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IKB Gets Another 1.5 B Euros
Feb 13, 5:06 PM EST |
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| Germany will cotribute 1.5 billion euro to struggling IKB bank, hurt by losses in subprime loans, totaling aid of 7.7 billion euros. |
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| L''Oreal reported 8% rise in sales to 17 billion euros and 11% increase in earnings, after excluding one-time gains, to 2.04 billion euros. International sales and new fragrance launch under the Diesel brand contributed to sales. Stora Enso fourth quarter loss of 135.3 million euros and plans to close more paper mills in Helsinki. Hochtief AG, German construction company, reported annual profit of 140 million euros. |
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Nasdaq Up 2.3%; Yahoo and News Corp
Feb 13, 4:43 PM EST |
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| Tech stocks lifted on earnings from Applied Materials helped Nasdaq to close up 2.3%. |
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| U.S. stocks edged higher after January sales increased 0.3%, surprising the market. Weekly inventories of Crude oil rose at the end of the last week. Coca Cola earnings increased on the gains in the emerging markets. Deere reported higher sales on rising sales. Blue Nile fell 15% after it forecasted flat results for the current quarter. P F Changs, Chinese restaurant chain, edged higher on better than expected sales. News Corp and Yahoo are discussing ways to tackle Microsoft bid. |
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Soft Housing Market, Unemployment Falls
Feb 13, 3:42 PM EST |
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| British Energy led the gainers in the FTSE 100 index stocks after reporting 18% decline in earnings in the last quarter. |
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| UK housing market survey indicated continued soft market conditions according to a survey published by RICS. January survey indicated declining housing prices and rising inventories of unsold homes in January, except in Scotland. Home builders and lenders fell after the report. Unemployment fell in January by 0.2%according to ONS report, a consecutive 16-month decline. |
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Shipping Lines Surge on Rate Hikes
Feb 13, 12:58 PM EST |
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| Banks in Japan reported a sharp increase in loan losses related to U.S. sub-prime loans at the end of December. |
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| Corporate Goods Price Index in Japan increased to 3% in January from 2.6% in December on the rising fuel and food prices. Financial Services Administration in Japan reported that sub-prime loan exposures to the U.S. loans of Japanese banks increased in January to 1.52 trillion yen and losses in last quarter ending in December rose to 600 billion yen. Shipping line companies gained on the talks of freight charge increases. |
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Realty Stocks Lift Sensex
Feb 13, 12:45 PM EST |
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| Stocks in Mumbai trading edged higher after a rally in real estate and banking stocks. Tata Steel led the Sensex stocks. |
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| Mumbai market rebounded after a week of volatile trading. Banks, real estate, and energy related stocks gained. Sensex gained 2.1% to close at 16,949.14 and Nifty increased 1.9% or 91 to close at 4,929 levels. The BSE realty index surged 4.4% or 396 and was the biggest gainer among the sector indices. Unitech, Puravankara, Anant Raj Industries and Housing Development & Infra were the leading gainers. |
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U.S. Stocks Rise on Retail Sales
Feb 13, 11:36 AM EST |
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| January retail sales data lifted stocks in the morning trading. The surprise rise of 0.3% in January helped retail and consumer stocks. |
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| Retail sales in January rose 0.3%, unexpectedly, lifting retail and consumer related stocks in the morning trading. weekly inventories report of crude oil showed a rise inventories by 1.1 million barrels. Deere sales and earnings rose above expectations and Coca Cola earnings rose on international sales. Online jeweler Blue Nile fell 15% after it reported lower than expected earnings rise. |
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