Markets may open flat
29th October 2012 09:18 AM
Indian equities are likely to open flat on Monday, Oct. 29, 2012. SGX Nifty is trading at 5,708.5 (07.33 a.m.), 5.5 points higher than Friday's closeof 5,703.
Most Asian stocks advanced led by resources shares after the U.S. economy expanded more than economists expected. Gains were limited after companies from Kia Motors Corp. to NTT Docomo Inc. disappointed investors. Japanese benchmark index Nikkei 225 rose 17.02 points, or 0.19%, to trade at 8,950.08.
Oil prices have closed higher, lifted by better-than-expected US economic growth in the third quarter and worries about Hurricane Sandy churning toward the heavily populated US east coast. New York's main contract, light sweet crude for December settled at USD 86.28 (USD 83.90) a barrel on Friday, up 23 cents from Thursday's close. Meanwhile, Brent North Sea crude for delivery in December gained USD 1.06 at USD 109.55 a barrel in London trade.
US stocks finished flat on Friday, recovering from moderate declines as bargain hunters rushed in to buy Apple, lifting it off its lows, and scooped up other stocks recently battered by disappointing results. The Dow Jones industrial average edged up 3.53 points, or 0.03%, to close at 13,107.21.
European stocks closed little changed on Friday, as data showed the U.S. economy expanded more than forecast in the third quarter, offsetting concern company earnings are deteriorating. UK's benchmark index FTSE 100 advanced 1.66 points or 0.03%, to end at 5,806.71.
In the spot market, the Dollar Index increased 0.04% to 80.10 (21:54 ET).
World commodity prices fell on Friday with the decrease in Reuters Jefferies CRB Index by 0.30%.
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