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Asian shares post mixed results, Oil edges up.

News Date: 24/11/2015 01:01:22
Update Date: 24/11/2015 01:30:45
 

Asian shares posted mixed results on Tuesday, with Japan's Nikkei, coming from a national holiday yesterday, gaining 0.24% to 19,926. China's index CSI300 for the biggest listed companies in Shanghai and Shenzhen lost 1.02%. Australia's S&P\ASX 200 index gave up 0.95%, while Korea's KOSPI hit a two-week high at 2,012 with a 0.43% profit. India's Nifty was flat at 7,849.

 

Oil prices were given heart after Saudi Arabia's commitment to talking to other producers in order to stabilize the prices, with U.S. crude futures up 23 cents, or 0.54% to $41.98 a barrel. Brent futures for January gained 4 cents, or 0.11% to $45.02 a barrel.

 

Dollar slipped away from its recent highs, with its index down 0.03% to 99.81. Dollar lost a modest 0.07% against Sterling to 1.5135. It lost 0.08% against yen to 122.75.

 

Euro was still pressured downside by the prospect of more easing by the ECB next week, with its index easing down 0.10% to 85.68. Euro was back near a 7-month low against the dollar at 1.0625 with a 0.10% loss. It gave up 0.18% against yen to 130.43, while edging down barely against sterling to 0.7021.

 

Wall Street closed down on Monday, despite the biggest acquisition in pharmaceutical history having been announced between Pfizer and Allergan in a $160 billion deal. Dow Jones ended down 31 points, or 0.17% to 17,792. NASDAQ lost 2.4 points, or 0.05% to 5,102. S&P 500 gave up 2.5 points, or 0.12% to 2,086.

 

Gold futures are up 4 dollars, or 0.37% to $1,070.70 an ounce, while silver futures climbed 7 cents, or 0.52% to $14.10 an ounce.

 

From Germany, Ifo Business Climate index for November is forecast at 108.3, barely up than October's 108.2. This survey is wildly followed because of its large sample and thus it tends to have a large impact on markets, the higher the results is, the more indicative it is of improving business conditions, which could push the Euro higher.

 

From the United States, Preliminary annual GDP growth for third quarter is forecast at 2.0%, better than an advance estimate of the growth of 1.5%. Matching or beating the forecast will raise the rate-hike bets even more and could push the dollar higher.         

 

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