Fresh high pushes VIX lower
April 13th, 2010 by Bryden Elssmann
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 11,005.97 | 8.62 | 0.1% |
| NASDAQ | 2,457.87 | 3.82 | 0.2% |
| S P 500 | 1,196.48 | 2.11 | 0.2% |
| FTSE 100 | 5,777.65 | 6.67 | 0.1% |
| Nikkei 225 | 11,251.90 | 47.56 | 0.4% |
| ASX 200 | 4,984.30 | 36.2 | 0.7% |
| COMEX Gold - Dec 09 | 1,162.20 | 0.3 | 0.0% |
| COMEX Silver - Sep 09 | 18.414 | 0.063 | 0.3% |
| COMEX Copper - Sep 09 | 356.45 | -2.55 | -0.7% |
| WTI Spot | 84.26 | -0.68 | -0.8% |
| AUD-USD | 0.9278 | -0.0106 | -1.1% |
| Aluminium | 2,381.00 | 23.5 | 1.0% |
| Copper | 7,915.00 | 19 | 0.2% |
| Lead | 2,315.00 | 35 | 1.5% |
| Nickel | 25,580.00 | 380 | 1.5% |
| Tin | 18,695.00 | 90 | 0.5% |
| Zinc | 2,380.50 | 24.5 | 1.0% |
This week has seen the unofficial launch of the first-quarter earnings season, with aluminium giant Alcoa Inc. reporting after the close. By the end of the week the market should have a reasonable idea of whether investor’s high expectations for terrific gains have not already been reflected in recent gains over the past eight weeks.
The Dow managed to close above 11,000 after some late-session turbulence, up 8 points or 0.1 percent, to close at 11,005.97. This is the first time it has closed above that level since September 2008. The market’s recent rally has pushed the CBOE volatility index to a near two-year low below 16.
European nations have reached an agreement to provide up to 40 billion Euro in aid to debt ridden Greece should the need arise.
The Aussie market is expected to open slightly higher following a mildly positive offshore lead from Wall Street. The SPI Futures are currently down 15 points to 4992.
Newcrest Mining
Newcrest Mining Limited NCM has announced board approval for the Cadia East Underground development. This follows NSW Government approval which was granted in January 2010. The project is expected to increase NCM’s overall annual gold production 40% to 2.3moz by 2014. Goldman Sachs are maintaining a BUY rating on the company regardless of the outcome of the current bid for LGL. NCM announced yesterday that it believes its merger proposal for LGL is both “full and fair” saying it is willing to discuss the proposal further with Lihir. Currently, NCM is offering one of its shares for every nine Lihir shares plus 22.5 cents cash per Lihir share, less any interim dividend.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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