The S&P 500 SPX, +1.07% closed 21.84 points, or 1.1%, higher at 2,068.58 and turned positive for the year. Nine of the 10 main sectors finished higher, while energy-sector stocks ended with modest losses, following a drop in oil prices.
S&P Market News Update
Wednesday, 11 February 2015
The S&P 500 SPX, +1.07% closed 21.84 points, or 1.1%, higher at 2,068.58 and turned positive for the year. Nine of the 10 main sectors finished higher, while energy-sector stocks ended with modest losses, following a drop in oil prices.
KLSE Stock Recommendations
MARKET UPDATES :
The FBM KLCI index lost 0.46 points or 0.03% on Tuesday. The Finance Index increased 0.23% to 15915.65 points, the Properties Index dropped 0.28% to 1305.23 points and the Plantation Index down 0.06% to 8013.23 points. The market traded within a range of 7.93 points between an intra-day high of 1816.62 and a low of 1808.69 during the session.
STOCK RECOMMENDATION :
BUY SAPURA KENCANA ABOVE 2.935 TARGET 2.985 3.085 SL 2.875
The FBM KLCI index lost 0.46 points or 0.03% on Tuesday. The Finance Index increased 0.23% to 15915.65 points, the Properties Index dropped 0.28% to 1305.23 points and the Plantation Index down 0.06% to 8013.23 points. The market traded within a range of 7.93 points between an intra-day high of 1816.62 and a low of 1808.69 during the session.
STOCK RECOMMENDATION :
BUY SAPURA KENCANA ABOVE 2.935 TARGET 2.985 3.085 SL 2.875
KLSE Comex Recommendations
INTERNATIONAL COMMODITY NEWS :
Gold prices held mostly flat on Wednesday in Asia with Greece firmly in focus and China data ahead.Greece’s Parliament approved the government’s economic plan in a vote late Tuesday that sets up a showdown with country’s international creditors beginning this week in Brussels.With 162 ‘yes’ votes against 137 ‘nos’ with one absentee lawmaker, Prime Minister Alexis Tsipras earned approval for a plan that rolls back many of the austerity measures agreed by the former government of Antonis Samaras.
TRADING STRATEGY :
BUY GOLD ABOVE 1240 TARGET 1245 1251 SL 1234
SELL GOLD BELOW 1228 TARGET 1223 1217 SL 1234
Gold prices held mostly flat on Wednesday in Asia with Greece firmly in focus and China data ahead.Greece’s Parliament approved the government’s economic plan in a vote late Tuesday that sets up a showdown with country’s international creditors beginning this week in Brussels.With 162 ‘yes’ votes against 137 ‘nos’ with one absentee lawmaker, Prime Minister Alexis Tsipras earned approval for a plan that rolls back many of the austerity measures agreed by the former government of Antonis Samaras.
TRADING STRATEGY :
BUY GOLD ABOVE 1240 TARGET 1245 1251 SL 1234
SELL GOLD BELOW 1228 TARGET 1223 1217 SL 1234
Platinum Market Update
Platinum for April delivery PLJ5, +0.53% fell $13.10 to end at $1,207.30 an ounce, while March palladium PAH5, +0.86% lost $13.95 to $765.70 an ounce. High-grade copper for March delivery HGH5, -0.16% settled down 3 cents to $2.552 a pound.
Gas Market Update
March natural gas NGH15, +0.60% was the lone gainer among key energy futures, tacking on 8 cents, or 3.1%, to $2.677 per million British thermal units ahead of a weekly U.S. supply update due Thursday.
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