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PAKISTAN - Market factors to watch - May 17
Reuters - Monday, May 17
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KARACHI, May 17 - 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 Chris Allbritton in Islamabad editorial on +92-51 281 0017 or via email at chris.allbritton@thomsonreuters.com or on Reuters messaging chris.allbritton.reuters.com@reuters.net) WHAT IS HAPPENING IN PAKISTAN, ALL TIMES LOCAL FOLLOWED BY GMT: (The inclusion of diary items does not necessarily mean that Reuters will cover the event)
* State Bank of Pakistan to release foreign investment data for April on or soon after Monday.
* SBP to sell 60 billion rupees worth of 3-, 6- and 12-month treasury bills on Wednesday.
* SBP to announce on May 24 its monetary policy for the subsequent two months.
MARKET SNAPSHOTS
* The rupee eased against the dollar on Friday amid higher demand for the U.S. currency from oil importers.
The rupee <PKR=> closed at 84.30/35 to the dollar compared with Thursday's close of 84.17/27.
* Stocks ended flat on Friday in dull trade, and the Karachi Stock Exchange's benchmark 100-share index <.KSE> ended 0.08 percent, or 7.81 points, lower at 10,271.71 points.
Turnover was 64 million shares, down from 83.4 million the previous day.
* The net inflow of foreign portfolio investment in the stock market was $1.53 million on Friday.
[http://www.nccpl.com.pk/fipi-new/index.php]
* U.S. stocks fell on Friday on a combination of weak earnings from retailers, Senate backing for limits on credit card fees and concerns over the sustainability of European public debt.
The Dow Jones industrial average <.DJI> dropped 162.79 points, or 1.51 percent, to end at 10,620.16. The Standard & Poor's 500 Index <.SPX> fell 21.76 points, or 1.88 percent, to 1,135.68. The Nasdaq Composite Index <.IXIC> lost 47.51 points, or 1.98 percent, to close at 2,346.85. [.N]
* Oil fell below $70 a barrel on Monday, to its lowest in more than three months, extending a loss of nearly 17 percent over the past two weeks on fears over Europe's debts, the weak euro and swollen U.S. oil inventories.
U.S. crude for June delivery <CLc1> fell more than $1.00 on Monday to as low as $69.82 a barrel, its weakest since Feb. 5. It was trading at $70.12 by 0303 GMT, down $1.49.
London Brent crude <LCOc1> dropped $1.40 to $76.53 a barrel. [O/R]
* Gold firmed towards a record on Monday, while bullion priced in euro and sterling struck all time highs as falling currencies and fears a European bailout package could hurt, rather than help a recovery, spurred investor buying.
Spot gold <XAU=> was at $1,239.90 an ounce by 0326 GMT, up $9.85 from New York's notional close on Friday, when it etched a record of $1,248.95 before slipping. Bullion has gone up around 13 percent this year. [GOL/]
* For global market news, click on [MKTS/GLOB]
* To see announcements on Pakistan central bank's regular open market operations, please click on <SBPK09>.
FOR A SPEED GUIDE ON PAKISTAN, CLICK ON <PAKISTAN>
FOR A DIARY OF EVENTS IN PAKISTAN, SEE [PK/DIARY]
FOR PAKISTAN ECONOMIC INDICATORS, CLICK ON [ECI/PK]
FOR KARACHI INTERBANK RATES, SEE <KIBR> <KIBR01>
FOR PAKISTAN OPEN MARKET CURRENCY RATES, CLICK ON [PKR/]
FOR PAKISTAN COTTON RATES, SEE [COT/KAR]
FOR PAKISTAN PORT ACTIVITY, CLICK ON [SHP/PK1][SHP/PK2]
FOR KEY GLOBAL ECONOMIC NEWS, SEE [TOP/MACRO]
FOR AN OUTLOOK OF ASIAN STOCK TRADING, CLICK ON [STXNEWS/AS]
TOP NEWS ON ASIAN COMPANIES [TOP/EQA]
FOR INTERNATIONAL FOREX NEWS, HIT [FXNEWS]
FOR WHAT INVESTORS ARE SAYING ABOUT GLOBAL DEALS [DEALTALK/]
GLOBAL STOCKS - BUY OR SELL? [BUYSELL/]
IN THE NEWS REUTERS PAKISTAN (Click on [PK-RTRS]
> Militants free 50 hostages in NW Pakistan-official [ID:nSGE64F025]
> Pakistanis want British MP to remove terror stigma [ID:nSGE64E00M]
> China's Yunnan wins Pakistan 100,000 T sugar tender [ID:nSGE64F00U]
> Chile charges, frees Pakistani in U.S. embassy case [ID:nN15219763]
> IMF board okays $1.13 billion in aid for Pakistan [ID:nN14196253]
> Pakistani stocks flat; o/n rates down; rupee weaker [ID:nSGE64D0HW] (For more Reuters coverage of Afghanistan and Pakistan, see: http://www.reuters.com/news/globalcoverage/afghanistanpakistan)
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