In other news...
€ European equities finished slightly higher on Friday as investors reacted to a slow of corporate earnings and the German Apr IFO business confidence rose.
The German Apr IFO business climate index rose +0.7 to 108.6, stronger than expectations of +0.5 to 108.4 and the highest in 10 months.
Athens composite index finished more than 3% higher on the day. The Greek 10-year bond yield fell to a 1-week low of 11.84% on signs of progress in Greek debt talks, although the head of the Eurozone finance ministers said there were still "wide differences" between Greece and its creditors.
U.S. stocks traded mostly higher on Friday on carry-over support from a rally in European stocks, rally in technology stocks and overall decent company earning results as 76% of reporting S&P companies have beaten earning estimates.
The possibility of more initial public offerings (IPOs) dampened China's Shanghai Composite on the final trading day of the week. Towards the end of the afternoon session, the Shanghai bourse trimmed losses from 1.6% to eventually finish Friday 0.5% lower.
Oil prices diverged on Friday, with Brent rising to a near 4½ month high and WTI crude falling as data showed the drop in U.S. oil rigs quickened this week.
Main bearish factor for US crude prices continues to be the supply glut as Wednesday’s EIA data showed U.S crude stockpiles at a record high of 489 million bbl and crude storage at Cushing, the delivery point of WTI futures, at 62.2 million bbl, which is 88% of total capacity.
Jun gold tumbled to 5-week lows after a rally in stocks undercut the safe-haven appeal of precious metals. Gold now at $1,181.50.
FCPO closed slightly lower after trading sideway. Strong gain in Soyoil and mineral oil unable to hold the CPO gain. This week 1-25 Apr and 1-30 April exports data will give investors incentive for better buying.
No comments:
Post a Comment