Business

Friday gains pared

07:05 am on 30 May 2011

Stocks in the United States pared their gains on Friday, after pending home sales fell far more than expected in April.

The Dow Jones Index closed up 38 points, or 0.3%, to 12,441 on Friday.

The Nasdaq Composite closed up 13 points, or 0.5%, at 2796.

US markets are closed on Monday for Memorial Day.

The Australian 200 Index closed on Friday up 23 points, or 0.5%, at 4683.

The NZX 50 closed flat, up less than one point at 3527.

The New Zealand dollar held steady over the weekend. At 6am on Monday, it was trading at 81.95 US cents, 76.55 Australian cents, 49.63 pence, 66.2 yen and 0.5722 euro. The Trade Weighted Index was at 70.61.

Brent crude oil was trading at $US116.04 per barrel and gold was trading at $US1534.85 per ounce.