Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Mixed data sees equity markets lower

Mixed data sees equity markets lower

By Tracey Warren (Stockbroking BDM, CMC Markets Stockbroking)

Mixed economic data kicked off the first full week of trade for the US which saw stocks lower in modest volumes. With a climatic rally to sign off 2013, overbought conditions saw the S&P 500 chalk up a fourth straight month of gains in December. Stumbling out of the gates in 2014, the index has fallen more than one percent in January thus far, to close at 1,826.77 overnight. The Dow Jones Industrial Average also felt some pressure ending the session down 44.89 points at 16,425.10.

Disappointing Chinese data saw the Australian dollar come under some short-lived pressure in the local session suffering a brief fall back to .8935 against the Greenback. China’s service sector growth slowed in December with the HSBC PMI index falling sharply to 50.9 - its lowest read since August 2011.

A modest economic recovery is still the case for the US as weaker than expected US service sector growth numbers saw the EUR and the Yen gain against the Greenback. Factory orders for November painted a rosier picture increasing 1.8 percent on the month.

Shipping delays out of Libya saw oil prices lower with Brent crude futures ending a fifth straight session lower. Spot gold closed marginally higher at US 1241.40 an ounce. The precious metal has rallied three percent in 2014.

Today domestically, International Trade figures will be released for November. Tonight will see Trade balance figures for the US and Canada along with CPI flash estimate figures for the Eurozone. The focus however, will remain on US non-farm employment figures due on Friday.


© Scoop Media

Business Headlines | Sci-Tech Headlines


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news