13 Jun 2011

Brutal week for markets

8:37 am on 13 June 2011

Last week was brutal for stock markets in the United States, as investors sold on signs that growth in the world's largest economy was slowing.

The Dow Jones Index closed on Friday down 172 points, or 1.4%, at 11,951.

The Nasdaq Composite closed down 41 points, or 1.5%, to 2643.

The Australian 200 Index closed on Friday up 12 points, or 0.3%, at 4562.

The NZX 50 closed flat, up almost 2 points, at 3490.

At 8.15am on Monday, the New Zealand dollar was trading at 82.04 US cents, 77.9 Australian cents, 50.58 pence, 65.93 yen and 0.5725 euro. The Trade Weighted Index was at 70.95.

Brent crude oil was trading at $US119.65 per barrel and gold was trading at $US531.03 per ounce.