It was a mixed performance on global markets overnight, with losses in the US countered by gains in Europe. The sour mood on Wall Street was sparked by Google’s third quarter profit falling well short of analyst estimates.
The search engine giant plummeted 8%, weighing heavily on the Nasdaq, which itself fell 1%. Elsewhere, the Dow (-0.1%) and S&P500 (-0.3%) recorded minor falls after US jobless claims rose more than expected last week.
Base metals managed small gains after yesterday’s Chinese GDP data came in line with estimates. Precious metals weakened, with gold (-0.6%) pressured by a stronger US dollar and settling at US$1745.
Elsewhere in the currency space, the euro backtracked against the yen and greenback ahead of an EU summit this week that will determine the next steps on how to resolve Spain’s fiscal woes.
There is no major economic data due for release today.