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Centro Properties Sale Likely, ASX May Fall
Jan 02, 6:24 PM EST |
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| Australian stocks are likely to fall in early trading in Thursday after a weak close in the U.S. and Europe. |
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| ASX 200 Index edged higher on a weak rise in metal and mining stocks. ASX 200 gained 0.2 to close at 6,353.20. BHP and Rio Tinto edged higher. centro, the troubled mall operators and financial services company edged higher after the company said that several bidders are interested in company assets. Lion Nathan received government approval to purchase Tasmania based brewer J Boag. Felix Resources agreed to sell utilities led by Korea Electric Power 10% of the company. |
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European Markets Edge Lower
Jan 02, 6:13 PM EST |
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| Rising energy and precious metal prices added impetus to the worries related to inflation and slowdown in the U.S. European markets fell. |
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| A weaker than anticipated U.S. manufacturing report in December left most markets in Europe lower. DAX Index in Germany led the decliners in the region with a loss of 1.5% followed by losses in France of 1.1%, and in the UK of 0.6%. Nokia, Ericsson, and ArcelorMittal fell on the munting worries of U.S. growth recession. Technology and construction stocks fell but energy stocks rose. |
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Gold and Oil Record High
Jan 02, 5:58 PM EST |
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| Gold jumped $22 in the trading as investors focused on rising inflation and slowing U.S. economy. Dollar edged lower. |
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| Gold jumped $22 in New York trading to the close of $860 per ounce inching close to a record high of $873. Silver, copper and other metals edged higher too. Wheat and soubeans jumped more than 3% on the rising inflation and falling dollar. Gold jumped 31% and silver rose 22% in 2007. |
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Records in Gold and Oil; U.S. Stocks Fall
Jan 02, 5:49 PM EST |
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| Oil crossed $100 level in intra-day high. Gold reached a three decade high to $860. Wheat and soy jumped 3%. Tech stocks led the U.S. averages lower. |
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| U.S. closed lower after a steep rise in oil and gold and weak report on manufacturing sector. December month manufacturing activities declined after rising modestly in November according an index. Oil surged above $100 intra-day record high, and closed at $99.30 a barrel. Oil has risen nearly ten-fold since Dec 10,1998 when it fell to a record low of $10.72 a barrel. Tech stocks fell sharply on the worries that capital spending in the year will be lower than estimated. |
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Gold, Oil Rise; Manufacturing Decline
Jan 02, 11:25 AM EST |
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| U.S. stocks decline in the morning trading after the manufacturing report from ISI suggested a decline in manufacturing activities in December. |
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| U.S. stock averages lose nearly 1% after a weak manufacturing report for the month of December. Oil crossed $98 a barrel and gold traded above $850 level. Nasdaq led the decline in indexes with a loss of 1.5% followed by losses in Dow of 1.2% and in S&P 500 of 1.1%. Amazon.com rose 4% after an analyst at Citigroup raised its rating. |
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Hong Kong Fell, Asian Stocks Mixed
Jan 02, 9:17 AM EST |
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| China National Aviation issued a statement indicating that Singapore Air may lift its offer for Air China. |
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| Hong Kong stocks declined on the first day of trading in 2008 as investors worried on the direction of the U.S. interest rates. Hang Seng Index dropped 1.24% or 346.13 to 27,466.52. China Railway and China Communications rose more than 5% on the hopes that new construction activites will bolster revenue in 2008. Hong Kong properties stocks declined. Metals and energy stocks closed lower as prices of commodities in the region edged higher. |
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