Markets may open flat
08th October 2012 09:18 AM
Indian equities are likely to open flat on Monday, Oct. 08, 2012. SGX Nifty is trading at 5,775 (07.26 a.m.), 4 points lower than Friday"s closeof 5,779.
Asian stocks dropped ahead of a meeting by European finance ministers today aimed at easing the region"s debt crisis. Hong Kong"s Hang Seng index declined by 32.85 points, or 0.15%, to trade at 20,979.53.
Oil pricesfellbelow USD91 a barrel Friday despite upbeat non-farm payrolls data in the United States. New York"s main contract, West Texas Intermediate (WTI) or light sweet crude for November, dipped USD 1.40 to USD 90.31 a barrel. Brent North Sea crude for delivery in November retreated 78 cents to USD 111.80 a barrel in late afternoon trade in London.
US stocks rose after better-than-expected ADP hiring data, ISM non-manufacturing reading. The Dow Jones industrial average was up 34.79 points, or 0.26%, to end unofficially at 13,610.15.
European stocks extended gains on Friday after a report showed U.S. payrolls rose by 114,000 and the jobless rate fell to 7.8% in September. UK"s benchmark index FTSE 100 advanced 43.24 points, or 0.74%, to end at 5,871.02.
In the spot market, the Dollar Index increased 0.10% to 79.41 (21:43 ET).
World commodity prices fell on Friday with the decrease in Reuters Jefferies CRB Index by 0.91%.
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