4 Aug 2010

US stocks down

9:53 am on 4 August 2010

Stocks in the United States have fallen after disappointing results by Procter & Gamble and weak economic data, but a bullish profit and outlook from Pfizer, the world's largest drugmaker, helped limit losses.

The Dow Jones Index was down 38 points on Tuesday to close at 10,636. The Nasdaq Composite was down 12 points to 2284.

European shares ended flat as strong corporate results from Deutsche Post offset some worries about the economic recovery fuelled by disappointing US data.

The FTSE 100 index in London ended flat, the DAX in Frankfurt rose 0.3% and the CAC-40 in Paris shed 0.1%.

Across the Tasman, the Australian 200 Index closed 30 points higher, at 4572.

The NZX 50 rose 6 points, to finish the day at 3050 on turnover of $55 million.

at 8.25am on Wednesday, the New Zealand dollar was trading at 73.40 US cents, 80.43 Australian cents, 46.05 pence, 63.05 yen and 0.5549 euro. The Trade Weighted Index was at 67.68.

Brent crude oil was trading at $US84.94 per barrel and gold was trading at $US1186.85per ounce.