Australian Stock Report - Market Pulse

Morning Market Analysis: Volatile Week Ahead

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Publish date: Mon, 28 May 2012, 11:17 AM
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Welcome to MarketPulse, the Australian Stock Report's financial market blog. In the MarketPulse blog we aim to provide frequent updates on current events across the financial markets, including market wraps, articles in the news, opinions, reviews, financial education and finally our top tip of the week. The blog is published by the Australian Stock Report research and report editing team together with our very own "Passionate Trader", Carl Capolingua.

Morning Market Analysis: Volatile Week Ahead

Global markets were mixed on Friday night with gains in Europe offset by weakness in the States.

In London the FTSE 100 crept higher, adding one point to settle at 5352, whilst the CAC (+0.3%) and DAX (+0.4%) fared better.

In the US, the Dow Jones gave up 75 points (-0.6%) to settle at 12455, whilst the S&P (-0.2%) and Nasdaq (-0.1%) were also weaker.

Stocks fell ahead of the long holiday weekend as reports of weakness in Spain underlined anxiety about the eurozone, outweighing a better-than-expected reading on US consumer confidence.

The Aussie dollar was little changed on Friday night but has pushed higher this morning and is currently buying US$0.9820.

Oil rose on the consumer confidence improvement and as the United Nations' atomic agency found evidence Iran boosted its output of enriched uranium that could be used for a nuclear weapon.

Crude oil for July delivery rose 20 cents to settle at $90.86 a barrel on the New York Mercantile Exchange.

Elsewhere, copper added 0.4% to settle and bullion gained 0.7% to settle at $1576.

There is no major local economic data due out for today's session.

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Morning Market Analysis: Volatile Week Ahead is a post from: Australian Stock Report Market Pulse Blog

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