OVERNIGHT UPDATE USA: U.S. stocks finished with slight gains on Friday, lifting the Dow to a fifth weekly gain, after Wall St dug through earnings reports that included a steep profit drop for Expedia and a better-than-expected profit from Starbucks Corp. Treasury prices clung to slight gains on Friday after the release of positive consumer sentiment data. University of Michigan’s sentiment index notched a 85.1 in July (vs exp 84.0), marking a six-year high in the gauge of consumer confidence. The U.S. dollar came off one-months lows against the euro and the British pound Friday. Gold prices traded near flat, with the yellow metal finished a volatile week with gains. Copper prices took another sharp leg lower as China worries continued to plague investors. Oil futures closed at a two-week low Friday as they suffered their first weekly loss in five weeks amid concerns about a slowdown in Chinese growth. New York: BHP down 0.40%. Rio down 0.55% EUROPE: The FTSE fell on Friday as gains at publishing giant Pearson and Anglo American failed to offset losses at Rolls-Royce, Royal Bank of Scotland and BSkyB. U.K. banks, got a slight boost. Analysts at Credit Suisse upgraded the sector to overweight from benchmark, citing “clear signs” of macro improvement in the euro area and attractive valuations. Europe’s main stock market closed the week with a slight loss after a choppy session Friday as investors grew cautious ahead of next week’s Federal Reserve meeting. London: BHP up 0.10%. Rio up 0.15%.
Posted on: Sun, 28 Jul 2013 23:03:35 +0000
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