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Posted on 09 June 2009 by Alex

  1. NEW YORK - Stocks reversed steep losses in the final hour of trading on Wall Streeet overnight to end little changed. The Dow Jones Industrial average recovered from a 130-point slide earlier.
    Falling commodities prices had spooked investors earlier, but prices for key industrial materials closed off their lows for the day.
    The Dow gained 1.36 points, or 0.02 per cent, to settle at 8,764.49. The Standard & Poor’s 500 index fell 0.95, or 0.1 per cent, to 939.14, and the Nasdaq declined 7.02, or 0.38 per cent, at 1,842.4.

    LONDON - Europe’s main stock markets slid in cautious trading, with London dragged down by the banking sector and worries over British Prime Minister Gordon Brown battling to stay in power.
    London’s FTSE 100 index of leading shares closed down 33.34 points, or 0.75 per cent, at 4,405.22.

    FRANKFURT - Germany’s DAX declined 72.31 points, or 1.42 per cent, to 5,004.72.

    PARIS - The CAC 40 index fell 49.39 points, or 1.48 per cent, to 3,289.66.

    TOKYO - Japanese share prices rose one per cent on a weaker yen and as investors shrugged off data that showed Japan’s current account surplus for April more than halved from a year earlier.
    The benchmark Nikkei-225 index rose 97.62 points to 9,865.63.

    HONG KONG - Hong Kong share prices closed 2.28 per cent lower, with investors taking profits amid worries about a possible rise in interest rates in the United States.
    The benchmark Hang Seng Index closed down 426.14 points at 18,253.39.

    WELLINGTON - The New Zealand sharemarket slipped in trading reduced by a holiday in Australia.
    The benchmark NZSX-50 index closed down 17.89 points, or 0.63 per cent, at 2816.62.

    SYDNEY - Australian shares are expected to open lower after commodity prices including gold, copper, and oil declined in overnight trading.
    At 0704 AEST on the Sydney Futures Exchange, the June share price index contract was 18 points lower at 3,940.
    In economic news, ANZ releases its job advertisements survey for May.
    National Australia Bank releases its business survey for May, and the Melbourne Institute releases its Employment Report for June.
    Early on Tuesday, Dun & Bradstreet released its business expectations survey for June.
    On Friday, the Australian share market closed higher, boosted by big jumps in the share prices of global miners BHP Billiton and Rio Tinto.
    The two mining giants announced a massive iron ore joint-venture in Western Australia, and Rio launched a $US15.2 billion ($A18.96 billion) rights issue as it scrapped its proposed $US19.5 billion ($A24.32 billion) investment deal with Aluminum Corporation of China (Chinalco).
    The benchmark S&P/ASX200 index rose 36.6 points, or 0.93 per cent, to 3971.2, while the broader All Ordinaries index lifted 36.5 points, or 0.93 per cent, to 3969.0 points.

    NYMEX

    Oil prices fell as a four-month rally that has roughly doubled the price of crude lost some steam alongside the stock markets.
    Benchmark crude for July delivery fell 35 cents to settle at $US68.09 a barrel on the New York Mercantile Exchange. Prices dropped as low as $US66.78.
    Crude prices have risen in tandem with stocks as gloom about the global economy eases. Oil briefly broke the $US70 threshold on Friday after the US Labor Department reported that employers cut 345,000 jobs in May, the fewest since September.
    The unemployment rate still hit 9.4 per cent in May, a 25-year high, and few people believe that there is enough demand to justify the soaring price of crude.
    In other Nymex trading, gasoline for July delivery fell 1.85 cents to settle at $US1.936, while heating oil fell less than a penny to settle at $US1.7679.
    Natural gas for July delivery fell 13.7 cents to settle at $US3.731 per 1,000 cubic feet
    In London, Brent prices fell 46 cents to settle at $US67.88 a barrel on the ICE Futures exchange.

    COMEX

    Gold slid to its lowest in almost two weeks as the dollar gained, reducing the appeal of precious metals as an alternative investment. Silver also declined.
    Gold futures for July delivery dropped $US10.10 to $US952.50 an ounce on the New York Mercantile Exchanges Comex division. Earlier, the price touched $943.80, the lowest for a most-active contract since May 26.
    Silver futures for July delivery fell 43.3 cents to $US14.955 an ounce in New York. The metal still has gained 32 per cent this year, while gold still is up 7.7 per cent.
    Copper for July delivery fell 3.1 cents to $US2.253 a pound.

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