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European Markets Surge
Mar 25, 6:01 PM EDT |
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| The ECB provided additional liquidity but at a higher interest rate. France lowered its annual grwoth target citing global slowdown. |
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| European markets surged after a rally in the financials lifted averages across the region. The ECB provided additional liquidity in the market but at a higher interest rate than a week ago. Markets in the region surged more than 3%. Adidas lifted Reebok sales growth estimate. France lowered its annual growth rate to 1.7% from 2%. Ford is likely to announce sale of its luxury car group to Tata based in India, tomorrow. Impreglio of Italy won a water project for Las Vegas City for $450 million. |
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Weak Dollar, Stocks; Gold Rebounds
Mar 25, 4:51 PM EDT |
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| Stocks in the U.S. closed mixed on a weak consumer confidence and falling home prices. Gold surged. Stocks in Canada surged. |
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| U.S. stocks closed mixed at close after a rally of four days in a row. February consumer confidence declined to a five-year low after a persistent rise in food and energy cost and falling home prices. Separately, home prices in the metropolitan areas declined, for the thirteen months in a row. European makrets closed higher and Asian markets surged in the overnight trading. Argentina, Brazil and Mexico surged. |
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Leighton Surges, NAB Hikes Rates
Mar 25, 3:12 PM EDT |
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| Australian stock advanced following a rise in the U.S. that sparked a rally across Asia. Banks gained after NAB increased rates. |
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| Australian stocks surged as markets in Asia rallied. ASX 200 gained 3.7% or 190.0 to 5,318.40. The sharp rise in stocks in the U.S. on better than expected home sales in February and revised bid for JP Morgan lifted the sentiment in the region. NAB increased its home loan rate by 0.09% to 9.36%. Santos chief executive resigned. Leighton surged 9% after it won a $795 million contract to build pipeline for ONGC near Mumbai, India. |
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Hang Seng Surges 6.4%
Mar 25, 2:08 PM EDT |
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| China Life reported investment of $300 million, its first foreign investment, in the recently listed credit card processor Visa. |
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| Stocks in Hong Kong surged after a revised bid for Bear Stearns and better than expected home sales in February lifted U.S. stocks. Hong Kong and Indian stock market averages led the rise in Asian markets. Hang Seng Index rose 6.43% or 1,356.30 to 22,464.52. After the close, ICBC reported a sharp rise in profit. Airline stocks gained on the speculation that newly elected government in Taiwan will open direct flight routes between the country and China. |
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Nikkei Rises 2% in Asia Rally
Mar 25, 12:45 PM EDT |
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| Japan stocks rallied after February home sales in the U.S. gained and JP Morgan lifted its bid for Bear Stearns. |
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| Tokyo stocks rallied on the back of higher closing in the U.S. in Monday trading. Banks and brokerage stocks led the advancing issues. In Tokyo trading, Nikkei 225 rose 2.12% or 265.13 at 12,745.22, and the broader Topix Index increased 1.5% or 18.83 to 1,242.98. Nippon Glass forecasted 20% rise in sales and 50% surge in operating profit on higher demand in the next fiscal year. |
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Sensex Surges 6%
Mar 25, 4:26 PM EDT |
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| Investors bid stocks higher after a rally in the U.S. sparked a surge in stocks across Asian markets. |
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| Stock in Mumbai trading surged after a rally in Asia stocks lifted market averages across the region. Hong Kong and India led the region with a sharp rebound of more than 6%. Realty, banks and technology stocks led the gainers in Mumbai trading. Sensex gained 6.1% or 928.09. At close, the BSE 30 share closed at 16,217.49. Nifty gained 5.1% or 267.65 to close at 4,877.50 levels. |
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Weak Consumer Confidence and Home Prices
Mar 25, 4:30 PM EDT |
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| U.S. stocks edge lower after consumer confidence index drops to a five-year low and metropolitan home prices declines in January. |
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| February consumer confidence index fell to a five-year low as rising fuel and energy prices and falling home values affected consumers. The outlook for the next six months according to index appear to be gloomy. Home prices in February declined 10.7% from January. The two measures left U.S. market averages were lower in the morning trading hours. European markets jumped more than 2.5% and Asian markets rallied. In the overnight rally, India and Hong Kong surged above 6%. |
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