Global markets subdued on lacklustre economic data
Published on Thu, Feb 23, 2012 at 07:57 | Source : CNBC-TV18
Updated at Thu, Feb 23, 2012 at 08:59
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Global markets subdued on lacklustre economic data
US existing home sales went up 4.3% month-on-month to an annualized 4.57 million versus 4.38 million in December, but that was below consensus expectations.
**Global markets subdued; lacklustre economic data weighed
US existing home sales went up 4.3% month-on-month to an annualized 4.57 million versus 4.38 million in December, but that was below consensus expectations
Eurozone February PMI's disappointed the street: Composite was down to 49.7 from 50.4 in January
Manufacturing largely was flat MoM at 49 versus 48.8; services went down to 49.4 from 50.4 MoM
US markets closed moderately lower on Wednesday: Dow Jones was down 0.2% at 12,939; S&P 500 Index fell 0.3% to 1,357.7; Nasdaq Composite was down 0.5%
European markets too closed lower on Wednesday: DAX was down 1%; CAC slipped 0.5%; FTSE fell 0.2%.
Fitch cuts Greece rating to C from CCC; Greece will be put on restrictive default rating soon
Asia today
Kospi was down 1.2% and Hang Seng declined 1%
Straits Times dropped 0.8%.
Taiwan was down 0.5% and Nikkei down 0.2%
Currencies
Euro was holding above 1.32 to the dollar
Dollar Index was at 79.2
Commodities
Commodities saw mild profit booking today; Yesterday CRB Index rose 0.1%
Brent crude saw USD 123/barrel intraday yesterday and settled just below the same level
WTI crude settled above USD 106/barrel yesterday; it was down 0.5% today
Gold saw 3-month high of USD 1781/ounce on Wednesday
Copper was subdued post economic data; it was down 0.3% today
