Top Stocks For 1/31/2013-15

Reported by: Eric CRWE Newswire Middle East correspondent

The World stock markets faced a correction in overnight trading due to an unexpected increase of 500,000 in US jobless claims and a decline in Philadelphia’s manufacturing activity.

London’s FTSE 100 index dropped 0.3 percent or 17.24 points to 5,194.05. Germany’s DAX was down by 30.4 points to 6,045.09 whereas France’s leading stock market index CAC-40 plunged 0.3 percent or 10.97 points to 3,561.43.

Bearish sentiments are maintained in the Asian stock markets too as Japan’s Nikkei 225 stock average dropped 183 point to 9,178.38 reporting a change of 2 percent for the day. Hong Kong Hang Seng lost 0.4 percent to 20.984.29 whereas Shanghai Composite Index fell 1.7 percent to 2,642.31

Kospi South Korea Index dropped 0.2 percent to 1,775.54 and selling pressure was witnessed by other Asian stock markets in Singapore, Malaysia and India.

Stock futures have dropped substantially in the premarket on fear of a slow economic recovery. Dow Jones Industrial Average futures fell 58 points to 10,177, Standard & Poor’s 500 index futures plunged 0.6 percent to 1,064.50 whereas NASDAQ 100 index futures were down by 0.6 percent to 1,810.00.

Euro remained steady in overnight trading at 1.2824 against the US dollar however pound sterling dropped to 1.556 from 1.5596 against the dollar.
Though the dollar closed on its 15 year low against Yen on Thursday it gained back to 85.34 yen from 85.32 yen in the overnight market.

Crude oil fell below $75 per barrel in overnight trading over disappointing US economic data. The crude oil future contract for October delivery dropped 19 cents to $74.24 per barrel in New York Mercantile exchange whereas Brent Crude fell 61 cent to 74.69 per barrel on ICE futures exchange in London’s trading market

 

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