4 Jul 2013

Modest gains on Wall St

7:12 am on 4 July 2013

Wall Street closed early on Wednesday in preparation for the 4 July holiday in the United States. Stocks made modest gains, despite thin trading.

The Dow Jones Index gained 50 points to close at 14,988. The S&P 500 index was flat at 1615 and

the Nasdaq Composite gained 10 points to 3,443.

Wall Street will re-open on Friday, US time.

Earlier the london, the FTSE 100 closed down 1.18%, the DAX in Frankfurt closed down 1.03% and the CAC-40 in Paris closed down 1.08%.

Comment on European markets on merit

The ASX 200 Index fell 1.9% to 4744, with international investors dumping resource stocks on fears the Chinese economy is slowing. The NZX 50 closed was little changed, closing at 4450.

The New Zealand dollar continued to climb against the Australian dollar on Wednesday night, rising to 85.6 Australian cents. The kiwi was also buying 77.8 US cents.

Brent crude Oil has risen US2 to $US106.50 cents, following the unrest in Eygpt. And gold was up more than 1%, trading at $US1250 per ounce.