Thursday, 28 March 2013
Asian shares eased and the euro remained under pressure on Thursday as investors fretted over the euro zone after a weak debt auction in Italy and the potential for a run on Cyprus's banks when they reopen later in the day.
The US equity markets recovered from day’s lows to end mixed on Wednesday, but investors were still worried about the chance of a run on Cypriot banks and its possible implications for other euro-zone lenders. The S&P 500 Index was slightly below its closing high.
London's blue chips closed down 11.81 points, or 0.2 percent at 6,387.56, above the intraday low of 6,344.19 and bouncing off 6,380, its 3-month rising support level – one technical measure of support for a market that is trending up when viewed in the longer term.
The euro languished at four-month lows on Thursday, having suffered a further setback as a rise in Italy's funding costs weighed on markets already worried about the ramifications of Cyprus' controversial rescue deal.
Crude oil prices rose on Wednesday in choppy trading as U.S. heating oil rallied on falling distillate inventories, while rising crude oil stockpiles in the United States and the stronger dollar limited gains.
London copper edged up on Thursday from a one-week low hit in the previous session as traders closed out short positions ahead of a long holiday weekend, while prices were set to end the month and quarter down due to a lack of robust Chinese demand.
Tuesday, 26 March 2013
Asian shares eased and the euro wobbled on Tuesday as investors worried about potential risks from the Cyprus bailout scheme, after initial rallies on the last-minute rescue provided opportunities to book some profit.
Benchmark 10-year Treasuries were last up 7/32 in price to yield 1.91 percent, up from a low of 1.90 percent. The debt's yields earlier rose as high as 1.97 percent on optimism over the Cyprus agreement.