Yesterday the S&P/ASX 200 closed at 4,807.90, higher by 40 points. The Aussie market had a mixed lead in from overseas and has opened down by about 10 points this morning.
The news that’s bound to make the market jittery this week is the European Commission’s proposal for a European style International Monetary Fund (IMF). The purpose of the European Monetary Fund or ‘EMF’ is to rescue countries that have landed themselves in massive debt.
The Dow Jones Industrial Average was down by 13 points, to 10,552.52. It was an ordinary trading session for the Dow.
There was good news for share holders of Cisco Systems [NASDAQ: CSCO] which added 3.65% after JPMorgan upgraded Cisco, suggesting that their future earnings and outlook looked strong. While not a component of the Dow, the makers of the BlackBerry®, Research In Motion [NASDAQ: RIMM], jumped 5.6% after an analysts upgrade for the company.
In the UK, the FTSE added a tiny 6 points overnight, closing to 5,606.72. The UK market had a quiet trading session, and it appears investors were taking a breather after a strong finish last week. Overall, the Footsie is up 200 points since Tuesday last week.
The Nikkei was up 216 points (2.09%) to end the session at 10,585.92.
The price of spot gold in Australian dollars is trading at $1,236.87 while in US Dollars it is trading at $1,124.42. The price of silver in Aussie dollars is $18.98 and in US Dollars it is $17.24.
The Aussie dollar versus the US dollar is USD$0.9092, against the Japanese Yen JPY82.09
Crude Oil closed at USD$81.75.
For the biggest movers on the market yesterday click here…
That’s all I have for you today, see you tomorrow.
Shae.
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