30 Nov 2012

Stocks volatile with no deal yet on fiscal cliff

9:17 am on 30 November 2012

Trading in stocks in the United States was volatile on Thursday after House Speaker John Boehner said there had been nosubstantive progress in talks to reach a budget deal that would avoid the fiscal cliff.

The comments rattled investors who had earlier driven world stocks to a three-week high on hopes that political leaders would reach a deal.

The Dow Jones Index was up 50 points, or 0.38%, at 13,035 and the Nasdaq Composite was up 19 points or 0.78%, to 3,011.

The FTSE 100 in London was up 0.38%, the DAX in Frankfurt was 078% and the CAC-40 was up by 1.53%.

The Nikkei Index in Tokyo rose 92 points to 9,400 and the Hang Seng in Hong Kong added 214 points to end at 21,923.

The Australian 200 Index closed up 30 points on Thursday, or 0.66%, at 4478. The NZX50 index rose 5 points to 40 17

The New Zealand dollar was trading on Friday morning at 82.25 US cents, 78.90 Australian cents, 51.28 pence, 67.55 yen and 0.6341 euro. The Trade Weighted Index was at 73.58.

Brent crude oil was trading at $US110.90 per barrel and gold was s trading at $US1724.55 per ounce.