Royal Fidelity Daily Stock Market Commentary - Monday February 8, 2010

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Local Stock Market Commentary:

The week began with a moderate volume of 14,884 shares trading in the local equity market and 21 notes trading in the local bond market.

Focol Holdings Ltd. (FCL) was the leader in volume with 13,050 shares trading unchanged at $4.77. 

Commonwealth Bank (CBL)  traded 1,534 shares in the local closing unchanged at $6.99.

Doctors Hospital Health Systems Ltd. (DHS) traded 300 shares remaining unchanged at $2.55.

In the bond market, 21 FBB Series D notes traded for a par value of $21,000.

Precious Metals:

Gold closed at $1,063.60, Silver at $15.03, Platinum at $1,471.00 and Crude Oil at $71.69 a barrel.

Foreign Currencies:

Against the US Dollar, the Euro closed at 1.3659, Pound Sterling at 1.5606, Yen at 89.28 and the Canadian Dollar at 0.9307.

Stocks:

Consolidated Water Company Ltd. (CWCO) decreased by -$0.41  or by -3.09% to close at $12.88.

International Stock Market News:

U.S. stocks retreated, adding to losses from four straight weekly declines, as concern over deteriorating European government finances overshadowed analyst upgrades of Home Depot Inc., Google Inc. and Amazon.com Inc.

Asian stocks fell, dragging the MSCI Asia Pacific Index 10 percent below its January high, and the euro declined after European finance ministers failed to announce detailed plans to tackle budget deficits in the region.

European stocks rebounded from the biggest weekly drop in 11 months as investors snapped up food and mining companies and a technical indicator showed equities may have fallen too far.

Crude oil rose back above its 200-day moving average after falling below this indicator for the first time since September 2008.

The Dow Jones Industrial Average declined by -103.84 points or -1.04% to close at 9,918.07 on a volume of 216.24 million shares.

The top advancers today were Home Depot and Hewlett-Packard. The top decliners today were IBM, Travelers Cos In, United Tech Corp and 3M Co.

iShares MSCI Emerging Markets Index fell by -$0.37 or by -0.99% to close at $36.83.

The Standard and Poor's 500 Index decreased by -9.45 points or -0.89% to close at 1,056.74.

The Financial Times 100 Index in London rebounded by +31.41 points or by +0.62% to close at 5,092.33.

NIKKEI  225  Index tumbled by -105.27 points or by -1.05% to close at 9,951.82.

Note: Bloomberg used as source for international data