OPEC Monthly Report Due Today, easyJet Reports Profit for First Half of Year
May 12, 2015 6:26 am
Asian stocks were mostly lower and the Euro sagged on Tuesday as progress on talks between debt-strapped Greece and its creditors kept investors edgy. Wall Street closed lower on Monday as investors fretted about Greece’s precarious financial condition and slowing growth in China, while energy stocks fell on weaker oil prices. The Dow fell 85 points to close at 18,105, the S&P500 lost 10 points to close at 2,105.
The Euro was down 0.2% at $1.1183; the common currency had previously surged to a two-month high of $1.1392 on Thursday when markets were focused on improving prospects for the European economy and surging Euro zone bond yields. The Dollar was little changed at 120.19 Yen after climbing modestly overnight as U.S. Treasury yields rose ahead of the $64bn new debt supply hitting the market this week. The New Zealand Dollar hovered near a two-month low of $0.7328 . Increasing speculation that the country’s central bank will finally cut rates has recently pummelled the Kiwi.
In commodities, U.S. crude, which hit a five-month high of $62.58 last week on a weakening in the Dollar, lost 2 cents to $59.23 a barrel, on concerns about overabundant supply. Oil could suffer more losses if the Organization of the Petroleum Exporting Countries monthly report due later in the day shows a further rise in production.
British low cost airline easyJet said it was positioned to continue to grow in this financial year, after swinging to a profit in its seasonally weaker first-half. However, the stock is down 8% in early trade at 1678p per share.
Asian stocks were mostly lower and the Euro sagged on Tuesday as progress on talks between debt-strapped Greece and its creditors kept investors edgy. Wall Street closed lower on Monday as investors fretted about Greece’s precarious financial condition and slowing growth in China, while energy stocks fell on weaker oil prices. The Dow fell 85 points to close at 18,105, the S&P500 lost 10 points to close at 2,105.
The Euro was down 0.2% at $1.1183; the common currency had previously surged to a two-month high of $1.1392 on Thursday when markets were focused on improving prospects for the European economy and surging Euro zone bond yields. The Dollar was little changed at 120.19 Yen after climbing modestly overnight as U.S. Treasury yields rose ahead of the $64bn new debt supply hitting the market this week. The New Zealand Dollar hovered near a two-month low of $0.7328 . Increasing speculation that the country’s central bank will finally cut rates has recently pummelled the Kiwi.
In commodities, U.S. crude, which hit a five-month high of $62.58 last week on a weakening in the Dollar, lost 2 cents to $59.23 a barrel, on concerns about overabundant supply. Oil could suffer more losses if the Organization of the Petroleum Exporting Countries monthly report due later in the day shows a further rise in production.
British low cost airline easyJet said it was positioned to continue to grow in this financial year, after swinging to a profit in its seasonally weaker first-half. However, the stock is down 8% in early trade at 1678p per share.
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