12 Sep 2012

Offshore markets up

9:00 am on 12 September 2012

Wall St stocks moved higher on Tuesday as investors hope the Federal Reserve will announce new stimulus measures.

They are also awaiting a ruling by a German court on the legality of the eurozone's new bailout fund.

The Dow Jones Index was up 92 points, or 0.7%, at 13,347. The Nasdaq Composite was down 2 points at 3,101.

In Europe: Deutsche Bank led a rally after announcing it would not ask shareholders for more cash to strengthen its capital base.

The DAX in Frankfurt was up 1.34% and the CAC-40 was up 0.89%. But the FTSE100 in London was down 1.01%.

The Australian 200 Index closed on Tuesday down 7 points at 4325 and the NZX50 was up 18 points, or 0.5%, to close at 3745.

At 8.30am on Wednesday, the New Zealand dollar was trading at 81.89 US cents, 78.45 Australian cents, 50.97 pence, 63.65 yen and 0.6371 euro. The Trade Weighted Index was at 72.79.

Brent crude oil was trading at $US114.60 per barrel and gold was trading at $US1732 per ounce.