PAKISTAN STOCKS TAKE 554-POINT GAIN AMID LOW TURNOVER
The stock market posted a slight recovery to end its three-day losing streak on Friday, and close the week on a positive note, albeit on low turnover. Overall, trading volumes fell to 112 million shares compared with Thursday’s tally of 165 million. Shares of 340 companies were traded. At the end of the day, value of 240 stocks closed higher, 83 declined while 17 remained unchanged.
Silk Bank was the volume leader with 8.3 million shares, gaining Rs0.01 to close at Rs1.49.
US SHARES RISE AFTER SOLID BANKING EARNINGS
Wall Street stocks moved higher early Friday following better-than-expected earnings from large banks, and shrugging off disappointing US retail sales data. Analysts are broadly optimistic about corporate earnings as reporting season gets underway in earnest.
Companies in the S&P 500 are expected to report an increase of six percent in operating earnings per share compared with the year-ago period.
About 20 minutes into trading, the Dow Jones Industrial Average was up 0.2 percent at 21,578.91. The broad-based S&P 500 rose 0.4 percent to 2,452.21, while the tech-rich Nasdaq Composite Index advanced 0.3 percent to 6,290.91.
EUROPEAN STOCKS SEE STRONGEST WEEK AS FED TONE SPURS RELIEF
European shares had their strongest week in more than two months as investors piled back into equities on signs that the world’s major central banks would likely not tighten monetary policy as quickly as some had feared. The pan-European STOXX 600 index inched up 0.1 percent while euro zone bluechips fell 0.2 percent.
TOKYO SHARES EDGE UP
Tokyo stocks were edged up Friday ahead of a 3-day weekend with investors awaiting a string of key meetings and data releases, while Uniqlo’s operator dropped on lower-than-expected earnings.
Tokyo’s benchmark Nikkei 225 index inched up 0.09 percent, or 19.05 points, to 20,118.86 — ending the week 0.95 percent higher. The Topix index of all first-section issues gained 0.39 percent, or 6.37 points, to 1,625.48 — putting on 1.15 percent since last Friday’s close.
HONG KONG STOCKS KEEP SURGING
Hong Kong stocks were finished on a high Friday, extending their gains to a fifth-straight day following another record close on Wall Street. The Hang Seng Index rose 0.16 percent, or 43.06 points, to 26,389.23.
AUSTRALIAN AND NZ STOCKS SOAR
Australian stocks were expected to cool off at open on Friday as the rally after Federal Reserve Chair Janet Yellen’s statements to gradually raise interest rates started fading. The local share price index futures fell 0.2 percent to 5680, a 56.8 point discount to the underlying S&P/ASX 200 index close. The benchmark rose 1.1 percent to close at 5,736.80 on Thursday. New Zealand’s benchmark S&P/NZX 50 index rose 0.005 percent in early trade.