mineral exploration project – commodity prices – mining stock- trade and market

Stock market development in some increase in the stock market, selling shares of gold mining companies become leaders in improving the stock sales. However, some stock market decline, the European stock market decline, some investors took profits in some sectors and there are no significant economic news to the decision-making. Paris CAC 40 index reported a decline in the stock 0.19 percent, the stock index closed at 3799.61. Frankfurt’s DAX experienced the same thing stock index fell 0.08 percent, the stock index closed at 5711.88 figures.

Elsewhere there were gains of 0.25 per cent in Amsterdam, 0.19 per cent in Brussels and 0.45 per cent in Milan. There were declines of 0.60 per cent in Madrid and 0.22 per cent in Geneva.

In New York, share prices shook off a weak start on Friday and the market kept momentum from this week’s rally.

The Dow Jones Industrial Average was holding a gain of 0.37 per cent at 9,823.45 at mid-day while the Nasdaq composite had climbed (0.46) per cent to 2133.73.

The market was digesting comments from US Fed chairman Ben Bernanke late on Thursday that interest rates may be lifted from the level of near zero when the US economic outlook has “improved sufficiently”.

“There is nothing monumental about the chairman’s statement,” said Patrick O’Hare at Briefing.com, who added that the market paused to reflect on the impact of higher rates on the US dollar and commodities.

Because a weak dollar and rising commodities prices have been pushing stocks up, the latest comments prompted caution.

“Mr Bernanke threw the dollar a bone with the remark and the uptick in the greenback is expected to weigh a bit on commodity-sensitive areas,” O’Hare said.

But Fred Dickson at DA Davidson & Company said investors sitting with cash on the sidelines have been using the modest dips to buy more stocks.

“We continue to see small pullbacks followed by rallies on expanding volume, signalling equity buyers are still waiting on the sidelines to get on board the train,” he said.

“Some of the recent rally can be attributed to global investors seeking to unload dollars for stocks and commodities.”

There was little reaction to a report showing the US trade deficit narrowed for the first time in four months.

Although a lower trade gap would ordinarily be seen as positive news, analysts said it showed higher exports driven by a weak dollar and lower imports amid lacklustre domestic demand.

In London mining issues fell victim to profit-taking, with Anglo American shedding 1.4 per cent to end the week at 2151.5 pence while Vedanta gave up 1.28 per cent to finish at 2.162 pence.

Among the main losers in Paris was media group Vivendi, which fell 1.47 per cent to 20.395 euros on investor fears it might boost its bid for the Brazilian group GVT, which is also coveted by Telefonica.

Steelmaking giant ArcelorMittal lost 1.13 per cent to close at 25.45 euros on a lowered recommendation on the stock from Royal Bank of Scotland.

Earlier in Asia, Tokyo’s benchmark Nikkei-225 index jumped 1.87 per cent on Friday, ending above the key 10,000-points level for the first time in more than a week as hopes mounted of a recovery in corporate earnings.

AFP

Find More Other News : Dow Jones Stock - European stock - financial stock - London Stock - Mining Investment