US stocks trade mixed

New York, April 29 (IANS) US stocks pared early losses to trade mixed as investors assessed the Bank of Japan’s (BOJ) decision to maintain its monetary policy amid US economic data.

By Thursday noon, the Dow Jones Industrial Average fell 29.79 points, or 0.17 percent, to 18,011.76, Xinhua news agency reported.

The S&P 500 rose 2.42 points, or 0.12 percent, to 2,097.57. The Nasdaq Composite Index added 21.79 points, or 0.45 percent, to 4,884.93.

The BOJ on Thursday decided to keep its current monetary policy despite market expectations of additional easing, while again putting off the target date of achieving its 2 percent inflation goal.

On the US economic front, the US real gross domestic product (GDP) increased at an annual rate of 0.5 percent in the first quarter of 2016, worse than traders’ estimates, according to the “advance” estimate released by the Commerce Department Thursday.

Meanwhile, in the week ending April 23, the advance figure for seasonally adjusted initial jobless claims was 257,000, an increase of 9,000 from the previous week’s revised level, the Labor Department said on Thursday.

Spanish stock market falls

Madrid, April 29 (IANS) The Spanish stock market index Ibex-35 fell 0.68 percent to close at 9,269 points, down from the 9,332.60 points of the previous session.

On Thursday’s session, BBVA shares led falls losing 6.78 percent, followed by Caixabank, Acerinox, Tecnicas Reunidas, Bankia and Ferrovial that lost 3.02 percent, 1.94 percent, 1.65 percent, 1.63 percent and 1.46 percent respectively, Xinhua news agency reported.

On the other hand, ArcelorMittal shares led rises climbing 6.87 percent, followed by AENA, Mapfre, Banco Santander, Abertis A and Endesa that rose 1.87 percent, 1.79 percent, 1.76 percent, 1.48 percent and 1.22 percent respectively.

Meanwhile, Spain’s risk premium closed at 135 points and Spain’s 10-year bond interest rate closed at 1.6 percent, both showing no big differences when compared with Wednesday.

US dollar falls against major currencies

New York, April 29 (IANS) The US dollar fell against other major currencies as investors were surprised by the Bank of Japan’s (BOJ) decision to maintain its monetary policy.

In late New York trading on Thursday, the euro rose to $1.1350 from $1.1321 in the previous session and the British pound climbed to $1.4610 from $1.4553 in the previous session, Xinhua news agency reported.

The Australian dollar increased to $0.7638 from $0. 7597.

The US dollar bought 108.10 Japanese yen, lower than 111.52 yen of the previous session. The US dollar fell to 0.9667 Swiss franc from 0.9715 Swiss franc, and it lost to 1.2518 Canadian dollars from 1.2606 Canadian dollars.

The BOJ on Thursday decided to keep its current monetary policy despite market expectations of additional easing, while again putting off the target date of achieving its 2 percent inflation goal.

The US dollar plunged about 3 percent against Japanese yen following the news.

The dollar index, which measures the greenback against six major peers, was down 0.67 percent at 93.759 in late trading.

Canadian stocks slightly lower despite oil rally

Toronto, April 29 (IANS) Canada’s main stock market in Toronto inched down closing as financial and energy stocks declined, while Bombardier shares rose after the company won a multi-billion-dollar order for its CSeries passenger jets.

The Toronto Stock Exchange’s benchmark Standard & Poor’s/TSX Composite Index lost 1.23 points, or 0.01 percent, to close at 13, 886.43 points on Thursday, Xinhua news agency reported.

Five of the TSX index’s eight main sub-sectors were lower.

Oil prices continued to rally Thursday as the US dollar depreciated against other currencies, making the dollar-priced crude less expensive and more attractive for buyers holding other currencies.

The West Texas Intermediate for June delivery added 70 cents to settle at $46.03 a barrel on the New York Mercantile Exchange, while Brent crude for June delivery increased 96 cents to close at $48.14 a barrel on the London ICE Futures Exchange.

The Canadian dollar traded higher at $0.7969, compared with Wednesday’s closing rate of $0.7925.

Chinese yuan strengthens

Beijing, April 29 (IANS) The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 365 basis points to 6.4589 against the US dollar on Friday, 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.

Chinese shares open lower

Beijing, April 29 (IANS) Chinese stocks opened lower on Friday, with the benchmark Shanghai Composite Index down 0.35 percent to open at 2,935.38 points.

The smaller Shenzhen index opened 0.38 percent lower at 10,111.61 points, Xinhua news agency reported.

The ChiNext Index, tracking China’s NASDAQ-style board of growth enterprises, was down 0.63 percent to open at 2,141.58 points.

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