MARKET ROUNDUP (Source Bloomberg)
U.S. Stocks Rise Before American Presidential Elections; as Americans prepared to vote in the presidential election. The S&P 500 added 0.2 percent to 1,417.26 at 4 p.m. New York time. It fell 0.4 percent earlier today. The Dow Jones Industrial Average rose 19.28 points, or 0.2 percent, to 13,112.44. Volume for exchange-listed stocks in the U.S. was 5.1 billion shares, or 13 percent below the three-month average.
European Stocks Fall on Company Earnings; HSBC Retreats; amid concern that Greece will struggle to get further aid. Prime Minister Antonis Samaras pledged yesterday that the raft of wage and pension cuts in the latest austerity package will be the last and that Greek society won’t tolerate any more, according to comments made to lawmakers of his New Democracy party. The first parliamentary vote is scheduled to take place as early as Nov. 7.The U.K.’s FTSE 100 dropped 0.5 percent, France’s CAC 40 lost 1.3 percent and Germany’s DAX retreated 0.5 percent.
Oil Trades Near Two-Day High Before Election; Shipments Resume; as deliveries resumed on the U.S. East Coast afterHurricane Sandy. Gains were limited before presidential elections in the U.S., the world’s biggest crude consumer. Futures were little changed after rising from an almost four-month low yesterday. Fifteen tankers, including two crude carriers, will arrive over the next four days in New York Harbor, Charles Rowe, a spokesman for U.S. Coast Guard said in a telephone interview. Phillips 66 finished post-storm assessments at its 238,000 barrel-a-day Bayway refinery in New Jersey and will resume operations in two to three weeks, it said in a statement. U.S. voters decide today whether to return Barack Obama as president or elect his challenger Mitt Romney. West Texas Intermediate oil for December delivery was at $85.72 a barrel, up 7 cents, in electronic trading on the New York Mercantile Exchange at 9:31 a.m. Tokyo time. The contract advanced 79 cents to $85.65 yesterday after closing last week at the lowest level since July 10. Prices have dropped 13 percent this year.
Source:Jupiter Securities Research, 06 November 2012
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