Algorithmic Trading One Line News
automated trader rss feed

Markets Report

Posted:18/11/2008 8:06 by Eric Culp
US shares closed sharply lower with more trouble unfolding for the financial sector on Citibank's announcement it would cut 52k jobs. The Dow and S&P were both off 2.6%. The Nasdaq fell 2.3%. Citi dropped 6.6%. Asian shares took a beating amid news of the Citibank sackings and Australia's largest investment bank Macquarie Group reporting a major decline in profits. The ASX fell 3.5%. The Nikkei dropped 2.3% the day after Japan slipped into recession. The Hang Seng plummeted 5.6%. European equity markets were called mixed following the Asian sell-off. The DAX future was up 0.1%. The CAC future dropped 0.3%. European economic news focuses on the UK today, with CPI and RPI for October due at 0930 GMT. The release of the data will be broadcast live on Need to Know News' Scream Audio. The greenback took a bid amid increased fear the bank sector is still mired in difficulties. EUR/USD was off 0.2%. EUR/JPY was flat. Sterling continued to bounce back following last week's sharp declines following weak economic predictions from BOE Governor Mervyn King. GBP/JPY was up 0.4%. EUR/GBP was off 0.4%. Cable added 0.2%. Bonds moved higher in early trade, with the December 10yr Bund future contract setting a record of 118.90 at the open. It later traded up 7 ticks at 118.81. The 10yr Bund yield was off 3bps to 3.65%. The 2yr Schatz fell 1bp to 2.17%. The 10yr Gilt was down 2bps to 4.09%. The 2yr fell 2bps to 2.07%. The 10yr JGB eased 1bp to 1.49%. The 10yr T-note bucked the trend, rising 1bp to 3.66%. Oil took a bid following the hijacking of Saudi Aramco's Sirus Star supertanker, which is carrying 2m/bbls of crude and approaching the coast of Somalia. WTI was up 1% at $55.52. Brent added $52.67. click here to return to the top of the page
  • Copyright © Algorithmic Media Ltd 2009
http://www.traderslaboratory.com You need to upgrade your Flash Player