Indian equities are likely to open negative on Wednesday, Sept.
05, 2012. SGX Nifty is trading at 5,274 (07.13 a.m.), 27.5
pointslower than Tuesday of 5,301.5.
Asian stocks fell as U.S. manufacturing contracted for a third
month, adding to signs the world"s biggest economy is slowing.
Japanese benchmark index Nikkei 225 fell 34.75 points, or 0.40%, to
trade at 8,740.76.
The price of oil crept up closer to USD 97 a barrel on Tuesday
on expectations that the European Central Bank will soon announce
new measures to fight the continent"s debt crisis. By early
afternoon in Europe, benchmark crude for October delivery was up 47
cents to USD 96.94 a barrel in electronic trading on the New York
Mercantile Exchange. In London, Brent crude was up USD 1.72 at USD
116.29 on the ICE Futures exchange.
US stocks closed slightly lower on Tuesday as investors
continued to await clarity on European Central Bank plans to shore
up heavily indebted countries, but the market ended off its lows on
a rally in Apple Inc (AAPL). The Dow Jones industrial average ended
down 54.90 points, or 0.42%, at 13,035.94.
European stocks retreated the most in two weeks as a report
showed that U.S. manufacturing unexpectedly contracted in August.
UK"s benchmark index FTSE 100 declined 86.40 points, or 1.50%, to
end at 5,670.01.
In the spot market, the Dollar Index increased 0.24% to 81.50
World commodity prices fell on Tuesday with the decrease in
Reuters Jefferies CRB Index by 0.25%.