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PAKISTAN - Market factors to watch - Dec 29
Reuters - Tuesday, December 29
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KARACHI, Dec 29 - 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 Robert Birsel in Islamabad editorial on +92-51 281 0017 or via email at robert.birsel@thomsonreuters.com or on Reuters messaging robert.birsel.reuters.com@reuters.net, or michael.georgy@thomsonreuters.com) 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)
* A Memorandum of Understanding of "PRI-PIA Strategic Alliance" signing ceremony is scheduled to be held on Tuesday at 11:00 a.m. Finance minister Shaukat Tarin, Defense Minister Ahmed Mukhtar and State Bank Governor Salim Raza will speak on the occasion.
MARKET SNAPSHOTS
* In the currency market, the rupee firmed but dealers said it may come under pressure in the short term because of an increase in international oil prices.
The rupee was quoted at the close at 84.21/31 to the dollar compared with Wednesday's close of 84.32/42.[PKR/].
* Pakistani stocks ended higher on Thursday following the approval of a $1.2 billion loan payment from the International Monetary Fund, but dealers said turnover was thin as investors were cautious ahead of a long weekend.
The Karachi Stock Exchange benchmark 100-share index <.KSE> ended 119.31 points, or 1.28 percent, higher at 9,422.23 on turnover of 107.28 million shares. [KA]
* The net inflow of foreign investment in the stock market was $3.24 million on Thursday.
[http://www.nccpl.com.pk/fipi-new/index.php]
* U.S. stocks rose on Monday, sending indexes to fresh closing highs for 2009, as optimism about the economic recovery lifted shares of technology, energy and industrial companies, offsetting a drop in airline shares amid security worries.
The Dow Jones industrial average <.DJI> rose 26.98 points, or 0.26 percent to end unofficially 10,547.08. The Standard & Poor's 500 Index <.SPX> added 1.30 points, or 0.12 percent, to finish unofficially at 1,127.78. The Nasdaq Composite Index <.IXIC> advanced 5.39 points, or 0.24 percent, to close unofficially at 2,291.08.
Both the Dow and the S&P 500 marked their highest close in 14 months and the Nasdaq notched its highest close in 15 months. [.N]
* Oil rose on Monday to touch a five-week high over $79 a barrel as expectations of colder weather in the United States and signs of economic recovery boosted the outlook for fuel demand.
U.S. crude for February delivery <CLc1> settled up 72 cents at $78.77 a barrel in thin trade after earlier touching $79.12, the highest since Nov. 23. [O/R]
* Gold inched higher on Monday helped by a recovery trend in the euro against the dollar, but trade was light as many investors stayed on the sidelines with U.S. and European markets closed since late last week for Christmas.
Spot gold <XAU=> was up 0.8 percent at 1,112.35 an ounce as of 0710 GMT compared with New York's notional close of $1,103.80. [GOL/]
* For global market news, click on [MKTS/GLOB]
* To see announcements of 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] > Bomb at Shi'ite procession in Pakistan kills 25 [SGE5BR06Z] > IMF approves $1.2 billion payment to Pakistan [ID:nN23200338] > Pakistan's Zardari vows to defend democracy [ID:nSGE5BQ01M] > Taliban planned to use Americans in Pakistan attack [nSGE5BP02B] (For more Reuters coverage of Afghanistan and Pakistan, see: http://www.reuters.com/news/globalcoverage/afghanistanpakistan)
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