MARKET TALK: S&P/ASX 200 Offshore Leads Bearish; SPI -0.7%

30th Jun 2010 00:28

2328 GMT [Dow Jones] S&P/ASX 200 offshore leads bearish, with overnight SPI 200 futures down 30 points, or 0.7%, at 4232.0, after Wall Street suffered late sell-off as Moody's said it was considering cutting Spain's AAA credit rating because of weak economic prospects, challenging fiscal targets and rising funding costs. DJIA down 1.0% at 9774.02, S&P 500 down 1.0% at 1030.71, Nasdaq down 1.2% at 2109.24. U.S. ADP private sector jobs rose 13,000 vs 60,000 expected. Chicago PMI fell to 59.1 in June vs 58.5 expected. NY ISM business conditions index fell to 69.3 in June vs 89.9 in May. S&P 500 Computer Hardware down 1.3% - Hewlett Packard fell 2.3%. S&P 500 Financials down 1.1%, with KBW Bank index down 1.5%. S&P 500 Consumer Discretionary down 1.2%, with Walt Disney down 2.5%. S&P 500 Industrials down 0.6%, with Caterpillar down 1.3%, though 3M rose 0.6% on the Chicago PMI data. S&P 500 Materials down 1.3%, with Alcoa down 2.7%, Freeport down 3.2%, Vale down 2.2%, Barrick Gold up 0.9%. BHP Billiton (BHP.AU) ADRs at equivalent A$36.84 vs local close at A$37.65. London-listed BHP down 1.0%, Rio Tinto (RIO.AU) down 2.6%. S&P 500 Energy down 0.6%, with Nymex crude down 0.4% at US$75.63. Spot gold at US$1,241.60 vs US$1,241.60 this time Wednesday. EUR/USD at 1.2234 vs 1.2181. AUD/USD at 0.8416 vs 0.8488. LME copper up 0.3%, zinc up 2.8%, aluminum up 1.6%, nickel up 3.6%. S&P/ASX 200 last 4301.5. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires June 30, 2010 19:28 ET (23:28 GMT)