Brent Oil Futures Still Near Friday’s 6-Week High, Standard Chartered Attempts a Turnaround Plan
February 9, 2015 8:00 am
Wall Street stocks fell on Friday as a better-than-expected U.S. jobs report raised expectations that the Federal Reserve will increase interest rates by midyear, while renewed worries over Greece’s debt negotiations added to the bearish tone. The Dow fell by 60 points to close at 17,824 for the week, the S&P500 lost 7 points to finish the week at 2,055.
Asian shares wobbled on Monday after dismal Chinese trade figures fuelled concern over a slowdown in the world’s second largest economy, while solid U.S. jobs data were a mixed blessing as they raised chances of a U.S. interest rates hike mid-year. China’s trade performance slumped in January, with exports falling 3.3% from year-ago levels while imports tumbled 19.9%, far worse than analysts had expected and highlighting deepening weakness in the Chinese economy
The Euro traded at $1.1335, up slightly in Asia but still not far from last week’s low of $1.1280. The Yen hit four-week lows of 119.23 to the Dollar on Friday on the back of rising U.S. bond yields. It last stood at 118.82. The Australian Dollar, often used as a proxy for bets on the Chinese economy because of the country’s trade links to China, fell 0.4 percent in early trade to $0.7775.
Brent oil futures gained 0.3% to $57.99 per barrel, clinging on near a six-week high of $59.06 touched on Friday. Gold rebounded slightly from a three-week low of $1,228.50 touched on Friday as share prices eased. It last stood at $1,237.54 per ounce.
Standard Chartered start the week near the bottom of the FTSE 100 after the firm will shift its retail bank’s focus from mass market to affluent customers and urge more customers online as part of a broader turnaround strategy for the lender. The stock was down 2% in early trade at 920p per share.
Wall Street stocks fell on Friday as a better-than-expected U.S. jobs report raised expectations that the Federal Reserve will increase interest rates by midyear, while renewed worries over Greece’s debt negotiations added to the bearish tone. The Dow fell by 60 points to close at 17,824 for the week, the S&P500 lost 7 points to finish the week at 2,055.
Asian shares wobbled on Monday after dismal Chinese trade figures fuelled concern over a slowdown in the world’s second largest economy, while solid U.S. jobs data were a mixed blessing as they raised chances of a U.S. interest rates hike mid-year. China’s trade performance slumped in January, with exports falling 3.3% from year-ago levels while imports tumbled 19.9%, far worse than analysts had expected and highlighting deepening weakness in the Chinese economy
The Euro traded at $1.1335, up slightly in Asia but still not far from last week’s low of $1.1280. The Yen hit four-week lows of 119.23 to the Dollar on Friday on the back of rising U.S. bond yields. It last stood at 118.82. The Australian Dollar, often used as a proxy for bets on the Chinese economy because of the country’s trade links to China, fell 0.4 percent in early trade to $0.7775.
Brent oil futures gained 0.3% to $57.99 per barrel, clinging on near a six-week high of $59.06 touched on Friday. Gold rebounded slightly from a three-week low of $1,228.50 touched on Friday as share prices eased. It last stood at $1,237.54 per ounce.
Standard Chartered start the week near the bottom of the FTSE 100 after the firm will shift its retail bank’s focus from mass market to affluent customers and urge more customers online as part of a broader turnaround strategy for the lender. The stock was down 2% in early trade at 920p per share.
Related Posts: