Yesterday's Market Snapshot

Stocks and Financial Services Press Releases Friday August 6, 2010 11:43
Bangkok--6 Aug--UOB Bullion and Futures

The SET50 Index June futures opened at 586.9. After the bell, the contract hit the intraday low of 585.8. Later, the contract traded higher for the rest session, and hit its highest level of 593.5. The contract settled at 593.2, up 8.4 points with trading volume of 6,894.

This Morning Trend

U.S. and European stocks dropped on Thursday after an unexpected rise in weekly U.S. jobless claims underscored the weakening economy, and the euro ended slightly stronger against the dollar a day ahead of the U.S. government's monthly payrolls report.

The number of Americans making new claims for jobless benefits rose by 19,000 to 479,000 in the week ended July 31 -- the highest level in nearly four months. The news, coming a day ahead of the U.S. government's closely watched monthly payrolls report, put investors on edge, as stubbornly high unemployment has fueled concerns on sustainable global growth.

Asian stocks will probably make a soft start on Friday, after global markets fell on weak data, and investors were cautious ahead of key U.S. labour market figures.

Japan's Nikkei average fell 0.9 percent on Friday after an unexpected rise in weekly U.S. jobless claims underscored the weakening economy and sent Wall Street lower a day before the U.S government's monthly payrolls report.

Gold Market Snapshot
Gold futures August contract in Thailand settled up THB 150 at THB 18,290 on the TFEX market with volume of 2,247 contracts.
Gold prices rose on Thursday for a seventh consecutive session as a weaker dollar and surging grain prices lifted the metal's investment appeal.
Spot gold was at $1,195.65 an ounce at 3:02 p.m. EDT (1902 GMT) against $1,194.60 late in New York on Wednesday.
U.S. COMEX December futures settled up $3.40 at $1,199.30 an ounce.
<< For more information, please contact us, UOB Bullion and Futures. Tel. 0.-213-2611 >>

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