12 August 2010

Financial Market Team update (English, 12 Aug 2010)

13:37 ET

Yesterday, the S&P 500 and the DJIA reached their lowest level since July 23. Today, both have been trading steadily below yesterday's close. At the end of the day, the FTSE100 managed to pare earlier losses. Major American, European and Asian markets fell today, continuing yesterday's trend.

After reaching a 15-year high, the yen is being closely monitored by Japan's central bank although no specific action has been mentioned.

Oil continues to fall for the fifth straight day. Gasoline futures reached a five-week low. Gold continues to rise and has reached its highest for a month. Floods in Pakistan are making sugar prices climb since 200,000 acres of cane were destroyed.

Patrick Signoret and Georgina Lara

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