Markets were mainly higher overnight with Europe recovering some of the hefty losses sustained in the previous session but US markets putting in another mixed performance.
In London the UK’s FTSE 100 put on 84 points (+1.6%) to settle at 5350, whilst the CAC (+1.2%) and DAX (+0.5%) also posted solid gains.
Stateside, the Dow Jones put on 34 points (+0.3%) to settle at 12530, whilst the S&P (+0.1%) and NASDAQ (-0.4%) were less convincing.
Investors remained on edge, pondering whether European officials would make a move ahead of Greece’s election next month.
The Aussie dollar remains below the 98 handle, presently buying US$0.9765, whilst the euro touched the weakest level against the dollar since July 2010 as German manufacturing data weakened and China said its biggest banks may fall short of loan targets.
Oil rebounded from a seven-month low as world powers and Iran struggled to overcome disagreements at their second round of meetings on the country’s nuclear program.
Crude for July delivery gained 76 cents to settle at $90.66 a barrel on the New York Mercantile Exchange. It’s the fourth time prices have risen this month.
Gold futures advanced for the first time this week in New York as central banks increased their holdings. Bullion for June delivery rose 0.6% to settle at $1,557.50 an ounce.
In company news, Emeco confirmed its FY12 operating NPAT of between $67 million to $70 million, in line with market consensus.
There is no major local economic data due out for today’s session.
Written by: marketpulse Other posts from: marketpulse
Posted in Market Analysis, Morning
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