Asia Pacific stocks closed sharply higher on Friday, June 29, 2012, as investors chased for bottom fishing across the region on relief over euro zone debts contagion after European leaders agreed that euro zone banks could be recapitalized without adding to government debt and opened the way for tapping a rescue fund. EU leaders emergency action soothed fears over growing credit strains in Italy and Spain and surprised a market that had been primed for disappointment.
Saturday, 30 June 2012
U.S.STOCK
Stocks surged on Friday to close out a sour quarter on a high note as investors cheered an agreement by European leaders to stabilize the region's banks, a pact that helped remove some of the uncertainty that has plagued markets.
FTSE
In Europe, the FTSE Eurofirst 300 index closed 2.6 percent higher, shaving its quarterly loss to 4.46 percent.
EURO
The euro surged against the U.S. dollar, climbing as high as $1.2692 on Reuters data, the strongest since June 21. It was last at $1.2657.
U.S.CRUDE
U.S. oil futures fell 20.4 percent and 17.5 percent for their steepest quarterly percentage drops since the fourth quarter of 2008, during the height of the global credit crunch.
BRENT CRUDE
Brent crude for August settled up $6.44 or 7.05 percent at $97.80 a barrel. U.S. crude settled up $7.27 or 9.36 percent at $84.96 a barrel, up from an eight-month low hit on Thursday.
OIL
Oil prices rallied on last trading day of the quarter, but still posted their deepest quarterly loss since 2008.
SHANGHAI COPPER
The most-active October copper contract on the Shanghai Futures Exchange rose 1.9 percent to 55,240 yuan ($8,700) p e r tonne, extending gains after rising 0.9 percent in the previous session. It is also headed for its worst quarterly performance since the third quarter of last year.
LME COPPER
Three-month copper on the London Metal Exchange was up 2.2 percent at $7,545 per tonne by 0723 GMT, its biggest daily rise since April 12. But it is down nearly 11 percent on the quarter, its worst performance since the third quarter of 2011.
COPPER
Copper rose 4.4 percent at $7,684.85 a tonne to hit a one-month high, but it was still down 8.7 percent for the quarter.
U.S.GOLD
U.S. gold futures for August delivery settled up $53.80 an ounce at $1,604.20, with trading volume in line with its 30-day average for the first time in about a week, preliminary Reuters data showed.
SPOT GOLD
Spot gold was up 3.2 percent at $1,599.66 an ounce by 3:15 p.m. EDT (1915 GMT), having hit a session high of $1,606.79 an ounce, the loftiest price since June 20.
GOLD
Gold surged 3 percent to above $1,600 an ounce o n F riday, ending June with its first monthly gain in five months, as a European deal to shore up banks and cut borrowing costs lifted bullion's investment appeal.
U.S.MARKET UPDATE
Stocks surged on Friday to close out a sour quarter on a high note as investors cheered an agreement by European leaders to stabilize the region’s banks, a pact that helped remove some of the uncertainty that has plagued markets.
The Dow Jones industrial jumped 277.83 points, or 2.20%, to 12,880.09 at the close. The Standard & Poor’s 500 rose 33.12 points, or 2.49%, to 1,362.16. The Nasdaq Composite climbed 85.56 points, or 3%, to 2,935.05.
Friday, 29 June 2012
ASIAN SHARES
Asian shares and the euro were pressured as European leaders argued over how to ease borrowing strains in Italy and Spain and stop the euro zone debt crisis spreading, with investors fearful of U.S. reaction to the deadlock.
U.S.STOCK
U.S. stocks fell on Thursday but pared back sharp losses late in the session on talk of progress by European leaders in easing the region's debt crisis, while a Supreme Court ruling upholding a landmark healthcare law hit large health insurers.
U.S.TRSEARIES
Benchmark 10-year Treasury notes traded 9/32 higher in price to yield 1.59 percent, down from 1.62 percent late Wednesday.
EURO
The euro hobbled along three-week lows in Asia on Friday as investors awaited more news from a summit of European leaders amid already diminished expectations that it will yield any concrete measures to tackle the debt crisis immediately.
NIKKEI
The Nikkei slipped 0.4 percent to 8,842.51, leaving it 12.3 percent down so far in the second quarter, which ends later on Friday, wiping out much of the first-quarter's 19.3 percent surge, the biggest first-quarter gain in 24 years.
FTSE
Banks as a whole slashed 29 points off the FTSE 100. The benchmark blue-chip index closed down 0.6 percent, or 30.86 points, at 5,493.06.
BRENT CRUDE
In London, Brent crude oil futures for August settled $2.14 lower at $91.36 a barrel, after a session low of $90.88.
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