US stocks end mixed amid oil rebound

New York, April 27 (IANS) US stocks closed mixed as investors digested gains in oil prices and the newly-released economic data.

The Dow Jones Industrial Average on Tuesday edged up 13.08 points, or 0.07 percent, to 17,990.32. The S&P 500 rose 3.91 points, or 0.19 percent, to 2,091.70, Xinhua news agency reported.

The Nasdaq Composite Index fell 7.48 points, or 0.15 percent, to 4,888.31, for its four-day losing streak.

Oil prices increased on Tuesday as the declining US dollar made the dollar-priced crude less expensive and more attractive for buyers holding other currencies.

On the economic front, new orders for manufactured durable goods in March increased $1.8 billion, or 0.8 percent, to $230.7 billion, missing market consensus of 1.6 percent, reported the US Labor Department on Tuesday.

“Durable orders rose, but not as much as expected. Weak corporate profits appear an ongoing drag on equipment spending,” said Chris Low, chief economist at FTN Financial, in a note.

Meanwhile, investors kept a close eye on the Federal Reserve’s policy meeting. The Federal Open Market Committee, the Fed’s policy-making arm, will announce its latest rate decision when it concludes a two-day meeting on Wednesday.

Spanish stock market rises

Madrid, April 27 (IANS) The Spanish stock market index Ibex 35 rose 1.56 percent to close at 9,283 points, up from the 9,140 points of the previous session.

On Tuesday’s session, Sacyr shares led rises climbing 8.36 percent, followed by BBVA, Tecnicas Reunidas, OHL, Caixabank and Banco Santander that rose 5.30 percent, 4.03 percent, 4.03 percent, 3.61 percent and 3.33 percent respectively, Xinhua news agency reported.

On the other hand, Acerinox shares led falls losing 3.28 percent, followed by Grifols, Inditex, ArcelorMittal, FCC and Enagas that lost 1.29 percent, 0.84 percent, 0.66 percent, 0.20 percent and 0.15 percent respectively.

Meanwhile, Spain’s risk premium closed at 133.40 points, below the 137 points of Monday, and Spain’s 10-year bond interest rate stood at 1.6 percent.

Canadian stocks inch up as crude rebounds

Toronto, April 27 (IANS) Canada’s main stock market in Toronto ended higher as higher oil prices supported energy concerns, offsetting deep losses for one of the country’s major railway stocks.

The Toronto Stock Exchange’s benchmark Standard & Poor’s/TSX Composite Index gained 13.45 points, or 0.10 percent, to close at 13,809.44 points on Tuesday, Xinhua news agency reported.

Half of the TSX index’s eight main sub-sectors were higher.

Crude oil prices increased on Tuesday as declining dollar made the dollar-priced crude less expensive and more attractive for buyers holding other currencies.

The most influential movers on the TSX index included Canadian Natural Resources, which rose 1 percent to 38.55 Canadian dollars ($30.54), and Encana Corporation, which advanced 6.87 percent to 9.65 Canadian dollars per share.

The shares of Teck Resources rose 4.82 percent to 13.69 Canadian dollars. The miner reported a surprise quarterly profit as cost-cutting measures and a weak Canadian dollar helped cushion the impact of lower coal and copper prices.

Bombardier boosted 10.56 percent to 1.99 Canadian dollars. The aircraft maker said a unit of Nova Scotia-based Chorus Aviation Inc had signed an agreement to buy five CRJ900 aircraft with an option to buy an additional five.

The Canadian dollar traded higher at $0.7923, compared with Monday’s closing rate of $0.7883.

Chinese yuan strengthens

Beijing, April 27 (IANS) The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 45 basis points to 6.4837 against the US dollar on Wednesday, according to the China Foreign Exchange Trading System.

In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day, Xinhua news agency reported.

The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Tokyo stocks open higher as oil prices rise

Tokyo, April 27 (IANS) Tokyo stocks rose from the off on Wednesday as a rise in oil prices following a recent slump and the yen’s retreat against the US dollar lifted the market mood, despite some anxiety about upcoming central bank meetings in the US and Japan.

The 225-issue Nikkei Stock Average added 55.67 points, or 0.32 percent, from Tuesday to 17,408.95, Xinhua news agency reported.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, gained 0.90 point, or 0.06 percent, to 1,392.59.

Notable early advancers comprised mining, glass and ceramics products, and fishery, agriculture and forestry-linked stocks.

Chinese shares open higher

Beijing, April 27 (IANS) Chinese stocks opened higher on Wednesday, with the benchmark Shanghai Composite Index up 0.08 percent, at 2,967.19 points.

The smaller Shenzhen index opened 0.12 percent higher at 10,221.83 points, Xinhua news agency reported.

The ChiNext Index, tracking China’s NASDAQ-style board of growth enterprises, was up 0.33 percent to open at 2,162.76 points.

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