US stocks rose after two days of declines, with the S&P energy index rising the most among the 11 major S&P sectors.
Friday, 14th June, 2019
China stocks recovered from early losses to end steady on hopes Beijing will roll out further measures to bolster the economy amid a bruising trade war with Washington. The Shanghai Composite Index closed flat at 2,910.74 points, while the blue-chip CSI300 was down slightly to 3,685.39. In Hong Kong, share prices recovered most of its early losses and ended only slightly lower on Thursday amid street protests, thanks to gains in real estate firms and mainland money flows. The benchmark Hang Seng index dropped as much as 1.8 percent before ending 0.1 percent lower at 27,294.71, while the China Enterprises Index ended 0.2 percent lower at 10,472.44, also recovering from earlier losses. Around the region, the MSCI Asia ex-Japan stock index was weaker by 0.36 percent, while Japan's Nikkei index closed down 0.5 percent to 21,032 points.
European stocks ended slightly higher, helped earlier on by gains among mining and metal stocks, even as concerns over the latest Middle East tanker attack continuing U.S.-China trade tensions knocked investor sentiment. The pan-European STOXX 600 index closed 0.16 percent higher, having earlier climbed nearly half a percent aided by surge in telecom and oil stocks.
US stocks rose after two days of declines, with the S&P energy index rising the most among the 11 major S&P sectors. Suspected attacks on two tankers off the coast of Iran have seen oil markets erupt out of their recent slump and kept traders gobbling up ultra-safe government bonds, gold and the Japanese yen. Brent surged as much 4 percent on Thursday after reports of the attacks added to the already-heightened tensions between Iran and the United States. Brent crude futures settled up $US1.34, or 2.23 percent, at $US61.31, having risen as much as 4.5 percent to $US62.64. US West Texas Intermediate crude futures were up $US1.14, or 2.23 percent, at $US52.28 a barrel.
In other parts of the US share market, investors will be looking to what Fed policymakers will say after their next policy meeting on 18-19 June, with Fed Funds rate futures pricing in a 25-basis-point rate cut for the subsequent policy review on 30-31 July. That is completely at odds with the Fed's projection three months ago, when policy makers saw gradual rate hikes in coming years.
Ahead of the local open SPI futures are 9 points higher at 6,555.
|Foreign Equities||Close||Change||% Change|
|Dow Jones (US)||
|FTSE 100 Index||7369||1||0.01|
|Nikkei 225 (Japan)||21032||-98||-0.46|
|Oil - West Texas Crude||/t 3mth||52.3||1.1||2.23|
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.6914||-0.0014||-0.20|
|$A vs GBP||0.5452||-0.0005||-0.10|
|$A vs EUR||0.6131||-0.0004||-0.07|
|$A vs YEN||74.93||
|$A vs NZD||1.0523||-0.0012||-0.11|