Australian Stock Report - Market Pulse

Morning Market Update: Gains Overnight

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Publish date: Tue, 23 Apr 2013, 09:46 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.

Global markets eked out modest gains overnight, as a rally in commodity prices spurred energy and raw-material producers.

European stocks rose, rebounding from the biggest weekly drop in five months, as Italy elected a president and the Group of 20 refrained from opposing the Bank of Japan's stimulus policies.

In London the UK's FTSE 100 bucked the trend to close lower, shedding six points (-0.1%) to settle at 6281. In Germany the DAX added 18 points (+0.2%) to close at 7478.

Stateside, the Dow Jones put on 20 points (+0.1%), to settle at 14567, whilst the S&P 500 gained seven points (+0.5%) to 1563.

Crude rose to a one-week high as the Group of 20 nations approved of Japan's stimulus program, bolstering speculation that fuel demand will climb in the third-biggest oil-consuming nation. Oil for May delivery climbed 75 cents to $88.76 a barrel on the NYMEX, the highest settlement since April 12.

The yen gained for the first time in five sessions after traders failed to push the currency through 100 per dollar, a level it last weakened to four years ago.

Today's session will bring us data in the form of the CB leading index, at 10:00am, AEST.

Morning Market Update: Gains Overnight is a post from: Australian Stock Report Market Pulse Blog

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