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Global Wrap:
Nikkei Stumbles At Open
Current Futures: Dow -12.00, S&P -1.60, NASDAQ -2.00
Stock markets started off by declining slightly but as the session continues the losses are vanishing. The Nikkei was sitting at a 6.08 point loss while the Australian S&P/ASX was increasing by 24.80 points. Mizuho Financial increased 0.49 percent while electronics manufacturer Sanyo slipped 1.14 percent.
The MSCI Asia Pacific Index added 0.2 percent.
A report from Japan has shown that the economy has grown at an annual 2.3 percent pace in the three months ending in June. However, this is less than analysts had initially estimated and is slower than the 3.7 percent growth which was reported on last month. These figures show that Japans recovery from the recession might be weaker than analysts initially thought.
Overnight, the Japanese Nikkei declined 6.08 points (-0.06%) to 10,507.59. The Australian S&P/Asx advanced 24.80 points (0.54%) to 4,595.60
Crude oil for October delivery was recently trading at $71.94 per barrel, unchanged during the Asian session.
Gold for October delivery was recently trading higher by $0.20to $997.00.