Asian shares slid on Friday, spawning declines in other risk assets, as deepening political turmoil in the euro zone fuelled concerns about global growth and a huge loss from JPMorgan added to jittery sentiment.
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Saturday, 12 May 2012
U.S.STOCK
U.S. stocks fell for a second straight week, driving the Dow Jones Industrial Average to the biggest loss of 2012.
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FTSE
The FTSEurofirst .FTEU3 index of top European stocks rose 0.3 percent to close at 1,022.52.
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EURO
The euro last traded 0.1 percent lower at $1.2918 after earlier hitting a trough of $1.2903, its lowest level since January 23. The euro peaked at $1.2957.
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BRENT CRUDE
Brent crude in London finished at $112.26, off 0.4 percent in Friday’s trade and off more than 6 percent from two weeks earlier.
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U.S.CRUDE
U.S. crude settled at $96.13 a barrel, down about 1 percent on the day and more than 8 percent lower compared to two weeks ago.
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OIL
Oil fell on Friday and posted a second straight weekly loss as pressure from weak industrial growth in China countered news that U.S. consumer confidence hit a four-year high.
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PLATINUM
Platinum Week, at which traders, miners, refiners, recyclers and buyers will meet, takes place in London next week. Recent price declines in both metals are likely to be discussed.
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LME COPPER
London Metal Exchange (LME) three-month copper shed $92 or nearly 1 percent to close at $8,013 a tonne.
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COPPER
Copper prices in both London and New York have lost nearly five percent, slicing the year’s gains in half.
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GOLD
Gold fell almost 1 percent on Friday as fears over a worsening European debt crisis and sharp losses in equities and commodities sent the precious metal to its biggest weekly decline this year.
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U.S. MARKET UPDATE
U.S. stocks fell for a second straight week, driving the Dow Jones Industrial Average to the biggest loss of 2012.
The Dow slipped 217.67 points, or 1.7 percent, to 12,820.60 for its biggest weekly decline of the year.The S&P 500 fell 1.2 percent to 1,353.39, the lowest level in two months. The index dropped 3.6 percent over two weeks, trimming its 2012 gain to 7.6 percent.
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Friday, 11 May 2012
ASIAN STOCK
Asian shares retreated on Friday, spooked by JPMorgan’s $2 billion huge loss from a failed hedging strategy, with investors warily watching political turmoil in the euro zone as they await Chinese data for clues on its growth outlook.
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U.S.STOCK
U.S. stock index futures fell sharply on Thursday evening as JPMorgan Chase & Co stunned investors with news that its chief investment office had incurred “significant mark-to-market losses” that it said could “easily get worse.”
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U.S.TREASURY
U.S. Treasury debt prices dropped on Thursday as stronger-than-expected U.S. jobless claims data and a pause in the steady stream of worrying news from Europe helped ease appetite for safe-haven government debt.
The sale of 30-year bonds notched a high yield of 3.090 percent, slightly below the yield in the when-issued market before the auction. The when-issue market is considered a proxy for where the high yield will come in at auction.
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FTSE
The FTSE 100 index was up 13.90 points, or 0.3 percent at 5,543.95, holding above key technical support at 5,538 after recovering from a drop through the 5,500 level early on.
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NIKKEI
The Nikkei share average steadied on Friday ahead of industrial output data from China, Japan’s largest export market, though investors zoomed in on companies such as Nikon Corp and Hitachi Corp which have reported positive earnings.
The Nikkei was flat at 9,008.10, holding below its 200-day moving average near 9,049.
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EURO
The euro hit a fresh 3-1/2 month low on Friday as the common currency smarted from political deadlock in Greece that has left investors fretting about the risk of the country exiting the euro zone.
The currency fell to as low as $1.2907, after stop-loss sell orders were triggered around $1.2925.
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BRENT CRUDE
Brent crude slipped 78 cents to $111.95 a barrel, after settling 47 cents lower.
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OIL
Oil prices ended mixed in choppy trading on Thursday as weaker-than-expected Chinese trade data, higher OPEC production and evidence of a strengthening U.S. jobs market muddied the oil demand outlook.
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