World Markets Daily News – In Brief – 24/01/2023




The Australian market finished Tuesday’s session in the green with the S&P/ASX 200 closing up 0.44%, after Wall Street stocks ended higher overnight for a second straight session, fueled by a surge in technology stocks. Australian miners and tech stocks led the surge but the ASX was hamstrung somewhat by banks and industrials, as a survey from National Australia Bank showed its index of business conditions fell 8 points to +12 in December. New Zealand’s benchmark S&P/NZX-50 index slipped 0.13%.


Asian markets traded higher as Lunar New Year holidays were observed in most of the region with markets including South Korea, Malaysia, Singapore, China, Hong Kong and Taiwan remaining closed. Japanese stocks rallied to lead regional gains, led by technology stocks. The Nikkei rose 1.46%.


European markets opened higher with traders locking their attention on major PMI releases today, relating to the US, UK and Eurozone. Germany’s DAX climbed 0.27%, in Paris the CAC 40 rose 0.30% while London’s FTSE 100 gained 0.16%.

Major European stock market closed mixed even as flash PMI data showed return to growth for the euro zone. The flash composite output index rose more-than-expected to 50.2 in January from 49.3 in December, according to flash survey results from S&P Global. The DAX stood flat at the close. The FTSE 100 dropped 0.23% while the CAC 40 rose 0.25%. The Euro Stoxx 50 advanced 0.09%.


US stock futures were largely flat on Tuesday morning Futures tied to the Dow Jones Industrial Average fell 34 points, or 0.1%. S&P 500 futures and Nasdaq 100 futures were each lower by less than 0.1%, according to CNBC.



Crude oil prices rose slightly in early Asian trade on Tuesday. Brent crude had risen 5 cents to $88.24 per barrel by 01:16 GMT, while U.S. West Texas Intermediate (WTI) crude rose 13 cents to $81.75 per barrel, according to Reuters.


Gold prices edged up on Tuesday. Spot gold rose 0.2% to $1,935.69 per ounce, as of 02:08 GMT. U.S. gold futures
were up 0.4% at $1,936.00, according to Reuters.


At 8:56 am CET, the euro and the pound sterling traded 0.17% and 0.26% higher against the US dollar, to sell at $1.08873 and $1.24062 respectively.

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