29 Jul 2010

Stock markets slip

8:57 am on 29 July 2010

World stocks have slipped, threatening to halt a fifth consecutive day of gains, as weak orders for US durable goods in June cooled the economic outlook.

The Dow Jones Index was down 19 points on Wednesday to 10,519. The Nasdaq Composite was down 17 points to 2272.

European shares also ended lower. The FTSE 100 index in London was down 46 points or 0.86% at 5320.

The Dax index in Frankfurt ended the day down 28 points, or 0.46%, at 6179. However, the CAC-40 in Paris rose 4 points, or 0.11%, at 3670.

Earlier, the Nikkei in Tokyo gained 256 points to 9,753 and the Hang Seng in Hong Kong was up 0.5% to 21,091.

Across the Tasman, the Australian 200 Index rose 33 points, to close at 4530.

The NZX 50 closed 14 points higher, at 3022 on turnover of $44 million.

At 8.15am on Thursday, the New Zealand dollar was trading at 72.78 US cents, 81.58 Australian cents, 46.69 pence, 63.75 yen and 0.5604 euro. The Trade Weighted Index was at 68.07.

Brent crude oil was trading at $US77.59 per barrel and gold was trading at $US1161.70 per ounce.