Mohamed E. Shaheen from iphone
Begin forwarded message:
Market overview for Monday 11th July 2011. |
| Currencies The euro plunged broadly on Monday and could continue to falter as fears mounted that Europe's debt crisis may spread to Italy, the euro zone's third largest economy. European Union finance officials struggled to find ways to resolve Greece's debt crisis, galvanized by the growing threat of contagion to Italy. European Central Bank Executive Board member Lorenzo Bini Smaghi, speaking at a conference, said Italy is clearly able to pay back its debt and will never default. The spread between yields on 10-year Italian and German government debt widened further on Monday. The euro slid to $1.3984, its lowest level against the dollar in six weeks. It last traded down 1.8 percent at $1.4012. The euro fell to its lowest level against the yen since March 18, dropping as low as 112.32 yen. The euro was last down 2.2 percent at 112.48 yen. The euro also hit a record low against the Swiss franc at 1.1672 francs. | | |
| Energy Oil fell for a second consecutive day on Monday as fears of a widening euro-zone debt crisis and a drop in Chinese crude imports rekindled concerns about a demand slowdown. China's crude oil imports fell in June and inflation in the world's No. 2 oil consumer accelerated to a three-year high, raising the probability of more monetary tightening and slowed economic and oil demand growth. Brent futures for August fell $1.09 to settle at $117.24 a barrel. Brent's two-session loss of 1.14 percent was the biggest two-day percentage drop since the period to June 24, when prices dropped almost 8 percent. U.S. August crude fell $1.05 to settle at $95.15 a barrel, having fallen as low as $94.14. |
| | |
| Precious metals Gold rose on Monday, ending at its highest point since setting a record in May, as investors sprinted for safer havens on mounting worries that the euro zone debt crisis might spill into Italy. Spot gold was up 0.4 percent at $1,550.10 an ounce. Earlier in the session, it hit a low of $1,541.40 an ounce as its latest run toward May's record high ran into heavy technical selling pressure near its three-week high of $1,557.75 an ounce. U.S. gold August futures settled up $7.60 at $1,549.20 an ounce, after trading between $1,542.10 and $1,557.60. Platinum and palladium were both lower on the day. Platinum was down 0.8 percent at $1,718.95 an ounce, while palladium fell 1.2 percent at $763.18. | | |
| Stock indices U.S. stocks suffered their worst day in nearly a month on Monday as concern about the stalemate in U.S. budget talks and growing debt problems in the euro zone prompted investors to hedge against further losses. The S&P 500 dropped nearly 2 percent on concerns that Europe's debt crisis would spread to Italy. The Dow and the Nasdaq remained modestly in the plus column. The Dow Jones industrial average was down 151.44 points, or 1.20 percent, at 12,505.76 at the close. The Standard & Poor's 500 Index was down 24.31 points, or 1.81 percent, at 1,319.49. The Nasdaq Composite Index was down 57.19 points, or 2.00 percent, at 2,802.62. After the bell, Alcoa Inc, often viewed as a bellwether of the U.S. economy, posted a big jump in second-quarter profit partly due to soaring prices for aluminum and its raw material alumina. The Dow component's stock rose 0.3 percent to $15.96 in extended-hours trading. | | |
|
Disclaimer & Risk Warning
Trading with financial instruments on margin carries a high level of risk, and may not be suitable for all investors. Trading with financial instruments is not suitable for an investor seeking an income since profits are not guaranteed. It is recommended to seek independent investment advice if necessary. This communication is provided for information purposes only and no information contained herein constitutes a solicitation for the purpose of purchase or sale of any financial instrument, nor should it serve as the basis for any investment decision. Accordingly, Clients should consider that the communication and information contained herein, is not prepared in accordance with legal requirements designed to promote the independence of investment research, and is not subject to any prohibition on dealing ahead of the dissemination of investment research. Windsor Brokers Ltd does not guarantee the accuracy or completeness of any information or analysis supplied and shall not be liable to any client or third person for the accuracy of the information or any market quotations supplied through this service to a client, nor for any delays, inaccuracies, errors, interruptions or omissions in the furnishing thereof, for any direct or consequential damages arising from or occasioned by said delays, inaccuracies, errors, interruptions or omissions, or for any discontinuance of the service.
|
|
|
|
| |
| |
| |
| |
| |
| Forward email |
| |
Windsor Brokers Ltd | Windsor Business Center | 53, Spyrou Kyprianou Av. | Limassol | 4004 | Cyprus |
No comments:
Post a Comment