Global markets were mixed on Friday night, with US equities steady whilst European markets lost further ground. Investors remain concerned about the eurozone’s financial situation and the US fiscal cliff.
The UK’s FTSE shed six points (-0.1%) to settle at 5770 whilst Germany’s DAX lost 42 points (-0.6%) to settle at 7164.
In the US, the Dow Jones gained four points to settle at 12815 while the S&P added two points (+0.2%) to settle at 12815. The Nasdaq gained nine points (+0.3%) to settle at 2905.
Crude oil for December delivery gained 1.2% to settle at $86.07 a barrel due to the possibility of higher demand due to supply worries in Iran and better-than-expected industrial production data in China.
In the currency space, the Japanese yen rose against its peers amidst fiscal cliff and eurozone concerns. The US dollar was also a big winner as traders and investors sought safe-haven in the greenback.
Today will see the release of home loans data and NAB Business Confidence (11:30am, AEDT).