Markets may see flat-to-negative opening
01st November 2012 09:18 AM
Indian equities are likely to open flat on Thursday, Nov. 01, 2012. SGX Nifty is trading at 5,624 (07.27 a.m.), 14 points higher than Wednesday"s closeof 5,639.5.
Asian stocks fell, extending a monthly drop, after Australian manufacturing and U.S business activity contracted and Panasonic Corp. projected a full-year loss. The yen weakened. Japanese benchmark index Nikkei 225 fell 41.66 points, or 0.47%, to trade at 8,886.63.
Oil prices rose Wednesday on concerns about near-term oil supplies in the U.S. following a fierce storm that caused havoc across the northeastern part of the country and was threatening to inflict more damage inland. By early afternoon in Europe, those concerns helped benchmark crude for December delivery rise 65 cents to USD 86.33 a barrel in electronic trading on the New York Mercantile Exchange. In London, Brent crude, used to price many international varieties of oil, was up 38 cents to USD 109.46 a barrel on the ICE Futures exchange.
US stock market slowly returned to life on Wednesday after two days in the dark, in the wake of the massive storm Sandy that caused the market's first weather-related two-day closure since the late 19th century. The Dow Jones industrial average dropped 10.75 points, or 0.08%, to 13,096.46 at the close.
European stocks fell on Wednesday as ArcelorMittal and BG Group Plc reported disappointing results and euro-area governments pressured Greece to increase spending cuts in return for aid. UK's benchmark index FTSE 100 declined 67.20 points, or 1.15%, to end at 5,780.70.
In the spot market, the Dollar Index increased 0.05% to 79.96 (21:47 ET).
World commodity prices gained on Wednesday with the increase in Reuters Jefferies CRB Index by 0.21%.
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