Asian Indices Make Slight Gains as Investors Regroup After PBOC Actions
August 13, 2015 6:24 am
US Stocks pulled back from negative territory to finish flat, taking their cue from the energy sector and a rebound in Apple shares and the cooling fears of a slowdown in China. Asia continued the theme by posting gains, taking heart from Wall Street and the measures of the Chinese Central bank to slow the collapse of the Yuan. The Dow finished at 17,402, the S&P500 gained 1 points to close at 2,085.
The Euro was steady at $1.1154, after scaling a one-month peak of $1.1215 on Wednesday, helped by the unwinding of Euro-funded carry trades in the Yuan and other emerging market currencies. Against the Yen, the Dollar was about 0.1 percent higher at 124.35.
Gold was off 0.2% at $1,122.20 an ounce after logging its fifth straight session of gains. Three month copper on the London Metal Exchange fell about 0.8% to $5,145.50 a tonne, moving back toward the previous session’s six-year low. Crude oil gained overnight on lower U.S. crude stockpiles, but remained not far from six-year lows hit this week on fears that China’s weaker currency would hit imports. U.S. crude was down about 0.1% at $43.28 a barrel, while Brent added about 0.2% to $49.75.
Anglo German travel giant Tui Group grew revenues 6.4% and underlying operating profits by 18.6% in the third quarter, also tightening its full year profit growth guidance to 12.5-15%. The terrorist attack on tourists in Tunisia at the end of June resulted in repatriation and cancellation costs of around €10m in the quarter. The stock is up 6% in early trade at 1529p per share.
US Stocks pulled back from negative territory to finish flat, taking their cue from the energy sector and a rebound in Apple shares and the cooling fears of a slowdown in China. Asia continued the theme by posting gains, taking heart from Wall Street and the measures of the Chinese Central bank to slow the collapse of the Yuan. The Dow finished at 17,402, the S&P500 gained 1 points to close at 2,085.
The Euro was steady at $1.1154, after scaling a one-month peak of $1.1215 on Wednesday, helped by the unwinding of Euro-funded carry trades in the Yuan and other emerging market currencies. Against the Yen, the Dollar was about 0.1 percent higher at 124.35.
Gold was off 0.2% at $1,122.20 an ounce after logging its fifth straight session of gains. Three month copper on the London Metal Exchange fell about 0.8% to $5,145.50 a tonne, moving back toward the previous session’s six-year low. Crude oil gained overnight on lower U.S. crude stockpiles, but remained not far from six-year lows hit this week on fears that China’s weaker currency would hit imports. U.S. crude was down about 0.1% at $43.28 a barrel, while Brent added about 0.2% to $49.75.
Anglo German travel giant Tui Group grew revenues 6.4% and underlying operating profits by 18.6% in the third quarter, also tightening its full year profit growth guidance to 12.5-15%. The terrorist attack on tourists in Tunisia at the end of June resulted in repatriation and cancellation costs of around €10m in the quarter. The stock is up 6% in early trade at 1529p per share.
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