5 May 2011

Offshore markets down

7:56 am on 5 May 2011

Stocks in the United States have fallen, as investors took profits in energy and other top-performing sectors for a third day.

The Dow Jones Index on Wednesday was down 66 points, or 0.5%, at 12,741. The Nasdaq Composite was down 5 points to 2837.

In London, commodity stocks dragged FTSE 100 lower, ending a recent rally. US manufacturing data was also disappointing. The FTSE 100 closed down 99 points, or 1.6%, at 5,984

The Australian 200 Index shed almost 1% on Wednesday, falling 45 points to close at 4740. The NZX 50 was unchanged at 3495.

The New Zealand dollar on Thursday morning was trading at 79.16 US cents, 73.48 Australian cwnts, 47.93 pence, 63.81 yen and 0.5331 euro.

The Trade Weighted Index was at 67.44.

Brent crude oil was trading at $122.67 per barrel and gold was trading at $US1514.89 per ounce.