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FX.co ★ Death of bin Laden led to the growth on the financial markets

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Forex Humor:::2011-05-16T10:10:00

Death of bin Laden led to the growth on the financial markets


The world’s stock markets responded by the general increase to the news about the death of al-Qaeda head Osama bin Laden, which was released on May 1 by Barac Obama, BBC News reports.
S&P 500 index futures 0.7 % increased. The MSCI Pacific Index grew up by 0.3 %. Nikkei index also closed with upturn.
The precious metals prices decreased: gold dropped almost 30 dollars and reached the level of 1546. Silver became cheaper by 10%, now costs 42.58 dollars.
Oil prices lost more than 1%. Brent oil fell down by 78 cents and stopped at the level of 125.11 dollars. However, Bloomberg notes that this is related to the gain in oil yield by Saudi Arabia.
BBC reports that bin Laden’s death should urge the consumption in the USA and reduce the level of threat to the national security. Nevertheless, this event will not have long affect on the stock markets and oil prices.

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