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Pakistan - Market factors to watch - March 8
Reuters - Tuesday, March 8
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KARACHI, March 8 - 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@thomsonreuters.com)
MARKET SNAPSHOTS
* The rupee <PKR=> ended firmer at 85.31/36 to the dollar on Monday, compared with Friday's close of 85.47/52 amid lack of import payments.
* The Karachi Stock Exchange's benchmark 100-share index ended 0.212 percent, or 25.48 points, lower at 11,974.55, after touching an intraday high of 12,158.01.
Turnover fell to 11.84 million shares, compared with 187.45 million shares traded on Friday.
* Foreign investors bought shares worth a net $519,204 on Monday.
* Technology stocks sold off on Monday, with the Nasdaq teetering on a key technical support level as uncertainty over higher oil prices looks set to drive volatility in the days ahead.
The Dow Jones industrial average <.DJI> dropped 79.85 points, or 0.66 percent, to 12,090.03. The Standard & Poor's 500 Index <.SPX> fell 11.02 points, or 0.83 percent, to 1,310.13. The Nasdaq Composite Index <.IXIC> lost 39.04 points, or 1.40 percent, to 2,745.63. [.N]
* Brent crude fell below $115 on Tuesday on reports Libyan leader Muammar Gaddafi was looking for a way to step down and end the fighting that has slashed the nation's exports, and investors were also soothed by OPEC assurances of supply to the market.
ICE Brent crude for April <LCOc1> shed 35 cents to $114.69 a barrel at 0303 GMT, after hitting $119.79 on Feb. 24, the highest prices since 2008. U.S. crude <CLc1> on Tuesday slid 61 cents from a 2-1/2-year peak to $104.83. [O/R]
* Gold held steady on Tuesday below a record high hit in the previous session, while a rebound in ETF holdings suggested that investors remained jittery about high oil prices and related unrest in North Africa and the Middle East.
Spot gold <XAU=> hardly moved at $1,430.54 an ounce by 0313 GMT, having rallied as high as $1,444.40 an ounce on Monday, a record high, as violence flared in Libya and after the downgrade of Greece's credit rating reignited worries about euro zone sovereign debt. [GOL]
* For global market news, click on [MKTS/GLOB]
* To see announcements of the Pakistan central bank's regular open market operations, please click on <SBPK09>.
FOR A SPEED GUIDE ON PAKISTAN, CLICK ON <PAKISTAN>
FOR PAKISTAN ECONOMIC INDICATORS, CLICK ON [ECI/PK]
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 ECONOMIC FX RELATED NEWS, HIT [FXNEWS]
FOR WHAT INVESTORS ARE SAYING ABOUT DEALS [DEALTALK/]
STOCKS - BUY OR SELL? [BUYSELL/]
IN THE NEWS REUTERS PAKISTAN (Click on [PK-RTRS]
> Pakistani stocks end lower; rupee firm against dollar [ID:nSGE726083]
> Cricket-In-form Pakistan hold edge over patchy New Zealand [ID:nSGE7260AB] (For more Reuters coverage of Pakistan, see: http://www.reuters.com/places/pakistan)
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