Australian Stock Report - Market Pulse

Morning Market Analysis: A Mixed Night

marketpulse
Publish date: Wed, 03 Oct 2012, 10:13 AM
marketpulse
0 1,810
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.

Global markets were mixed overnight amid disappointment after Spanish Prime Minister Mariano Rajoy said a bailout request is not imminent.

Stocks slumped as Rajoy said he has no plans to request rescue funds for Spain in the near term, defying speculation that the nation was preparing to ask for a bailout.

Spanish regional presidents met in Madrid after Economy Minister Luis de Guindos said yesterday the nation is pressing on with its analysis of whether to seek a bailout.

In London the FTSE 100 shed 11 points (-0.2%) to settle at 5809, whilst the CAC (-0.6%) and DAX (-0.3%) also lost ground. Stateside, the Dow Jones gave up 33 points (-0.2%) to settle at 13482, whilst the S&P (+0.1%) and NASDAQ (+0.2 %) closed in the green.

The jobless rate in the US probably rose to 8.2% last month from 8.1% in August, as employers kept a lid on hiring, economists said before a report this week.

Payrolls increased by 115,000 in September, less than the 139,000 average over the first eight months of the year, the report, due 5 October, may also show.

The euro gained versus the dollar for a second day as speculation persisted that Spain will eventually seek a bailout even after Prime Minister Mariano Rajoy said a request for rescue funds is not imminent.

Gold futures fell from a 10-month high on renewed concern that demand in Asia will remain slow. Silver also declined. Oil fell for the first time in four days as gasoline dropped on expectations that a supply shortage in New York Harbor will ease.

Crude for November delivery slipped 59 cents to settle at $91.89 a barrel on the NYMEX. Prices are down 7% this year. Today's session will bring us the Trade Balance (11:30am, AEST) and HIA New Home Sales (tentative).

 

Morning Market Analysis: A Mixed Night is a post from: Australian Stock Report Market Pulse Blog

Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment