Australian stocks drop, led by commodities

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Source: Dukascopy Bank
Australian shares declined further on Friday, pushed down by miners and energy firms as commodity markets weakened. Australia's benchmark index fell 0.75% or 33 points and closed at 4,396.00. Woodside Petroleum dropped 2.2%, Origin Energy deteriorated 2.2% and Santos lost 3%. Caltex Australia slipped 1% after the Australian Competition and Consumer Commission said it has started an investigation into the sharing of price information among gasoline retailers. 

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Fri, 04 May 2012 11:15:25 GMT

Euro Zone's services and production output contracted in April

Euro Area production and services output declined more than predicted in April, indicating the region continues to deteriorate. The composite index estimating both sectors fell from 49.1 in March to 46.7 in April, Markit Economics reported today. The latest drop is the fastest since October 2011. Euro stayed lower after the news. 

Fri, 04 May 2012 10:34:53 GMT

Hang Seng index falls ahead of upcoming US nonfarm payroll report

Hong Kong's shares prolonged downward trend on Friday weighed down by  energy firms as US oil futures and metal prices tumbled. Asian investors remained cautious ahead of upcoming US nonfarm payroll report. Hang Seng index dropped 0.78% or 164.79 points and settled at 21,084.74 with technology sector fading most. Cnooc Ltd sank 1.3% and PetroChina Co fell 1.6%. Aluminium Corp.

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