Friday, 28 September 2012


Asian shares mostly rose on Friday on optimism economic reform and budget plans unveiled by Spain will help the debt-saddled nation manage its debt imbalances, in a move seen as an effort to pre-empt the likely conditions of international assistance.


U.S. stock index futures rose on Thursday, on track to snap a five-day losing streak, as hopes grew that the Chinese government would step in to bolster the nation's slowing growth.


Benchmark 10-year note yields rose to 1.65  percent, up from 1.61 percent late on Wednesday. 


The blue-chip FTSE 100 index, which fell 1.6 percent on Wednesday to a three-week low, recovered slightly to close up 0.2 percent, or 11.33 points higher, at 5,779.42 points.


The S&P 500 snapped a five-day string of declines in a broad-based rally on Thursday, as Spain's plans for economic reform eased some worries about one of the euro zone's most troubled countries.



The Nikkei was down 0.4 percent at 8,915.24 by  mid-morning, but held above its 75-day moving average of  8,864.45.


The euro held firm on Friday, while commodity currencies started Asian trade sharply higher as worries about the euro zone eased somewhat after Spain unveiled a crisis budget that many saw was a step towards a bailout.


U.S. crude futures extended gains to above $92 a barrel on Friday, as festering tensions between Iran and the West rekindled worries about supply disruptions.


Brent November crude rose $1.97 to settle at $112.01 a barrel. It reached the day's high of $112.49 in post-settlement trade.


Oil prices rose on Thursday as tensions between Iran and the West reinforced concerns about potential supply disruptions, while Spain's plans for economic reform also lent support to crude and lifted equities on Wall Street.


Among platinum group metals, platinum traded up 1 percent at $1,644.70 an ounce.


Silver rallied 2 percent to $34.61 an ounce.


Spot platinum inched up 0.2 percent to $1,647 an ounce, heading for a 7.6-percent monthly rise, its second straight month of gains.


The most-traded January copper contract on the Shanghai Futures Exchange gained 0.54 percent to 59,390 yuan ($9,400) a tonne.


Three-month copper on the London Metal Exchange had risen 0.44 percent to $8,211 a tonne by 0117 GMT, extending  gains from the previous session, after prices hit their lowest  in two weeks at $8,082 a tonne on Wednesday.


London copper inched up on Friday after Spain took steps to buttress its economy, but it was on course for its second weekly loss in a row as the impact of central bank easing fizzled and concerns over Chinese demand weighed ahead of week-long holiday.


U.S. gold was also nearly flat at $1,779.


Spot gold was little changed at $1,776.21 an ounce  by 0035 GMT, on course for an 11-percent quarterly rise -- its  biggest quarterly gain since June, 2010.


Gold hovered near a one-week high hit in the previous session on Friday, as Spain's crisis budget eased worries about Madrid's control over its finances, strengthening the euro and underpinning gold, while a rally in oil also helped.


The S&P 500 snapped a five-day string of declines in a broad-based rally on Thursday, as Spain's plans for economic reform eased some worries about one of the euro zone's most troubled countries.

The Dow Jones industrial average rose 72.46 points, or 0.54 percent, to end unofficially at 13,485.97. The S&P 500  gained 13.84 points, or 0.97 percent, to finish unofficially at 1,447.16. The Nasdaq Composite added 42.90 points, or 1.39 percent, to close unofficially at 3,136.60.  

Wednesday, 26 September 2012


Asian shares and commodities fell on Wednesday as protests in Spain underscored the country's financing challenges and investors refocused on slowing global growth as rallies, fed by major central bank easing measures, faded.


U.S. stocks declined on Tuesday as investors sought a catalyst to justify further gains while the euro was under pressure on concerns about a bailout for debt-laden Spain.