for crude oil.
The contract expired at the end of floor trading. The most actively traded
November delivery contract gained $0.12 to settle at $92.42 per barrel.
However,
later in the trading session oil prices pared some losses, after data showed
that manufacturing activity in the Philadelphia-region improved
more-than-expected in September.
Gold
for immediate delivery is trading 0.1% higher today, at $1,771.75 per ounce.
Gold
for December delivery settled down 0.1% or $1.50 at $1,770.20 per ounce
yesterday, as the dollar strengthened against the euro decreasing the demand
for the yellow metal as a hedge against inflation.
Yesterday,
copper 3-month futures fell 1.3% or $110.5, to close at $8,220.00 /MT.
Aluminium 3-month futures dropped 1.5% or $30.0, to close at $2,025.00 /MT.
Currencies
At
0400 BST today, the GBP is trading 0.1% higher against the USD at $1.6231, flat
against the EUR at €1.2503, and 0.1% higher against the JPY at ¥127.00.
The
EUR is trading marginally higher against the USD at $1.2980 and 0.1% higher
against the JPY at ¥101.57, ahead of the meeting between Spanish Prime Minister
Mariano Rajoy and his Italian counterpart Mario Monti in Rome. However, gains
were capped, ahead of data due next week which is forecasted to show German
business sentiment remained near the lowest in more than two years in
September.
Yesterday,
the EUR ended lower against the USD and other major currencies, after data
revealed that eurozone composite PMI fell unexpectedly to a three-year low in
September. The EUR also fell, as Spanish bond yields rose for the first time in
three days.
The
USD and the JPY closed higher against other currencies, as dismal economic data
from China and the eurozone reignited worries about global economic growth,
spurring demand for the safe haven assets. A separate report revealed that US
jobless claims dropped less-than-expected last week.
The
AUD ended lower against the USD, after a report indicated that manufacturing
activity in China declined for an eleventh month in September, dampening
prospects for the nation’s resource exports.
The
NZD closed higher against the USD, after data showed that New Zealand’s
economic growth slowed less-than-estimated in the second quarter of 2012 on the
back of stronger farm output and construction.
Macroeconomic
Snapshot
On
a month-on-month basis, retail sales in the UK dropped 0.2% in August, compared
to a 0.3% rise recorded in July.
The
composite Purchasing Managers’ Index (PMI) in the eurozone fell to a reading of
45.9 in September, from 46.3 in the previous month.
The
consumer confidence index in the eurozone fell to a reading of -25.9 in
September, from -24.6 recorded in August.
The
preliminary manufacturing PMI in the US stood at a reading of 51.5 in
September, unchanged from the previous month.
For
the week ended 15 September 2012, initial jobless claims in the US fell to
382,000, from the previous week's revised figure of 385,000. However, for the
week ended 8 September 2012, continuing claims in the US fell to 3.272 million.
The
Conference Board Leading Economic Index for the US dipped 0.1% in August,
compared to a revised 0.5% increase recorded in July.
On a yearly basis, machine
tool orders in Japan dropped 2.7% in August, compared to 6.7% decrease recorded
in the previous month.
Source: www.etxcapital.com
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