|
|
|
Sensex Falls, Suzlon Earnings Rise
May 20, 11:57 PM EDT |
|
| Currency traders sold rupee after a sharp rise in crude oil prices on the hopes that the higher crude oil price will increase demand for dollars. |
|
| Mumbai stocks fell after the worries of the rising inflation and crude oil prices kept investors cautious. Comments from the Governor of RBI suggested that rates may be raised to combat inflation that may be higher than tracked by the indexes. Suzlon, the largest wind turbine manufacturer reported 29% rise in earnings o 69% rise in sales. Rising crude oil prices forced rupee lower to 42.59 against the U.S. dollar. |
|
|
Full Story... |
Global Markets Fall on Rising Crude, Inflation
May 20, 4:58 PM EDT |
|
| Tech, retailers and home builders fell in the U.S. trading on a sustained rise in crude oil prices. Crude oil traded above $129 a barrel. |
|
| Stocks in the U.S., Europe and Asia fell on inflation worries and rising crude oil prices. April wholesale inflation rise sparked fears of inflation in the U.S. and dragged the stocks lower. Home Depot, Saks, Target, Autozone fell on earnings. European markets declined as crude oil hovered near $130 a barrel, a new record. UK dropped nearly 3% on the worries that housing market fall may bring more losses to mortgage lenders and banks. |
|
|
Full Story... |
European Auto Sales Up, Inflation Worries
May 20, 4:32 PM EDT |
|
| Auto sales in April rose nearly 10% despite a rise in enrgy prices. Adidas fell 1.3% after it reported 3% rise in sales and 32% rise in earnings. |
|
| European markets closed lower across the region led by a sharp decline in the UK and Swedish indexes. Crude oil prices reached another record above $129 a barrel, sparking fears of sustained inflation in the region. DAX 30 index in Germany and CAC 40 index in France dropped 1.5% and 1.7% respectively. German confidence fell on worries related to strong euro and rising inflation dominated the news. Auto sales in European markets rose nearly 10% in April. |
|
|
Full Story... |
Inflation, Home Price Declines Drag UK Stocks
May 20, 4:31 PM EDT |
|
| FTSE 100 index led the European markets with a loss of 3% on rising crude oil prices, worries of higher inflation and falling home values. |
|
| Crude oil in London traded at t record high, sparking fears of rising inflation in the region. Crude oil prices have risen nearly 30% in the last three months when valued in the U.S. dollar and nearly 18% in euro. The prediction of higher crude oil prices put investors on the defensive. Commodities related stocks fell after a broker encouraged investors to trade out of the sector for now. BHP Billiton, Rio Tinto and Antofagasta fell on profit taking. |
|
|
Full Story... |
Retailers, Techs and Home Builders Decline
May 20, 4:42 PM EDT |
|
| Wholesale inflation index rose 0.2% in April and price index of metal products and crude oil rose in the month. Home Depot, Target fell on earnings. |
|
| U.S. stocks turned lower after April wholesale inflation rose. The rise in inflation put investors on the defensive. Crude oil price surged above $129 a barrel after comments from oil complex investor T Boone Pickens. His comments suggested that the crude oil price may reach higher than $150 a barrel. European markets closed sharply lower led by 2.4% fall in the UK and Sweden. Brazil and Mexico trade lower. |
|
|
Full Story... |
BoJ Left Rates at 0.5%, Nikkei Falls
May 20, 4:30 PM EDT |
|
| The Bank of Japan left its key rate at 0.5%. The demand for services in March rose 0.3%. |
|
| Stocks in Japan declined on the worries that the current U.S. credit market malaise in the U.S. could drag earnings of Japanese companies. Nikkei 225 index fell 0.8% to 14,160. According to a report issued by the Ministry of Industry and Trade, demand for services in March rose 0.3% after a revised demand increase of 1.6% in February. The Bank of Japan left its key interest rate at 0.5% and said that corporate profits are leveling and economic growth is slowing on rising commodities prices. |
|
|
Full Story... |
AIG to Raise $20 B, Home Depot Declines
May 20, 8:55 AM EDT |
|
| AIG now says that it may raise $20 billlion from its earlier plan of $13 billion. Home Depot net income fell on revenue fall of 3.4%. |
|
| U.S. stocks are expected to open lower as crude continue to climb higher and worries related to credit market resurface. European markets at mid day are down between 1% and 1.5% and Asian markets closed lower across the region. Home Depot reported sharply lower earnings on 6.5% fall in same store sales, however, DryShips revenue in the quarter jumped 62%. |
|
|
Full Story... |
1
 |
|
