The crude oil routed traffic and was last night reported a decline of nearly a percentage. The main reason is shrinking optimism that the change in the exchange rate of China will help restore the global economy. During yesterday’s trading session in New York oil contract with delivery in July rose 0.8 percent to 77.82 dollar per barrel. At night, however raw material lost nearly a percent to 77.07 dollars a barrel. The deadline for July futures trading ends today, which makes the contracts with delivery in August, more actively traded. Tonight, they fell by 0,9 percent to 77.89 dollars per barrel. Downward movement in oil prices due to the limitation of optimism on stock markets. Moreover, the American bank Goldman Sachs released a new forecast of the development in the oil market, which is set at a lower price of raw material to previous expectations. The new bank is expected over the next three months to price reached 87 dollars per barrel, with whole 9.4 percent below the previous forecast of 94 dollars per barrel. Exchange in London yesterday by Brent oil with delivery in August rose 0.8 percent to 78.82 dollars a barrel.
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Friday’s session began with reductions for the main indexes of Wall Street, although two of the companies in the Dow Jones IA – General Electric and Bank of America, announced better than expected financial results for the first quarter. Data on housing in the U.S. in March, which came out before the start of the session also proved to be much better than forecasts. However, the index of the 30 largest stock exchange and frequently traded companies Dow Jones IA decreased by 0.5% to 11 093.33 points and a half hours after the start of the session. The broad measure of stock S & P 500 lost 1 percent to 1 200.61 points and the index of companies by the exchange Nasdaq – Nasdaq Composite, decreased by 0.8% to 2 496.73 points. Session on Thursday brought minor changes to the index after three disappointing news for initial unemployment and industrial production. Shares of industrial conglomerate General Electric dropped by 2.4 percent to 19.03 dollars on the New York Stock Exchange after the company reported 18 percent drop in profit for the first quarter to 2.3 billion dollars, or 21 cents a share. Analysts had expected a smaller profit per share of 16 cents. The largest U.S. bank Bank of America, in turn, said it issued a profit of 3.2 billion dollars for the first three months of the year, or 28 cents a share. This was three times more than market forecasts, but shares of the bank dropped by 3.6 percent to 18.75 dollars on the New York Stock Exchange.
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Australia ended the monopoly of the stock exchange, permitting the creation of a second exchange for trading in shares in the country. Authorization is granted to Japan’s Nomura, but its purpose is to create competition to help develop the market. Among the main priorities of Australia has become the local stock market in the center of financial services in Asia-Pacific region, said Finance Minister Chris Bowen of the country, quoted by AP. According to him, higher competition should lead to cost reductions of about 6 million Australian citizens who have contributions to pension funds. “If Australia really wants to be considered a financial center if we are to global center for financial services, the monopoly days of our financial market must be completed,” said Bowen. Authorization for establishing a second exchange in the country is a company of Chi-X Global, which is part of network of Nomura Holdings.
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