Howd’y USA

In US economic data, existing home sales fell by 3.4% to a 5.15 million annual pace in September (forecast 5.3m). US share markets ended mixed on Friday. Shares in Procter & Gamble soared by 8.8% in response to strong quarterly sales figures, buoying the Dow Jones index. But investors remained concerned about the Sino-US trade dispute and US-Saudi Arabia tensions. The Dow Jones rose by almost 65 points (or 0.3%), after holding in a 259 point range. The S&P500 index was flat and the Nasdaq index lost 36 points (or 0.5%). Over the week, the Dow was up 0.4% with the S&P 500 flat but the Nasdaq lost 0.6%.    

US long-term treasuries fell on Friday (yields higher). Traders trimmed safe-haven trades on hopes for a resolution of the Italian budget dispute. US 2-year yields rose 2 points to 2.91% and US 10-year yields rose by 1 point to 3.20%. Over the week, US 2-year yields rose by 5 points and US 10-year yields rose by 3 points.

Major currencies were mixed against the US dollar in US and European trade compared with the Asian close. The Euro rose from lows near US$1.1435 to highs around US$1.1525 and was near US$1.1515 in late US trade. The Aussie dollar rose from near US71.05 cents to US71.50 cents and was near US71.20 cents in late US trade. The Japanese yen held between 112.32 yen per US dollar to JPY112.61 and was near JPY112.54 in late US trade.   

Zao shang hao, Asia

In Chinese data on Friday, figures showed the economy grew at a 6.5% annual pace in the September quarter (forecast 6.6%). 

Bongiorno, Europe!

European share markets generally ended modestly lower on Friday. The construction and materials sector fell 1.7% and autos fell 2.7%. The on-going focus was on the size of the Italian budget deficit. The pan-European STOXX600 index fell by 0.1% on Friday but rose 0.7% over the week. The German Dax index lost 0.3% but the UK FTSE index rose by 0.2%. In London trade, shares of Rio Tinto fell by 1.5% and BHP fell by 0.7%.

Top of the morning, London!

Base metal prices were mixed on the London Metals Exchange on Friday. Aluminium, lead and zinc fell by up to 2%. But other metals rose up to 1.1%. Over the week metals fell by up to 4.5% with lead down the most. But zinc was flat and tin rose 0.4%. 

G’day Australia –  on fuel and the glittery ‘stuff’

Global oil prices rose modestly on Friday. Investors were encouraged by data showing that refinery throughput in China rose in September to a record 12.49 million barrels per day. Also Reuters cited sources that said an OPEC and non-OPEC monitoring committee found that oil producers' compliance with a supply-reduction agreement fell to 111% in September, from 129% in August. Brent crude rose by US49 cents or 0.6% to US$79.78 a barrel and the US Nymex price rose by US47 cents or 0.7% to US$69.12 a barrel. Over the week, Brent fell by US65 cents or 0.8% and Nymex fell by US$2.22 or 3.1%.  

The gold futures price fell by US$1.00 an ounce or 0.1% to $1,229.10 an ounce. The spot gold price was trading near US$1,226 an ounce in late US trade. Over the week gold rose by US$7.10 or 0.6%. Iron ore fell by US85 cents or 1.1% to US$73.45 a tonne. Over the week, iron ore rose by US$1.95 or 2.7%.

Have a great day, Australia!