Following is a list of events in Pakistan as well as news stories and press reports which may influence financial markets.
(Reuters News welcomes your feedback and for any queries please contact Robert Birsel in Islamabad editorial on +92-51 281 0017 or via email at robert.birsel@thomsonreuters.com or on Reuters messaging robert.birsel.reuters.com@reuters.net)
WHAT IS HAPPENING IN PAKISTAN, ALL TIMES LOCAL FOLLOWED BY GMT: (The inclusion of diary items does not necessarily mean that Reuters will cover the event)
* Treasury bill auction scheduled for Wednesday with a target of 60 billion rupees.
* U.S. Special Envoy Richard Holbrooke is due to meet Pakistani leaders.
MARKET SNAPSHOTS
* The rupee <PKT=> ended weaker at 84.84/89 to the dollar on Tuesday, compared with Monday’s close of 84.75/85, on high demand for dollars for imports, especially oil, as international oil prices hit a 15-month high the previous day. [PKR/]
* The Karachi Stock Exchange’s benchmark 100-share index <.KSE> ended 18.64 points, or 0.19 percent, down at 9,778.36 on turnover of 83.86 million shares. [.KA]
* The net inflow of foreign investment in the stock market was $1.34 million on Tuesday.
[http://www.nccpl.com.pk/fipi-new/index.php]
* U.S. stocks slid in a broad selloff on Tuesday as investors pummeled financials on concerns about a potential government levy on banks, while Alcoa Inc’s disappointing results tempered optimism about the economic recovery.
The Dow Jones industrial average <.DJI> dropped 36.73 points, or 0.34 percent, to end at 10,627.26. The Standard & Poor’s 500 Index <.SPX> fell 10.76 points, or 0.94 percent, to 1,136.22. The Nasdaq Composite Index <.IXIC> slid 30.10 points, or 1.30 percent, to 2,282.31. [.N]
* Oil fell more than $1 on Wednesday to below $80 a barrel, after an industry group reported an unexpected increase in U.S. distillate inventories, adding to growing fuel supplies despite the severe winter.
NYMEX crude for February delivery <CLc1> fell as much as $1.01 a barrel to $79.78, the lowest since Jan. 4. It was trading down 93 cents at $79.86 a barrel by 0338 GMT. [O/R]
* Gold was little changed on Wednesday with investors seeking the next clue to direction after a broad sell-off in commodities the previous day when China’s surprise monetary tightening drained the appetite for riskier assets.
Spot gold <XAU=> rose 0.1 percent to $1.128.75 an ounce as of 0254 GMT, compared to New York’s notional close of $1,127.95.[GOL]
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