March 14, 2012 / 3:42 AM / 6 years ago

Pakistan - Market factors to watch - March 14

ISLAMABAD, March 14 (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 micheal.georgy@thomsonreuters.com or on Reuters messaging michael.georgy@thomsonreuters.com)

MARKET SNAPSHOTS

* The rupee ended weaker at 90.74/77 to the dollar on Tuesday compared to its close of 90.68/73 on Monday because of increased import payments.The rupee was supported this week by increased remittances from overseas Pakistanis, which rose 23.4 percent to $8.59 billion in the first eight months of the 2011/12 fiscal year, compared with $6.96 billion in the same period last year.

* The Karachi Stock Exchange (KSE) benchmark 100-share index fell 0.74 percent, or 98.89 points, to 13,282.65 points on Tuesday.Turnover fell to 186.2 million shares, compared with 576.82 million shares traded on Monday, its highest since 2006.

* Foreign investors bought shares worth a net $943,445 on Tuesday.

* The U.S. stock market posted its best day this year, with Tuesday’s late spark coming from JPMorgan Chase & Co after the bank announced it will raise its dividend. JP Morgan’s news preceded the Federal Reserve’s release of results from its latest stress tests of U.S. banks. Most of the top banks did well and their shares extended gains in trading after the closing bell.The Dow Jones industrial average jumped 217.97 points, or 1.68 percent, to close at 13,177.68. The Standard & Poor’s 500 Index rose 24.86 points, or 1.81 percent, to 1,395.95. The Nasdaq Composite Index climbed 56.22 points, or 1.88 percent, to 3,039.88.

* Brent crude eased towards $126 on Wednesday as expectations for a build in U.S. crude inventories offset improving economic sentiment in the world’s top oil consumer. Brent crude fell 20 cents to $126.02 a barrel by 0245 GMT, after settling at an 11-month high of $126.22 on Tuesday. U.S. crude eased seven cents at $106.64.

* Gold regained some strength on Wednesday on bargain hunting after prices dropped about 2 percent in the previous session, but a firmer U.S. dollar was likely to cap gains after the Federal Reserve vowed to keep interest rates low until 2014Spot gold rose 80 cents to $1,675.55 an ounce by 0054 GMT. It fell to a low around $1,661 an ounce on Tuesday, its weakest since late January, after the Fed offered no clues on whether there will be another round of monetary easing.

* To see announcements of the Pakistan central bank’s regular open market operations, please click on. FOR A SPEED GUIDE ON PAKISTAN, CLICK ON

FOR PAKISTAN ECONOMIC INDICATORS, CLICK ON

FOR PAKISTAN OPEN MARKET CURRENCY RATES, CLICK ON

FOR PAKISTAN COTTON RATES, SEE

FOR PAKISTAN PORT ACTIVITY, CLICK ON

FOR KEY GLOBAL ECONOMIC NEWS, SEE

FOR AN OUTLOOK OF ASIAN STOCK TRADING, CLICK ON

TOP NEWS ON ASIAN COMPANIES

FOR ECONOMIC FX RELATED NEWS, HIT

FOR WHAT INVESTORS ARE SAYING ABOUT DEALS

STOCKS - BUY OR SELL?

IN THE NEWS REUTERS PAKISTAN (Click on )

* Obama aims to dispel Afghan anger over massacre

* US drone strikes kill 15 in NW Pakistan

* India’s cotton exports split industry, government (Compiled by the Islamabad newsroom)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below