Met­als rise as trea­suries de­cline

The Pak Banker - - Front Page -


In­dus­trial met­als and Euro­pean stocks rose as China's man­u­fac­tur­ing re­bounded and re­sults from British Sky Broad­cast­ing Group Plc and Lloyds Bank­ing Group Plc beat es­ti­mates. The yen fell and Trea­suries snapped a three-day gain.

Cop­per in­creased 0.7 per­cent at 10 a.m. in Lon­don and lead ad­vanced 1.6 per­cent. The Stoxx Europe 600 In­dex added 0.2 per­cent, par­ing gains of as much as 0.4 per­cent.

Shares in Shang­hai ral­lied the most in three weeks, while Stan­dard & Poor's 500 In­dex ( SPX) fu­tures re­treated 0.4 per­cent.

The yen de­clined against all but one of its 16 ma­jor peers. Trea­sury 10-year note yields climbed two ba­sis points to 1.71 per­cent. The pound strength­ened af­ter U.K. house prices re­bounded in Oc­to­ber.

Pana­sonic shares lost 19 per­cent in Tokyo af­ter the com­pany said it will lose 765 bil­lion yen ($9.6 bil­lion) in the year to March.

A Chi­nese pur­chas­ing man­ager's in­dex climbed to 50.2 in Oc­to­ber, a sign growth is pick­ing up af­ter a sev­en­quar­ter slow­down.

BskyB, the U.K.'s big­gest pay- tele­vi­sion provider, said oper­at­ing profit rose and Lloyds, Bri­tain's largest mort­gage lender, posted higher pre­tax profit. U.S. fac­tory out­put prob­a­bly grew at a slower pace in Oc­to­ber, while con­struc­tion spend­ing re­bounded in Septem­ber, economists said be­fore re­ports to­day.

" Mar­ket sen­ti­ment was boosted by China's PMI data which sig­naled that de­mand re­mains steady," said Chae Un Soo, a met­als trader at Korea Ex­change Bank Fu­tures Co. in Seoul.

BSkyB jumped 3.5 per­cent af­ter and Lloyds climbed 3.2 per­cent.

BT Group climbed 6.1 per­cent as the U.K.'s big­gest fixed­line phone com­pany kept its full-year profit tar­get and boosted its div­i­dend.

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