13 Jun 2009

Mixed session on Wall Street

11:11 am on 13 June 2009

Wall Street stocks closed mixed on Friday as a decline in oil prices weighed on energy stocks and investors shrugged off disappointing consumer sentiment data.

After zigzagging into and out of positive territory, the Dow Jones Industrial Average rose 28.34 points, or 0.32%, to end at 8,799.41.

The blue chip Dow has now joined the other major indices in wiping out losses since the start of the year.

The Nasdaq fell 3.57 points, or 0.19%, to 1,858.80, while the broad-market Standard & Poor's 500 index edged up 1.32 points, or 0.14%, to close at 946.19.

Investors shrugged off the University of Michigan's consumer sentiment index showing a gain in June for the fourth month running. This was slightly below market expectations.

The energy sector, which had provided some support to the equities market this week, was under pressure as oil prices fell back from Thursday's peak above $US73 a barrel in profit taking.

NZ, Australia, Asia

The New Zealand sharemarket 's benchmark NZX-50 index rose 13.282 points, or 0.475% to close on Friday at 2809 on turnover of $109.7 million.

The Australian share market posted its third successive daily rise to a fresh seven-month high, with financial stocks driving gains despite profit-taking in the resources sector.

At 1615 AEST, the benchmark S&P/ASX200 index was up 15 points, or 0.37%, to 4062.2. The broader All Ordinaries index had added 14.8 points, or 0.37%, to 4061.5.

Gains in Chinese industrial output and rising US retail sales lifted Asian shares on Friday toward new highs for the year.

Japan's Nikkei average rose 1.6% to highs last seen in October, though the MSCI index of Asia-Pacific stocks outside Japan fell 0.4% percent.

Europe

European shares fell after three days of gains, as softer commodity prices weighed on energy and mining stocks.

Demand for defensive stocks like pharmaceuticals offered support.

The FTSEurofirst 300 index of top European companies closed down 0.2% at 885.75 points on Friday, after closing at its highest level in five months on Thursday.