The March quarter ended with further positive US economic data. Personal spending rose by 0.8% in February, and March’s Michigan confidence figure rose to 76.2 from 75.3 to reach the highest level in eleven months.
The Dow rose 66 points on Friday, or 0.5%, but the Nasdaq fell 0.1%, and the S&P 500 gained 0.4% to 1408. The S&P and Nasdaq finished up 12% and 20% respectively for the quarter.
London traders saw book-squaring in base metals on Friday night, with nickel up 3%. The oil markets were relatively quiet, with West Texas up US24c to US$103.02/bbl.
US dollar index was a little weaker at 78.99, while the Aussie dollar was also down 0.2% to US$1.0358. Gold closed up US$8.10 to US$1668.70/oz.