The Australian market closed lower on Wednesday after record inflation spooked investors. The annual inflation rate in Australia climbed to 7.8% in Q4 of 2022 from 7.3% in Q3, above market forecasts of 7.5%, the Australian Bureau of Statistics said on Wednesday. The S&P/ASX 200 declined 0.3%. Zealand’s benchmark S&P/NZX 50 index rose 0.52% as New Zealand’s fourth quarter inflation reading rose 1.4% quarter-on-quarter.
Asian stocks traded mixed, tracking Wall Street’s struggle for direction. Trading volumes were thin as markets in Taiwan, China and Hong Kong remained closed for the Lunar New Year holidays. In South Korea, the Kospi rose 1.39%. Japan’s Nikkei 225 added 0.35%.
European stock markets opened the trading session mixed on Wednesday as data out of the eurozone showed an uptick in business activity in the region’s services and manufacturing sectors. London’s FTSE 100 rose 0.13%, in Paris the CAC 40 gained 0.15% while Frankfurt’s DAX was flat.
European markets closed lower on Wednesday, as the business climate in Germany came somewhat below expectations, while the United Kingdom reported a monthly decline in producer inflation. The DAX went down 0.08% at the close, the FTSE 100 decreased by 0.21% while the CAC 40 lost 0.11%. The Euro Stoxx 50 dropped 0.12%.
US stock exchanges traded lower in the premarket on Wednesday as investors awaited more quarterly reports by major companies. The Dow Jones Industrial Average index was down 0.27%, the Nasdaq 100 declined 0.64% and the S&P 500 decreased 0.40% at 4:00 am ET.
Major stock market indices in the United States closed mixed on Wednesday. The Dow ended the session up 0.03% after dropping more than 400 points earlier. Meanwhile, the Nasdaq Composite and S&P 500 dipped just 0.18% and 0.02%, respectively. The early sell-off on Wall Street largely reflected a negative reaction to earnings news from some big-name companies.
Crude oil prices rebounded on Wednesday. Brent crude futures gained 59 cents, or 0.7%, to $86.72 per barrel by 0214 GMT after falling 2.3% in the previous session. U.S. West Texas Intermediate (WTI) crude futures
rose 46 cents, or 0.6%, to $80.59 per barrel, having dropped 1.8% on Tuesday, according to Reuters.
Gold prices traded in a tight range on Wednesday. Spot gold was steady at $1,937.09 per ounce, as of 0249 GMT, after hitting its highest since late April 2022 on Tuesday. U.S. gold futures were up 0.2% at $1,940.00, according to Reuters.
The euro was flat against the dollar, to sell at $1.08840 at 8:57 am CET. The pound sterling slipped 0.18% compared to the greenback, to sell at $1.23173.
To get in touch with our editorial team, send a press release,
email us at: editorial [at] worldmarketsdaily.com
To advertise on our platforms, you can use this form,
email us at: advertise [at] worldmarketsdaily.com
or call us at: +40 314 228 321 (Monday-Friday 10:30 – 16:30)
Visit our other websites:
• www.traveltogreece.com.ro (Coming soon)