Scoop  Business

IG Markets – Morning Prices 11 October 2010

IG Markets – Morning Prices

11 October 2010

On Wall Street on Friday, US markets all gained, with the Dow Jones Industrial Average closing above the 11,000 point level for the first time since May. A weaker-than-expected nonfarm payrolls number spurred speculation that the Federal Reserve will step in with more Quantitative Easing to help spur growth.

The technology laden NASDAQ was the top performer, rising 0.8% while the S&P 500 and Dow Jones Industrial Average gained 0.6% and 0.5% respectively.

The domestic ASX 200 is called to open 04% higher at 4699 following the stronger US leads.

We’re likely to see the materials sector as the major outperformer today after the basic materials sector in the US led the market higher, rising 2%. Base metal leads from the London Metals Exchange were all solid too, rising between 1% and 2.8% while Rio Tinto and BHP Billiton both gained 1.8% in normal UK trade. BHP Billiton’s ADR is calling the locally listed stock 0.6% higher at $41.23.

Elsewhere, energy names are likely to have a good day after the US energy sector gained 1.3% after Crude Oil futures added 1.3% to be trading at US$82.84. Consumer discretionary and industrial names should be relatively well bid too after their respective sectors overseas outperformed.

In summary, it looks like the local market will start the new week on the front foot. Domestic data flow is relatively light for the week so participants will be focused on what’s happening with the US Q3 earnings season as well as a heavy US data load.

Market Price at 8:00am AEST Change Since Australian Market Close Percentage Change
AUD/USD 0.9892 0.0056 0.57%
ASX (cash) 4699 17 0.37%
US DOW (cash) 11000 20 0.18%
US S&P (cash) 1164.4 3 0.23%
UK FTSE (cash) 5667 1 0.02%
German DAX (cash) 6295 16 0.26%
Japan 225 (cash) 9614 -21 -0.22%
Rio Tinto Plc (London) 39.36 0.71 1.84%
BHP Billiton Plc (London) 21.61 0.38 1.79%
BHP Billiton Ltd. ADR (US) (AUD) 41.23 0.23 0.56%
US Light Crude Oil (Nov) 82.84 1.05 1.28%
Gold (spot) 1345.1 10.3 0.77%
Aluminium (London) 2416 66 2.81%
Copper (London) 8279 139 1.71%
Nickel (London) 24379 244 1.01%
Zinc (London) 2294 29 1.28%
RBA Cash Rate to be raised by 25bp (Nov) (%) 55.00 -8 -8.00%

IG Markets provides round-the-clock CFD trading on currencies, indices and commodities. The levels quoted in this email are the latest tradeable price for each market. The net change for each market is referenced from the corresponding tradeable level at yesterday’s close of the ASX. These levels are specifically tailored for the Australian trader and take into account the 24hr nature of global markets.
ENDS


Discover more about CFD trading with IG Markets, the world’s No.1 CFD provider*.

© Scoop Media

 

Business Headlines | Sci-Tech Headlines