US Markets Close Higher....
April 23rd, 2010 by Bryden Elssmann
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 11,134.29 | 9.37 | 0.1% |
| NASDAQ | 2,519.07 | 14.46 | 0.6% |
| S P 500 | 1,208.67 | 2.74 | 0.2% |
| FTSE 100 | 5,665.33 | -58.1 | -1.0% |
| Nikkei 225 | 10,949.09 | -140.96 | -1.3% |
| ASX 200 | 4,907.40 | -46.9 | -1.0% |
| COMEX Gold - Dec 09 | 1,140.00 | -8.8 | -0.8% |
| COMEX Silver - Sep 09 | 18.009 | -0.069 | -0.4% |
| COMEX Copper - Sep 09 | 348.7 | -4.8 | -1.4% |
| WTI Spot | 83.67 | 0.29 | 0.3% |
| AUD-USD | 0.9274 | 0.0003 | 0.0% |
| Aluminium | 2,326.50 | -57.5 | -2.4% |
| Copper | 7,666.00 | -121 | -1.6% |
| Lead | 2,295.00 | 31 | 1.4% |
| Nickel | 26,425.00 | -885 | -3.2% |
| Tin | 18,935.00 | -185 | -1.0% |
| Zinc | 2,383.50 | -6 | -0.3% |
The Australian share market looks to be in for a flat start this morning following mixed offshore leads. US stocks managed to close higher. Oil prices rose slightly. European and Asian markets were lower on Thursday with precious and base metals also weaker. A late rally on Wall St helped push US stocks into the black on Thursday, thanks to strong company earnings from Starbucks, which helped to outweigh new concerns for Greece’s financial situation and weaker commodity prices. The fading confidence in Greece’s ability to repair its public finances means a Greek aid request is more a matter of when, not if the government will ask for help.
Earlier this month the Euro-zone governments agreed to give Greece up to EUR30 billion in loans in the first year of any bailout plan with the IMF expected to contribute EUR15 billion.
BHP Billiton Ltd
The investigation into the miner’s alleged corrupt dealings with government officials in Cambodia has widened after reports that British regulators are now involved. BHP has apparently uncovered emails between managers in Cambodia, and potentially other countries, and government officials relating to tenements the company has now left. It is being said that BHP paid ‘tea money’ to government officials to obtain the rights to a bauxite deposit in Cambodia. The investigation has CEO Marius Kloppers worried. A Fairfax reports says Mr Kloppers has sent an email to staff expressing great concern at the alleged ‘tea money’ scandal, reminding his employees that working with integrity is critical to BHP’s success. BHP earned $7.2 billion in the 2009 financial year.
“Buy the dips”, any pullback in the Australian market, toward 4700 – 4800 would be healthy and potentially provide a launch pad for our markets next leg up to 5200.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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