6 Jul 2010

Global markets quiet

8:36 am on 6 July 2010

Global markets are relatively quiet as the markets in the United States are closed for Independence Day.

In London, the FTSE 100 index closed down 14 points to 4823.

But talk that BP could raise 6 billion pounds by selling a stake to a rival, or Middle Eastern sovereign wealth funds, sent its shares up 3%.

In China, the Shanghai composite index fell to a 15-month low after data pointed to slowing growth and rising inflation.

The index dropped 19 points or 0.8% to 2,364 at the end of trading.

The Australian 200 Index closed down 16 points, or 0.4% on Monday, at 4222.

The NZX 50 closed up 9 points, or 0.3%, at 2947 on turnover of $35 million.

At 8am on Tuesday, the New Zealand dollar was trading at 68.80 US cents, 82.03 Australian cents, 45.47 pence, 60.40 yen and 0.5489 euro. The Trade Weighted Index was at 65.98.

Brent crude oil was trading at $US72.21 per barrel and gold was trading at $US1207.21 per ounce