Pakistan - Market factors to watch - July 3

ISLAMABAD, July 3 Tue Jul 3, 2012 8:45am IST

ISLAMABAD, July 3 (Reuters) - Following is a list of events in Pakistan as well as news stories and press reports which may influence financial markets.

(Reuters News welcomes your feedback and for any queries please contact Michael Georgy in Islamabad editorial on +92-51-281-0017 or via email michael.georgy@thomsonreuters.com or on Reuters messaging michael.georgy@thomsonreuters.com)

MARKET SNAPSHOTS

* The rupee closed at 94.49/55 to the dollar on Friday. Monday was a bank holiday in Pakistan.

* The Karachi Stock Exchange benchmark 100-share index closed 2.47 percent, or 341.51 points, higher at 14,142.92 on volume of 84.1 million shares on Monday.

* Foreign investors bought shares worth a net $6,341,808 on Monday.

* U.S. stocks edged higher on Monday, shaking off a surprise contraction in U.S. manufacturing, which some investors took as a signal the Federal Reserve will take more forceful actions to boost the economy. The Dow Jones industrial average was down 8.70 points, or 0.07 percent, at 12,871.39. The Standard & Poor's 500 Index was up 3.35 points, or 0.25 percent, at 1,365.51. The Nasdaq Composite Index was up 16.18 points, or 0.55 percent, at 2,951.23.

* Brent crude climbed above $98 per barrel on Tuesday as escalating tensions between Iran and the west offset concerns that gloomy manufacturing data from China, the United States and Europe will hurt oil demand. Brent crude gained 79 cents to $98.13 per barrel by 0502 GMT while U.S. crude rose by 50 cents to $84.25.

* Gold prices held steady on Tuesday, as hopes of more easing from central banks after a string of bleak global macroeconomic data from Europe to the United States supported bullion's appeal. Spot gold was little changed at $1,595.79 an ounce by 0032 GMT.

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IN THE NEWS REUTERS PAKISTAN (Click on )

* US, Pakistan deal seen soon on Afghan supply routes

* Afghanistan accuses Pakistan army of rocket attacks (Compiled by the Islamabad newsroom)

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