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Last Updated: Jun 21st, 2010 - 12:41:06
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NEW YORK - US stocks rose for a fourth straight day on Friday, led by shares of minerals companies after gold prices settled at another record high.
Gold settled at a record high for a second consecutive day. That lifted shares of mining companies like Barrick Gold and Newmont Mining.
Volume was heavier because of the simultaneous expiry of four kinds of futures and options contracts, which occurs once every quarter.
Trading was relatively quiet considering the options and futures expiries, which can often bring volatility as traders adjust their portfolios.
The Dow Jones Industrial Average closed up 16.47 points, or 0.16 per cent, at 10,450.64 points.
The Standard & Poor's 500 index closed up 1.47 points, or 0.13 per cent, at 1,117.51 points.
The Nasdaq composite index closed up 2.64 points, or 0.11 per cent, at 2,309.80 points.
All three indicators posted solid gains for the week: the Dow advanced 2.3 per cent, the S&P 500 climbed 2.4 per cent and the Nasdaq rose three per cent.
LONDON - European stock markets ended mixed on Friday, with investors more confident about the European outlook after a successful Spanish bond issue and plans to publish the results of bank "stress tests".
Sentiment appeared to be steadying after a roller-coaster few months when share prices lurched lower as the Greek debt crisis unfolded and tainted many of its weaker eurozone peers, chief among them Spain.
The Spanish bond issue on Thursday showed that Madrid could still raise money on the capital markets, albeit at a higher price, while a series of officials lauded Madrid's efforts to put its public finances in order.
The benchmark FTSE 100 index of leading shares closed down 3.05 points, or 0.06 per cent, at 5,250.84 points.
FRANKFURT - The DAX 30 closed down 6.56 points, or 0.11 per cent, at 6,216.98 points.
PARIS - The CAC 40 closed up 4.13 points, or 0.11 per cent, at 3,687.21 points.
TOKYO - Japanese shares edged lower on Friday as easing concerns over the eurozone debt crisis were tempered by renewed caution over the US outlook. Shares also came under pressure from profit-taking while a stronger yen pushed exporters lower. The Nikkei index of the Tokyo Stock Exchange closed down 4.38 points, or 0.04 per cent, at 9,995.02 points.
HONG KONG - Hong Kong shares ended higher on Friday, extending a winning run to eight straight sessions. The benchmark Hang Seng Index closed up 148.31 points, or 0.74 per cent, at 20,286.71 points. Turnover was 55.58 billion Hong Kong dollars ($A8.21 billion).
SHANGHAI - Shanghai closed lower due to liquidity concerns ahead of Agricultural Bank of China's planned blockbuster initial public offering. The Shanghai Composite Index, which covers both A and B shares, ended down 47.02 points, or 1.84 per cent at 2,513.22 points. Turnover was 72.8 billion yuan ($A12.32 billion).
WELLINGTON - The New Zealand share market ended higher on Friday. The benchmark NZX-50 index closed up 1.8 points, or 0.1 per cent, at 3,047.5 points. There were 31 rises and 40 falls among the 109 stocks traded. Turnover was $NZ79 million ($A64.2 million).
SYDNEY - The Australian stock market is expected to open higher on Monday, after a positive finish on Wall Street and firmer oil and gold prices.
At 0733 AEST on the Sydney Futures Exchange, the September share price index futures contract was up six points at 4,566 points, with 2,857 contracts traded.
In economics news on Monday, the Australian Bureau of Statistics publishes international merchandise imports and motor vehicles sales data for May.
Treasury Secretary Ken Henry speaks at the Institute of Chartered Accountants in Australia tax reform conference in Sydney.
In companies news, Sigma Pharmaceuticals Ltd holds its annual general meeting in Melbourne.
Telstra Corporation Ltd chief executive David Thodey and chief financial officer John Stanhope will hold a briefing on the national broadband network at 0830 AEST on Monday.
On Friday, the Australian share market closed higher with big miners and gold stocks pushing the market up on a quiet day of trade.
The benchmark S&P/ASX200 index ended up 24.6 points, or 0.54 per cent, at 4,551.9 points, while the broader All Ordinaries index added 27.1 points, or 0.6 per cent, at 4,574.1 points.
NYMEX
Oil prices ended higher on Friday, supported by a weak US dollar and on the back of expectations that the global economic recovery would not falter.
In addition, prices were supported by a surprise drop in US petrol inventories that suggested strengthening energy demand.
New York's main futures contract, light sweet crude for delivery in July, rose 39 US cents to settle at $US77.18 a barrel.
The July contract expires on June 23. The August contract, which takes over as most-active, rose 22 US cents to settle at $78.26 a barrel.
A weaker US dollar boosts demand for dollar-priced commodities as they become cheaper for buyers holding currencies that rose against the greenback.
London's Brent North Sea crude for August delivery fell 46 US cents to $US78.22 a barrel.
COMEX
Gold for August delivery rose $US9.60 to settle at $US1,258.30 an ounce.
Silver for July delivery rose 40.8 US cents to settle at $US19.184 an ounce, while July copper settled down 2.15 US cents at $US2.884 a pound.
© Copyright 2004 by Merlea Investments
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