Pakistan stocks finishes on flat note
The stock market experienced subdued trading compared to the past sessions, with the benchmark index closing on a flat note on the last trading day of the week ending on December 6, 2019. Bullish activity was witnessed at the Pakistan Stock Exchange (PSX) in the pre-earnings season on the back of renewed foreign inflows, upbeat data of foreign exchange reserves and Moody’s positive reports. However, the upward momentum could not be sustained as selling pressure drove the index down.
At close, the benchmark KSE 100-share Index recorded an increase of 91.15 points, or 0.22percent, to settle at 40,732.25. Overall, trading volumes decreased to 416.9 million shares compared with Thursday’s tally of 507.9 million. The value of shares traded during the day was Rs15.2 billion. Shares of 382 companies were traded. At the end of the day, 185 stocks closed higher, 185 declined and 12 remained unchanged. Unity Foods was the volume leader with 53.5 million shares, gaining Rs0.82 to close at Rs13.96.
US stocks ends solidly higher
Wall Street ended solidly higher on Friday as a strong jobs report and optimism about US-China trade negotiations ahead of an upcoming deadline helped stoke investor risk appetite.
All three major US stock indexes gained ground, hovering within 1% of record highs set last week. But as a tumultuous week of contradictory trade news and mixed economic data drew to a close, only the S&P 500 posted a weekly gain. The Dow and the Nasdaq ended the session down from last Friday’s close.
The Dow Jones Industrial Average rose 337.27 points, or 1.22%, to 28,015.06, the S&P 500 gained 28.48 points, or 0.91%, to 3,145.91 and the Nasdaq Composite added 85.83 points, or 1%, to 8,656.53.
Japan stocks higher; Nikkei 225 up 0.23pc
Japan stocks were higher after the close on Friday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher. At the close in Tokyo, the Nikkei 225 rose 0.23 percent. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 2200 to 1318 and 255 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was unchanged 0.00percent to 15.44. Crude oil for January delivery was down 0.22percent or 0.13 to $58.30 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February fell 0.24percent or 0.15 to hit $63.24 a barrel, while the February Gold Futures contract fell 0.36percent or 5.35 to trade at $1477.75 a troy ounce.
France stocks higher; CAC 40 up 1.21pc
France stocks were higher after the close on Friday, as gains in the Foods & Drugs, Gas & Water and General Financial sectors led shares higher. At the close in Paris, the CAC 40 gained 1.21 percent, while the SBF 120 index gained 1.10 percent. Rising stocks outnumbered declining ones on the Paris Stock Exchange by 349 to 214 and 100 ended unchanged. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was down 7.07percent to 14.06. Gold Futures for February delivery was down 1.14 percent or 16.95 to $1466.15 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January rose 0.94 percent or 0.55 to hit $58.98 a barrel, while the February Brent oil contract rose 1.23 percent or 0.78 to trade at $64.17 a barrel. EUR/USD was down 0.42percent to 1.1055, while EUR/GBP fell 0.26 percent to 0.8416.
Germany stocks climb; DAX up 0.86pc
Germany stocks were higher after the close on Friday, as gains in the Technology, Basic Resources and Transportation & Logistics sectors led shares higher. At the close in Frankfurt, the DAX rose 0.86 percent, while the MDAX index gained 0.71 percent, and the TecDAX index added 0.59 percent. Rising stocks outnumbered declining ones on the Frankfurt Stock Exchange by 490 to 176 and 87 ended unchanged. The DAX volatility index, which measures the implied volatility of DAX options, was down 7.57 percent to 15.01. Gold Futures for February delivery was down 1.14 percent or 16.95 to $1466.15 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January rose 1.06 percent or 0.62 to hit $59.05 a barrel, while the February Brent oil contract rose 1.36 percent or 0.86 to trade at $64.25 a barrel.
India’s Sensex drops over 500 points
The S&P BSE Sensex and NSE Nifty 50 indices suffered sharp losses on Friday led by losses in HDFC, State Bank of India, ITC, ICICI Bank, Axis Bank and IndusInd Bank. The benchmarks extended declines in afternoon deals deals as a selloff across sectors deepened, after trading in a choppy manner in the first half of session. The Sensex slumped as much as 515 points from the day’s highest level and the Nifty 50 index hit an intraday low of 11,919. The Sensex traded 289 points or 0.7 percent lower at 40,491 and the Nifty was down 0.8 percent or 98 points at 11,921. All the 11 sector gauges compiled by National Stock Exchange traded lower led by a 4 percent fall in the Nifty PSU Bank index. The Nifty Media, Nifty Auto, Nifty Bank, Nifty Private Bank, Nifty Financial Services and Nifty Realty indices were down between 1 percent and 3.9 percent at the time.
Dow surges more than 300 points on jobs data
Stocks surged on Friday on the back of U.S. jobs growth that easily topped analyst expectations as Wall Street wrapped up a choppy week of trading. The Dow Jones Industrial Average was up 337.27 points, or 1.2percent at 28,015.06. Friday’s performance was the Dow’s best since Oct. 4, when it rallied 1.4percent. The S&P 500 closed 0.9percent higher at 3,145.91 — its biggest one-day gain since Oct. 15 — while the Nasdaq Composite jumped 1percent to 8,656.53. Shares of 3M led the Dow’s strong gains, rising more than 4percent. The energy sector was the best performer in the S&P 500, jumping 2percent. Industrials and financials rose more than 1percent each. Google-parent Alphabet closed 0.9percent higher and hit an all-time high. Apple shares also reached record levels, gaining 1.9percent. Goldman Sachs shares jumped 3.4percent. The S&P 500 came into the session down 0.7percent for the week, but Friday’s strong gains helped the index recover those losses. The Dow and Nasdaq each entered Friday trading down more than 1percent week to date. They were only down 0.1percent each for the week after Friday trading ended.