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Pakistan - Market factors to watch - Feb 27

Source : REUTERS
Last Updated: Wed, Feb 27, 2013 07:40 hrs

Following is a list of events in Pakistan as well as news stories and press reports which may influence financial markets.

(Reuters News welcomes your feedback and for any queries please contact Michael Georgy in Islamabad editorial on +92-51-281-8320 or via email micheal.georgy@thomsonreuters.com or on Reuters messaging michael.georgy@thomsonreuters.com)

MARKET SNAPSHOTS

* In the currency market, the rupee strengthened, closing at 98.12/98.17 against the dollar, compared to Monday's close of 98.15/98.12.

* The Karachi Stock Exchange's (KSE) .KSE benchmark 100-share index ended 0.70 percent, or 125.61 points, lower at 17,894.89.

* U.S. stocks rebounded from their worst decline since November on Tuesday after Federal Reserve Chairman Ben Bernanke defended the Fed's bond-buying stimulus and sales of new homes hit a 4 1/2-year high. The Dow Jones industrial average gained 115.96 points, or 0.84 percent, to 13,900.13 at the close. The Standard & Poor's 500 Index rose 9.09 points, or 0.61 percent, to 1,496.94. The Nasdaq Composite Index advanced 13.40 points, or 0.43 percent, to close at 3,129.65.

* Brent futures held steady near $113 a barrel on Wednesday after Federal Reserve's affirmation of its commitment to monetary stimulus renewed hopes of a revival in demand growth in the world's biggest oil consumer. Brent crude rose 8 cents to $112.79 a barrel by 0428 GMT, after rising to as much as $113.10. The contract hit a session low of $112.41 a barrel on Tuesday, its weakest since Jan. 24, and settled down $1.73. U.S. oil gained 2 cents to $92.65, after ending 48 cents lower.

* Gold traded flat on Wednesday, perching near a 1-1/2-week high hit in the previous session as the U.S. Federal Reserve reassured investors of its commitment to loose monetary policy, burnishing bullion's appeal as a hedge against inflation. Spot gold was little changed at $1,612.31 an ounce by 0218 GMT, after hitting a 1-1/2-week high of $1,619.66. It rose 1.2 percent on Tuesday, its biggest daily gain in three months. U.S. gold inched down 0.2 percent to $1,612.10.

* To see announcements of the Pakistan central bank's regular open market operations, please click on. FOR A SPEED GUIDE ON PAKISTAN, CLICK ON

FOR PAKISTAN ECONOMIC INDICATORS, CLICK ON

FOR PAKISTAN OPEN MARKET CURRENCY RATES, CLICK ON

FOR PAKISTAN COTTON RATES, SEE

FOR PAKISTAN PORT ACTIVITY, CLICK ON

FOR KEY GLOBAL ECONOMIC NEWS, SEE

FOR AN OUTLOOK OF ASIAN STOCK TRADING, CLICK ON

TOP NEWS ON ASIAN COMPANIES

FOR ECONOMIC FX RELATED NEWS, HIT

FOR WHAT INVESTORS ARE SAYING ABOUT DEALS

STOCKS - BUY OR SELL? IN THE NEWS REUTERS PAKISTAN (Click on )

* Afghan insurgent attacks misreported, did not fall in 2012-NATO

* U.S. Treasury targets money exchange operator linked to Taliban




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