Tuesday, April 5, 2011
American Markets: DOW JONES: 12400 + 23 NASDAQ: 2789 - 1
USDINR: 44.58 -0.12 EURINR: 63.39 +0.10
GBPINR: 71.55 +0.08 EURUSD: 1.41 +0.00
GBPUSD: 1.60 -0.00 USDJPY: 83.55 +0.42
Most U.S. Stocks Rise as Takeovers Outweigh Technology Decline: Most U.S. stocks advanced, sending the S & P's 500 Index higher for a second day, as optimism about takeovers outweighed a drop in technology shares following a report showing lower chip sales. Freeport-McMoRan Copper & Gold Inc. rose 1.3% after Minmetals Resources Ltd. offered to buy Perth-based Equinox Minerals Ltd. for about $6.5 bn. Molycorp Inc. jumped 12% as the owner of the largest rare-earth deposit outside China bought most of a European producer. Hewlett-Packard Co.,Intel Corp. retreated more than 1.1% after the Semiconductor Industry Association said global 3-month average chip sales dropped 1.1%. More than 5 stocks rose for every four that fell on U.S. exchange in New York. The S&P 500 advanced less than0.1% to 1,332.87. The Dow Jones added 23.31 points/ 0.2%, to 12,400.03 today.
The yen fell against all its major counterparts before reports that economists said will Europe's retail sales increased and U.S. services expanded, reducing demand for Japan's currency as a refuge. The dollar strengthened toward a six-month high against the yen after Federal Reserve Chairman Ben S. Bernanke said the central bank needs to monitor inflation expectations "extremely closely." The euro rose toward a 10-month high against Japan's currency on speculation the European Central Bank will raise interest rates this week.
Asian Markets: NIKKEI: 9612 -106 HANG SENG: 24150 + 348 KOSPI: 2112 - 9 SGX NIFTY 5949 + 1
Japan, Australian Stock Futures Rise as Oil, Gold Prices Gain: The Bank of Japan will start a two-day monetary policy meeting tomorrow. Japanese and Australian stock futures rose as higher oil and gold prices boosted commodity- related shares. ADR of Mitsui & Co., Japan's second-biggest trading company, gained 0.6% in New York. Those of Mitsubishi Corp., Japan's largest commodities trader, advanced 0.9%. ADRs of BHP Billiton Ltd. climbed 1.1%. Those of New crest Mining Ltd., an Australian gold producer, climbed
0.6% after the price of the precious metal rose. Yen-denominated futures on Japan's Nikkei 225 Stock Average expiring in June closed at 9,730 in Chicago on April 1, compared with 9,710 in Osaka, Japan. They were bid at 9,720 in the pre- market in Osaka at 8:05 a.m. local time. Futures on Australia's S&P/ASX 200 Index rose 0.2% today and New Zealand's NZX 50 Index climbed 0.1% in Wellington.
European Markets: FTSE: 6016 + 7 CAC: 4042 - 11 DAX: 7175 - 5
Crude oil for May delivery advanced gained 0.5% to $108.47 a barrel on the New York Mercantile Exchange, the highest settlement since Sept. 22, 2008. Prices are up 28 percent from a year ago. Gold futures for June delivery rose 0.3% to close at $1,433 in New York, the third gain in four sessions. The metal has jumped 27 percent in the past year. The MSCI Asia Pacific Index lost 1.2 percent this year through yesterday, compared with gains of 6 percent by the S&P 500 and 1.6 percent by the Stoxx Europe 600 Index. Stocks in the Asian benchmark are valued at 13.2 times estimated earnings on average, compared with 13.7 times for the S&P 500 and 11.3 times for the Stoxx 600.
at 7:38 AM