Positive Session for Asian Markets, AUD at 7-Week High
October 12, 2015 5:57 am
US Stocks ended the week in positive territory, with the S&P500 having its best week of 2015 so far as the threat of a US rate hike this year fizzled out and investors had their eyes on the Q3 2015 reporting season which gets into full swing this week, with major US Investment banks all reporting their figures. The Dow Jones industrial average rose 33.74 points, or 0.2 percent, to 17,084.49, the S&P 500 gained 1.46 points, or 0.07 percent, to 2,014.89. Asian stocks started the week in the black, spurred on by a rebound in commodity prices with investors picking out the bargain bucket of weaker basic material and industrial stocks.
The Euro climbed 0.1% to $1.1372 having set a three-week high of $1.13875 on Friday. USD was treading water against the yen at 120.21 Yen. The Australian Dollar edged up 0.1% to $0.7341, staying firm after surging 4% last week for its biggest weekly gain since late 2011. On Monday, it hit a fresh seven-week high at $0.7347.
U.S. West Texas crude futures were trading at $49.93 per barrel, up 0.6%. Brent futures were up 0.4% at $52.84 a barrel. Spot Gold was trading at $1165 per troy ounce.
Glencore has begun the process to sell two of its copper mines in Australia and Chile to pay off its mounting debt. The FTSE 100 mining company announced on Monday that it is planning to sell Cobar copper mine and Lomas Bayas copper mine. The announcements come after it received a number of unsolicited expressions of interest for the mines from various potential buyers. The company said potential buyers will bid to purchase either one or both of the mines, but warned a sale is not guaranteed. Glencore stock is up 4% in early trade at 132p per share.
US Stocks ended the week in positive territory, with the S&P500 having its best week of 2015 so far as the threat of a US rate hike this year fizzled out and investors had their eyes on the Q3 2015 reporting season which gets into full swing this week, with major US Investment banks all reporting their figures. The Dow Jones industrial average rose 33.74 points, or 0.2 percent, to 17,084.49, the S&P 500 gained 1.46 points, or 0.07 percent, to 2,014.89. Asian stocks started the week in the black, spurred on by a rebound in commodity prices with investors picking out the bargain bucket of weaker basic material and industrial stocks.
The Euro climbed 0.1% to $1.1372 having set a three-week high of $1.13875 on Friday. USD was treading water against the yen at 120.21 Yen. The Australian Dollar edged up 0.1% to $0.7341, staying firm after surging 4% last week for its biggest weekly gain since late 2011. On Monday, it hit a fresh seven-week high at $0.7347.
U.S. West Texas crude futures were trading at $49.93 per barrel, up 0.6%. Brent futures were up 0.4% at $52.84 a barrel. Spot Gold was trading at $1165 per troy ounce.
Glencore has begun the process to sell two of its copper mines in Australia and Chile to pay off its mounting debt. The FTSE 100 mining company announced on Monday that it is planning to sell Cobar copper mine and Lomas Bayas copper mine. The announcements come after it received a number of unsolicited expressions of interest for the mines from various potential buyers. The company said potential buyers will bid to purchase either one or both of the mines, but warned a sale is not guaranteed. Glencore stock is up 4% in early trade at 132p per share.
Related Posts: