The Japanese yen USDJPY -0.0761% , the dollar was buying ¥103.40, up from ¥103.10 late Thursday. The dollar slid more than 1% to below the ¥104 level on Thursday in the wake of an unexpected contraction in China’s manufacturing sector in January, as well as a decline in an preliminary gauge of U.S. manufacturing to a three-month low this month, with some of the slowdown stemming from cold weather. Click Here To Register For Free Trial Services
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Heating oil led the price gains among the Nymex energy futures, with the February contract settling at $3.077 a gallon, up by almost 4 cents, or 1.3%. February gasoline RBG4 +0.06% slipped 1.5 cents, or 0.6%, to $2.66 a gallon.
Distillate stockpiles, which include heating oil, fell by 3.2 million barrels, the EIA said, while gasoline supplies climbed 2.1 million barrels. Analysts were looking for distillate inventories to fall by 1.2 million barrels and gasoline supplies to rise by 1.7 million barrels. Click Here To Register For Free Trial Services
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McDonald’s MCD +0.46% reported nearly flat earnings in the fourth quarter, as sales edged down slightly while expenses rose. Earnings per share were $1.40, slightly ahead of consensus expectations. Chief Executive Don Thompson called 2013 “ a challenging year”. Shares in the fast-food chain were slightly lower in premarket.
Starbucks Corp. SBUX +1.17% and Microsoft Corp. MSFT +3.51% will report after the market closes. Click Here To Register For Free Trial Services
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SINGAPORE: The Singapore Exchange (SGX) posted a two per cent on-year drop in its second quarter net profit at S$ 75 million, a shade lower than market expectations.
At an earnings briefing, SGX said the securities market had a challenging quarter due to lower participation by both retail and institutional investors.
Revenue from the securities business fell 13 per cent to S$ 52.2 million for the quarter ended 31 December 2013.
The decline was offset by growth in the derivatives business which rose 16 per cent to S$ 52.5 million.
The securities and derivatives businesses each contributed to 32 per cent of total revenue — the first quarter that they came in on par.
SGX said the total traded value for securities was 18 per cent lower at S$ 64.1 billion. Meanwhile, the total volumes for derivatives grew 18 per cent to 26.3 million contracts.)
Total revenue for the second quarter was up two per cent on-year at about S$ 165 million.
SGX CEO Magnus Bocker added that the Catalist market has also performed well.
“You will see that the traded value on our mainboard was down 22 per cent compare to the average of 18 per cent, while the Catalist market was actually up 141 per cent. Catalist now represents eight per cent of our total market compare to 2.5 per cent a year ago,” he said.
“If you look at the velocity, that is to say the market cap versus the turnover for our Catalist companies, it is significantly higher than the turnover velocity for our mainboard listed companies so it is a very attractive platform. Click Here To Register For Free Trial Services
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Gold for February deliver GCG4 -0.32% dipped $5.30, or 0.4%, to $1,233.50 an ounce. March silver SIH4 -0.55% lost 13 cents, or 0.7%, to $19.71 an ounce. There hasn’t been much in the way of economic data to push and pull gold prices, but that could change on Thursday, with weekly jobless claims, the Markit “flash” U.S. PMI, existing home sales and leading indicators all set to be reported. Read: Spotlight on the economy . Click Here To Register For Free Trial Services
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The S&P 500 SPX +0.06% was up 1.06 points at 1,844.86. The Dow Jones Industrial Average DJIA -0.25% fell 41.10 points, or 0.3%, to 16,373.34, falling for the second day in a row. The Nasdaq Composite COMP +0.41% was the best performing index, gaining 17.24 points, or 0.4%, to 4,243.00, its highest level since July 17, 2000. The tech-heavy index gained in five out of last six trading days and is the only measure with year-to-date gains Click Here To Register For Free Trial Services
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Among the petroleum products traded on Nymex Tuesday, February gasoline RBG4 +0.48% closed nearly flat at $2.62 a gallon, while February heating oil pulled back from an earlier rally to finish at $3.015 a gallon, down almost a penny.
February natural gas NGG14 +0.90% rallied by 10.5 cents, or 2.4%, to end at $4.43 per million British thermal units. Prices saw their highest close since late December , according to FactSet data tracking the most-active contracts. Click Here To Register For Free Trial Services
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February crude oil CLG4 +0.98% added 62 cents, or 0.7%, to settle at $94.99 a barrel on the New York Mercantile Exchange after tapping a high at $95.23. The contract expired at the close, which tends to add to volatility. The March contract CLH4 +0.50% , which became the front-month contract, settled at $94.97 a barrel, up 38 cents, or 0.4%.
On ICE Futures, Brent oil, the European benchmark, saw its March contract UK:LCOH4 +0.29% add 38 cents, or 0.4%, to $106.73 a barrel. Click Here To Register For Free Trial Services
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Shares of IBM IBM -2.59% fell 3.1% to $182.59 on heavy volume after the company reported adjusted earnings of $6.13 a share on revenue of $27.7 billion. IBM was expected to report fourth-quarter earnings of $5.99 a share on revenue of $28.27 billion, according to analysts polled by FactSet. IBM shares closed down 0.9% during a trading day of chatter that the company and Lenovo Group Ltd. HK:992 -0.96% have re-engaged discussions for Lenovo to buy IBM’s x86 server business, following a Wall Street Journal report. RBC Capital Markets analyst Amit Daryanani said in a Tuesday note that the deal would be a positive for IBM, as it would reduce Big Blue’s exposure to commoditized hardware. It’s been nearly 10 years since IBM sold its PC business to Lenovo. Click Here To Register For Free Trial Services
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Apple Inc. AAPL +0.05% rose by $8.40 a share to $549.07, helping boost the Nasdaq. Societe Generale analyst Andy Perkins cut his rating on the company to hold from buy.
Among tech companies reporting quarterly results Tuesday, IBM Corp. IBM -2.59% was down by almost 1% to close at $188.43; Texas Instruments Inc. TXN -1.00% shares also fell nearly 1%, to $43.85 and Advanced Micro Devices Inc. AMD -12.23% slipped by a penny a share to $4.17. Click Here To Register For Free Trial Services
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Asian markets crept higher on Tuesday (January 21, 2014) as Japanese stocks rebounded and Chinese money rates eased, while the U.S. dollar got a fillip from a report the Federal Reserve would again trim its bond buying next week.
US markets were closed on Monday to observe Martin Luther King Jr. Day.
European stocks inched lower in thin trade on Monday (January 20, 2013), slipping from 5 1/2-year highs as Deutsche Bank’s surprise quarterly loss prompted investors to cash in recent gains on banking stocks. Click Here To Register For Free Trial Services
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THE Straits Times Index (STI) ended 18.54 points, or 0.59 per cent, lower to 3,128.79.
The FTSE ST Mid Cap Index declined 0.20 per cent while the FTSE ST Small Cap Index depreciated by 0.49 per cent.
Of the active stocks, Mirach Energy advanced 19.76 per cent, SingTel lost 0.85 per cent, DBS added 0.06 per cent, Ezra retreated 3.14 per cent and UOB fell 0.54 per cent.
The outperforming sector, FTSE ST Real Estate Investment Trusts, rose 0.13 per cent. Of its two biggest stocks, CapitaMall Trust was unchanged while Ascendas REIT gained 1.40 per cent. Click Here To Register For Free Trial Services
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Stocks ended last week mixed with the Dow Jones Industrial Average DJIA +0.25% rising 0.1% for the week and the Nasdaq Composite Index COMP -0.50% finishing up 0.6%. The S&P 500 Index SPX -0.39% slipped 0.2%. Year-to-date, only the Nasdaq is showing a gain, by about 0.5% Click Here To Register For Free Trial Services
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The Hang Seng Index HK:HSI +0.57% edged up 0.4% to 23,008.26. Mainland banks shined, after China's central bank said it has provided emergency funding support to commercial banks to meet demand for cash ahead of Chinese New Year. Agricultural Bank of China Ltd. HK:1288 +2.06% ACGBF -4.44% rose 2.4%, and both Bank of China Ltd. HK:3988 +1.79% BACHY -1.13% and Industrial & Commercial Bank of China Ltd. HK:1398 +2.30% IDCBF -2.27% gained 2.1%.
Lenovo Group Ltd. HK:992 +3.54% LNVGF -2.26% climbed 3%, after the Chinese personal computer maker said it's in talks for a possible acquisition. News reports said Lenovo is talking to IBM IBM +0.70% about buying its low-end server business. Other technology shares also headed higher, as Tencent Holdings Ltd. HK:700 +0.48% TCTZF +3.13%S&P 500 Stock added 0.8%, and software developer Kingsoft Corp. HK:3888 -1.58% KSFTF +0.30% picked up 0.2%. Market heavyweight HSBC Holdings PLC HK:5 +0.06% HSBC +0.43% slipped 0.1%, after it announced its subsidiary HSBC Bank Middle East Ltd. has agreed to sell its banking business in Jordan to Arab Jordan Investment Bank for an undisclosed amount. On the mainland, the Shanghai Composite Index CN:SHCOMP +0.64% rose 0.2%.
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Platinum for April delivery PLJ4 +2.27% jumped $14.90, or 1%, to $1,469.00 an ounce. Members of South Africa’s Association of Mineworkers and Construction Union (AMCU) over the weekend reportedly voted to strike this Thursday at the world’s top platinum producer, Anglo American Platinum Ltd. ZA:AMS +0.46% , as well as Lonmin PLC UK:LMI +2.88% and Impala Platinum Holdings Ltd. ZA:IMP +2.92% ZA:IMP +2.92% ZA:IMP +2.92% . Click Here To Register For Free Trial Services
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February crude oil CLG4 -0.02% fell 65 cents, or 0.7%, to $93.72 a barrel in electronic trading. Prices on Friday rose 41 cents, or 0.4%, to close at $94.37 a barrel on the New York Mercantile Exchange. In observance of the Martin Luther King Jr. holiday, a energy futures trading paused at 1:15 p.m. Eastern Time, and will reopen at 6 p.m. Eastern. Click Here To Register For Free Trial Services
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The S&P/ASX 200 AU:XJO -0.21% pulled 0.2% lower to 5,297.40, with BlueScope Steel Ltd. AU:BSL -0.52% BLSFF -5.19% down 1.4%, grocer Wesfarmers Ltd. AU:WES -0.53% WFAFF +0.26% off 1%, and energy major Woodside Petroleum Ltd. AU:WPL -0.82% WOPEF -1.10% down 1.5%. However, gains for gold futures late last week pushed Newcrest Mining Ltd. AU:NCM +5.55% NCMGF +1.60% up 4.2% and Kingsgate Consolidated Ltd. AU:KCN +10.38% KSKGF -0.51% 4.7% higher, while shares of uranium extractor Paladin Energy Ltd. AU:PDN +0.89% PALAF +13.06% jumped 12% on news it was selling a 25% in a Nambian mine to a state-owned Chinese firm.
The two largest Sydney-listed miners, BHP Billiton Ltd. AU:BHP +0.29% BHP +0.24% and Rio Tinto Ltd. AU:RIO +0.26% RIO +0.27% , also saw gains, rising 0.6% and 0.7%, respectively. Among the Chinese data due out later in the day were gross domestic product for the fourth quarter, and retail sales and industrial output for December. Click Here To Register For Free Trial Services
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Stocks ended last week mixed with the Dow Jones Industrial Average DJIA +0.25% rising 0.1% for the week and the Nasdaq Composite Index COMP -0.50% finishing up 0.6%. The S&P 500 Index SPX -0.39% slipped 0.2%. Year-to-date, only the Nasdaq is showing a gain, by about 0.5%. Click Here To Register For Free Trial Services
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February crude oil CLG4 -0.27% fell 63 cents, or 0.7%, to $93.74 a barrel in electronic trading. Prices on Friday rose 41 cents, or 0.4%, to close at $94.37 a barrel on the New York Mercantile Exchange.
“Weak industrial production print from China released this morning is weighing on the crude oil prices, “ said ICICI bank’s analysts in a note on Monday. Click Here To Register For Free Trial Services
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The S&P/ASX 200 AU:XJO -0.21% pulled 0.2% lower to 5,297.40, with BlueScope Steel Ltd. AU:BSL -0.52% BLSFF -5.19% down 1.4%, grocer Wesfarmers Ltd. AU:WES -0.53% WFAFF +0.26% off 1%, and energy major Woodside Petroleum Ltd. AU:WPL -0.82% WOPEF -1.10% down 1.5%. However, gains for gold futures late last week pushed Newcrest Mining Ltd. AU:NCM +5.55% NCMGF +1.60% up 4.2% and Kingsgate Consolidated Ltd. AU:KCN +10.38% KSKGF -0.51% 4.7% higher, while shares of uranium extractor Paladin Energy Ltd. AU:PDN +0.89% PALAF +13.06% jumped 12% on news it was selling a 25% in a Nambian mine to a state-owned Chinese firm.
The two largest Sydney-listed miners, BHP Billiton Ltd. AU:BHP +0.29% BHP +0.24% and Rio Tinto Ltd. AU:RIO +0.26% RIO +0.27% , also saw gains, rising 0.6% and 0.7%, respectively. Among the Chinese data due out later in the day were gross domestic product for the fourth quarter, and retail sales and industrial output for December. Click Here To Register For Free Trial Services
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