July 2, 2012 / 3:28 AM / 5 years ago

Pakistan - Market factors to watch - July 2

ISLAMABAD, July 2 (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 weakened slightly to close at 94.49/55 to the dollar on Friday compared to 94.39/45 on Thursday.

* The Karachi Stock Exchange benchmark 100-share index closed slightly down 0.03 percent, or 4.01 points, at 13,801.41 points on volume of 57.08 million shares on Friday.

* Foreign investors sold shares worth a net $1,090,202 on Friday.

* U.S. stocks surged on Friday to close out a sour quarter on a high note as investors cheered an agreement by European leaders to stabilize the region’s banks, a pact that helped remove some of the uncertainty that has plagued markets. The Dow Jones industrial average jumped 277.83 points, or 2.20 percent, to 12,880.09 at the close. The Standard & Poor’s 500 Index rose 33.12 points, or 2.49 percent, to 1,362.16. The Nasdaq Composite Index climbed 85.56 points, or 3.00 percent, to 2,935.05.

* Oil surged on Friday in heavy trading to the fourth biggest daily gain on record, as a deal by European leaders to shore up euro zone banks triggered frantic short-covering by funds that had been riding crude’s price collapse over the last quarter. Brent crude oil futures rose more than $6 a barrel to near $98 while U.S. crude jumped by more than $7 to settle just below $85 a barrel -- the fourth largest daily gains in dollar terms since the contracts were launched.

* Spot gold hovered below $1,600 an ounce on Monday, pausing after posting its strongest daily rise in a month in the previous session on a euro zone deal aimed at helping its debt-laden members. Spot gold edged down 0.1 percent to $1,594.99 an ounce by 0024 GMT, after surging 3 percent in the previous session. The precious metal posted a monthly gain of more than 2 percent in June, its first in five months.

* 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 )

* EXCLUSIVE-U.N. drops Saudi dissident from al Qaeda blacklist

* Drone aircraft kills 8 suspected militants in Pakistan (Compiled by the Islamabad newsroom)

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