1. Oil&Gold-19.11.2012
On Friday, crude oil for December delivery added 1.4% or $1.22, settling at $86.67
per barrel, marking the highest settlement since 6 th November, amid supply
worries, as Israel extended its bombing of Gaza while Palestinian missiles struck
areas around Jerusalem for the first time in decades and fired at Tel Aviv for a
second day. Further, an oil platform fire in the US and news on Iran inching near to
developing weapons-grade uranium helped in extending gains. However, an
unexpected fall in the US industrial production for October and rising US oil
stockpiles capped gains.
Gold for December delivery added 90 cents to settle at $1,714.70 an ounce on
Friday, as concerns over the outcome of a meeting between the Democratic and
Republican congressional leaders with President Barack Obama on reducing the
budget deficit stoked appeal of the precious metal as a refugee against economic
and political uncertainty. However, a stronger dollar following weak US industrial
production data restrained gains.
UK markets snapshot-19.11.2012
Escalating tensions in the Middle-East, European debt woes and concerns over
looming US fiscal cliff combined in dampening risk appetite and led the UK
markets to retreat on Friday, with the FTSE 100 sinking to its lowest level since
July. A profit warning from weighed on Melrose, down, 11.5%. Biggest penalty
ever levied by the US Justice Department for oil spill in the Gulf of Mexico in
2010 impacted BP, down 2.1%. A barrage of brokers’ downgrade led Pennon to
lose 4.6%. Falling metal prices took a toll on miners, BHP Billiton, Vedanta
Resources and Rio Tinto, all down between 1.3% and 2.3%. FTSE 100 plunged
1.3%, to 5,605.6. FTSE 250 fell 0.9%, to 11,577.0.