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GLOBAL MARKETS 10/03

Yatheendradas C.k. at 08:29 AM - Mar 11, 2016 ( ) Views: 320

Asia markets were mixed on Thursday, helped by gains in energy stocks and a surprise interest-rate decisions by New Zealand and South Korea.The Japanese Nikkei  225 closed up 210.15 points, or 1.26%, at 16,852.35. Shanghai  he Shanghai Composite dropping 58.20 points, or 2.03%, to 2,804.35. Hong Kong's  Hang Seng Index finished near flat ie off 11.84 points or 0.06% at 19,984.42. South Korea's Kospi added 16.38 points, or 0.84%, to 1,969.33. Australia's, the S&P ASX 200 finished 7.11 points, or 0.14%, lower at 5,150.07.


European stocks, which surged after the European Central Bank unveiled its stimulus package, reversed gains after President Mario Draghi said he doesn’t anticipate further rate cuts. A sharp turn lower in oil prices also played spoiler in the intraday surge for European equities. The Stoxx Europe 600  dropped 1.66% to close at 333.50.  Germany’s DAX 30  took a big hit, dropping 2.31% to 9,498.15. The U.K’s FTSE 100  was pushed down 1.78% to 6,036.70. The CAC 40  fell 1.70% to 4,350.35 after having jumped as much as 3.5%. Italy’s FTSE MIB slipped 0.50% to 18,118.23.But in Madrid, the IBEX 25 held to a thin gain of 0.07% at 8,766.90.

US stocks finished mostly lower following a turbulent trading day and an announcement of new stimulus from the European Central Bank. Earlier in the session, stocks had been firmly higher, tracking a rally in Europe, fueled by stimulus measures from the ECB.. The Dow Jones Industrial Average  ended down 5.23 points or 0.03% at 16,995.13, The S&P 500  finished barely changed but in positive territory, up 0.31 points or 0.02% to 1,989.57. The Nasdaq Composite finished down 12.22 points, or 0.26%, at 4,662.16.

U.S. oil prices fell on Thursday, as refinery maintenance threatened to raise record inventories of crude and sources said an OPEC meeting on production levels was unlikely without Iran's participation.. April West Texas Intermediate crude shed 45 cents, or 1.18%, to settle at $37.84 a barrel on the New York Mercantile Exchange

May Brent crude on London’s ICE Futures exchange declined $1.02, or 2.22%, to $40.05 a barrel..


Gold futures benefitted from another round of European stimulus measures, which sunk the dollar and spurred safe-haven buying.Gold for April delivery on the Comex division of the New York Mercantile Exchange rose $15.70 or 1.3 percent to $1,273.10 per ounce. Comex silver for May settlement increased 22.4 cents or 1.5 percent $15.590 per ounce.



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