Futures flat in quiet trade
SERVICES NEWS
Business Live - Jun 6th 2012, 08:48
Futures were flat in quiet trade on Tuesday‚ with markets awaiting the outcome of the G7 meeting and central banks’ rate decisions.
Near-dated futures lifted by 0.08%‚ or 22 points‚ to 29‚203.
The total number of contracts that exchanged hands was 28‚482 from 44‚410 on Monday.
The rand was trading at 8.46 to the US dollar‚ from 8.47 at its previous close‚ and the spot price of gold was at US$1‚615.85 an ounce from $1‚614.12.
Dow Jones Newswires reported that a reading on the US non-manufacturing sector came in a touch better than expected.
The ISM non-manufacturing index clocked in at 53.7 last month‚ higher than anticipated and better than the 53.5 reading in April.
The survey compiles comments mostly from service-sector companies‚ which are important because they make up the bulk of the economy.
Asian markets edged higher on Tuesday as the heavy sell-off abated in the absence of fresh negative news‚ allowing investors to look ahead to forthcoming key policy meetings‚ Dow Jones Newswires reported.
In late morning trade‚ the Dow Jones industrial average was up marginally‚ by 0.03%.
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