(Oil is the June contract on the NY Mercantile Exchange (NYMEX). Gold also is the June contract on the COMEX division of the NY Mercantile Exchange, while Silver is the July contract on the COMEX.)
NEW YORK - US stocks rose marginally on Friday as a lift in energy shares, buoyed by a strong oil price, was offset by data that pegged consumer confidence at a 28 year low.
The Dow Jones industrial average lost 5.86 points to 12,986.80 but the Standard & Poor’s 500 Index added 1.78 points to 1,425.35. The Nasdaq Composite Index shed 4.88 points to 2,528.85.
LONDON - UK stocks rose after electricity producer British Energy said it had recieved takeover approaches and the oil price soared.
The FTSE 100 added 52.5 points to 6,304.3.
FRANKFURT - The DAX index found 75.5 points to 7156.55.
PARIS - The CAC-40 index gained 20.53 points to 5078.04.
TOKYO - Japanese stocks fell on profit taking and a stronger yen.
The Nikkei dropped 32.26 points to 14,219.48.
HONG KONG - Hong Kong stocks rose but early gains were pared after China’s biggest power generator maker, Dongfang Electric, fell on news that the Sichuan earthquake had damaged its production.
The benchmark Hang Seng Index rose 105.15 points to 25,618.86.
WELLINGTON - The NZSX-50 firmed 42.96 points to 3657.2.
SYDNEY - The Australian share market is expected to open higher on a flat lead from Wall Street and higher commodity prices.
On the Sydney Futures exchange at 0741 AEST, the June share price index was up 22 points at 5,975.
Today, the Australian Bureau of Statistics releases merchandise imports data for April.
Hutchison Telecommunications Australia Ltd holds its annual general meeting in Sydney.
The Australian share market on Friday breached 6,000 points for the first time since January, boosted by gains in the resource sector.
The benchmark S&P/ASX200 index firmed 40.3 points to 5,931 and the broader All Ordinaries gained 41.2 points to 6,006.1.
NYMEX
Oil shot to a record high near $US128 a barrel on Friday as a bullish price forecast from investment bank Goldman Sachs drowned out an offer of more supply from OPEC kingpin Saudi Arabia.
US crude settled up $US2.17 at $US126.29 a barrel after touching a peak of $US127.82 earlier in the day. London Brent rose $US2.36 to $124.99.
Oil prices have risen six-fold since 2002 and doubled since last year as rising demand from China and other developing nations clinched spare production capacity, adding pressure on the US economy already hard hit by a housing slump.
LONDON METALS EXCHANGE
Aluminium and zinc prices jumped on Friday amid mounting fears over supplies from China and worries about infrastructure in Sichuan province after the earthquake there last week.
Copper, a popular alternative investment often used as a barometer of underlying economic activity, also rallied on the back of aluminium’s gains and record highs in crude oil fueled by a weak dollar.
Aluminium for three-month delivery on the London Metal Exchange hit a three-week high of $US3,071 a tonne.
LME’s three-month zinc, used for galvanising steel, hit a four-week high of $US2,374.50 a tonne, before closing at $US2,365.
LME copper for delivery in three months was last traded at $US8,420 a tonne, against Thursday’s kerb close of $US8,296.
Tin came within striking distance of $US25,500 a tonne, a record hit on Wednesday as investors bought on expectations of shortages created by supply problems in top producers China and Indonesia.
It closed at $US24,600, down from $US25,250/25,300 on Thursday. Nickel closed at $US26,400 a tonne, up from $US26,305.
Lead closed at $2,345 a tonne, up from $2,275.
COMEX
Gold jumped to its highest level in three weeks above $US900 an ounce on Friday after oil struck another record and the dollar dropped against the euro.
Gold futures for June delivery climbed $US19.90 to $US899.90 an ounce on the Comex division of the New York Mercantile Exchange.
Silver futures for July delivery rose 27.5 US cents to $US16.96 an ounce.
