Markets close the session flat after a volatile week $XAUUSD

Last Updated on Monday, 05 March 2012 14:48

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Rating agency downgrades again caused the market concern with the sovereign debt rating of many European nations on notice. Finch placed Belgium, Slovenia, Cyprus and Ireland on notice for potential downgrades, Moody’s followed with a ratings cut of Belgium after the close. Credit warnings have also being placed on troubled banks
Quadruple Witching which is the expiry of four key futures and options contacts occurred on Friday. This brought added volume to the market but failed to provide any rally of substance to the market
Technology and energy stocks were stronger, while healthcare and utilities were weaker. Chevron and Microsoft rallied 1.2% and 1.72% respectively. Other stocks to lead the moves on the Dow were HD ( 2.54%), IBM (–2.09%) and UTX (-1.55%)
DOW –0.02%, S&P500 0.32% and NASDAQ 0.56%
EUR traded around the 1.3000 big figure dipping below at one point. AUD traded at parity making a high of 1.0026 late last week
Gold rallied 1.8% as ratings agencies warned of potential downgrades, Crude fell on European debt concerns, coming off 0.4% on Friday

Published by Spectrum Live Pty Ltd | www.spectrumlive.com

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