Miners lift UK’S FTSE 100 on supply disruption concerns
UK’s main stock index was lifted by mining shares on Thursday, as a few major metal producers threatened to disrupt supply against a backdrop of global recession fears, while Primark owner Associated British Foods tumbled on dour profit forecast. The commodity-heavy FTSE 100 edged 0.3 percent higher, while the more domestically focused mid-FTSE 250 was up 0.5 percent, as of 0709 GMT. The mining sector climbed 1.5 percent, tracking firm copper prices on concerns of potential disruptions in major producer-countries. The rate-sensitive banking sector advanced 0.4 percent, after dropping more than 2 percent in the previous session. The pan-European STOXX 600 climbed 0.5 percent in early trading, with focus squarely on a rate decision by the European Central Bank due around 1215 GMT. The ECB’s choice will be between a 50 and 75 basis point increase in the zero-percent deposit rate, with trader expectations leaning towards a bigger increase but not with full conviction. Cineworld Group filed for bankruptcy protection in the United States, sending its shares down 6.8 percent as the movie chain operator struggles to restructure debt. Associated British Foods slid 8.3 percent after the company flagged lower profit for next year, as its Primark fashion business struggled with rising costs and inflation.
Sensex, Nifty jump to recover from two straight sessions of losses
Indian equity benchmarks opened in the green on Thursday, tracking a recovery in a broader Asian stocks gauge from the lowest since the pandemic-led mayhem but trailed the rally on Wall Street as oil prices steadied at levels not seen since before Russia’s invasion of Ukraine. The BSE Sensex index jumped 550.73 points to 59, 579.64 in early trade, and the broader Nifty index rose 156.1 points to 17,780.50. On Wednesday, both equity benchmarks fell for the second straight session, driven by a sell-off in global stocks and commodities.
Hong Kong: stocks close on a strong note
Hong Kong stocks ended a tough week with a healthy advance on Friday (Sep 9), joining gains across world markets as investors went bargain-buying following 6 days of losses. The Hang Seng Index climbed 2.69 percent, or 507.63 points, to 19,362.25. The Shanghai Composite Index added 0.82 percent, or 26.47 points, to 3,262.05; while the Shenzhen Composite Index on China’s second exchange gained 0.65 percent, or 13.72 points, to 2,118.11.
Japan stocks higher at close of trade
Japan stocks were higher after the close on Friday, as gains in the Power, Transportation Equipment and Precision Instruments sectors led shares higher. At the close in Tokyo, the Nikkei 225 rose 0.53 percent. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 2297 to 1172 and 311 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 4.02 percent to 20.06. Crude oil for October delivery was up 0.74 percent or 0.62 to $84.16 a barrel. Elsewhere in commodities trading, Brent oil for delivery in November rose 0.86 percent or 0.77 to hit $89.92 a barrel, while the December Gold Futures contract rose 1.00 percent or 17.20 to trade at $1,737.40 a troy ounce. USD/JPY was down 1.22 percent to 142.34, while EUR/JPY fell 0.21 percent to 143.73. The US Dollar Index Futures was down 1.05 percent at 108.56.
CAC 40 up 0.33pc
France stocks were higher after the close on Thursday, as gains in the Utilities, Basic Materials and Consumer Goods sectors led shares higher. At the close in Paris, the CAC 40 added 0.33 percent, while the SBF 120 index climbed 0.31 percent. Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 289 to 247 and 92 ended unchanged. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was unchanged 0.00 percent to 18.96 a new 52-week high. Gold Futures for December delivery was down 0.63 percent or 10.80 to $1,717.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in October rose 1.98 percent or 1.62 to hit $83.56 a barrel, while the November Brent oil contract rose 1.20 percent or 1.06 to trade at $89.06 a barrel. EUR/USD was unchanged 0.30 percent to 1.00, while EUR/GBP unchanged 0.12 percent to 0.87. The US Dollar Index Futures was up 0.05 percent at 109.89.
U.S. stocks higher at close of trade
U.S. stocks were higher after the close on Thursday, as gains in the Healthcare, Financials and Basic Materials sectors led shares higher. At the close in NYSE, the Dow Jones Industrial Average added 0.61 percent, while the S&P 500 index added 0.66 percent, and the NASDAQ Composite index gained 0.60 percent. Rising stocks outnumbered declining ones on the New York Stock Exchange by 1761 to 1332 and 132 ended unchanged; on the Nasdaq Stock Exchange, 2272 rose and 1499 declined, while 247 ended unchanged. Shares in Ensysce Biosciences Inc fell to all time lows; falling 17.71 percent or 0.07 to 0.33.
Saudi Arabia stocks lower at close of trade
Saudi Arabia stocks were lower after the close on Thursday, as losses in the Petrochemicals, Energy & Utilities and Financial Services sectors led shares lower. At the close in Saudi Arabia, the Tadawul All Share lost 0.25 percent to hit a new 1-month low. Rising stocks outnumbered declining ones on the Saudi Arabia Stock Exchange by 139 to 89 and 21 ended unchanged. Crude oil for October delivery was up 1.57 percent or 1.29 to $83.23 a barrel. Elsewhere in commodities trading, Brent oil for delivery in November rose 0.95 percent or 0.84 to hit $88.84 a barrel, while the December Gold Futures contract fell 0.60 percent or 10.45 to trade at $1,717.35 a troy ounce. EUR/SAR was down 0.48 percent to 3.74, while USD/SAR unchanged 0.02 percent to 3.76. The US Dollar Index Futures was up 0.19 percent at 110.04.