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Pakistan - Market factors to watch - Feb 21
Reuters - 2 hours 53 minutes ago
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KARACHI, Feb 21 - 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=> firmed on Friday amid a lack of import payments and dealers said the rupee is expected to move in a narrow band in the short term.
The rupee closed at 85.37/44 to the dollar, up from Thursday's close of 85.45/50. [PKR/]
* The Karachi Stock Exchange's benchmark 100-share index <.KSE> ended 0.17 percent, or 20.62 points, lower at 12,041.15.
Turnover rose to 70.36 million shares from 60.38 million shares, a four month low, traded on Thursday. [.KA]
* Foreign investors bought shares worth a net $2.05 million on Friday.
* Late arrivals to the speediest rally in stocks since the Great Depression pushed stocks higher for a third week on Friday, despite growing signals of an overheating market.
On Friday the Dow Jones industrial average <.DJI> gained 73.11 points, or 0.59 percent, to 12,391.25. The Standard & Poor's 500 Index <.SPX> added 2.58 points, or 0.19 percent, to 1,343.01. The Nasdaq Composite Index <.IXIC> edged up 2.37 points, or 0.08 percent, to 2,833.95. [.N]
* Oil jumped by over $1.00 a barrel on Monday, as violent clashes in OPEC-member Libya heightened fears of social unrest spreading across the Middle East and North Africa and disrupting supplies in the major oil-producing region.
Brent crude for April delivery <LCOc1> rose $1.02 to $103.54 a barrel by 0340 GMT, its intra-day high. On Friday, Brent settled at $102.52, its fourth-straight weekly rise.
U.S. crude for March delivery <CLc1> rose $1.10 to $87.31 a barrel, after hitting a high of $87.63. [O/R]
* Gold rose to a seven-week high on Monday as spreading unrest in the Middle East underscored its appeal as a safe-haven asset, while silver and palladium prices hit historic highs on expectations for growing industrial demand.
Spot gold <XAU=> inched up 0.5 percent to $1,396.10 per ounce as of 0217 GMT, its highest since Jan. 4, and compared with $1,388.58 an ounce late in New York on Friday. [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]
> Pauses in US Pakistan strikes seen linked to US prisoner [ID:nSGE71J00Q]
> Pakistani troops kill up to 15 militants [ID:nSGE71J00A]
> Pakistan to rule on Antofagasta venture soon - report [ID:nN18134498]
> Pakistani stocks, o/n rates end down; rupee firms [ID:nSGE71H081]
(For more Reuters coverage of Afghanistan and Pakistan, see: http://www.reuters.com/places/pakistan.
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