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Australian Stocks Decline on Global Worries
Jun 12, 6:19 PM EDT |
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| Leighton secures $385 million contract to build a 62 story tower in Palm island, Dubai. |
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| Global weakness in financial stocks and a rise in inflation stoked by sharp rise in crude and food prices dragging the index lower. ASX 200 index lost 2.5% or 138.1 to close at 5,329.20. The Preliminary market turnover was 1.93 billion shares worth $6.46 billion, with 965 stocks down, 322 up and 328 unchanged. BHP dropped 4% after it advanced the rebuild schedule for a nickle smleter in Kalgoorlie. |
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Stocks in Japan Fall, Global Inflation Worries
Jun 12, 5:43 PM EDT |
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| Stocks in Japan closed lower on the worldwide rise in inflation and central banks increase rates. Exporters declined. |
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| Japan market averages dropped led by exporters and steelmakers on mounting concerns over the health of the global economy as India and South Africa increased its key rate and oil prices rebounded to a record high. In Tokyo trading Nikkei 225 fell 2% to 13,888.60. JFE Holdings led decliners in the Nikkei 225 index shares with a drop of 6.70% followed by losses in Nikon Corp. of 5.60%, in Kawasaki Kisen of 5.57%, in Daiwa House Industries of 5.51%, and Sompo Japan Insurance of 5.28%. |
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Stocks Rise on Retail Sales, China Surplus Falls
Jun 12, 5:28 PM EDT |
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| Yahoo and Microsoft formally ended talks after Microsoft withdrew its offer of $33 per share. Yahoo plunged 12% on heavy volume. |
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| U.S. stocks closed higher after May reail sales rose at 1% from April and 2.5% from a year ago. The better than expected gains lifted the moood on Wall Street and market indexes rebounded after mid-day losses in Europe. Lehman Brothers replaces its chiefs of finance and operations, the stock falls on heavy volume to recent low in March. South Africa raised its interest rate by 0.5% to 12%. InBev made an unsolicited offer for $46 billion for Anheuser-Busch. china trade surplus falls. |
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Banks Rebound in European Trading
Jun 12, 5:21 PM EDT |
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| European market indexes gained after a rise in stocks in the U.S. Better than expected retail sales in the U.S. lifted the indexes. |
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| European stocks recovered from the mid-day losses after a rise in the U.S. market indexes. UK, Swiss and German market indexes rose 0.7% and led the trading in the region. InBev surged 6% after it offered to buy U.S. based Anhreuser-Busch for $46.3 billion. Anheuser gained 5% but closed 10% below the offered price. Banks in Germany and France closed higher. |
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Yahoo Plunges 13% on Heavy Volume
Jun 12, 5:20 PM EDT |
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| Yahoo plunges 13% on a sharply higher volume after it ended merger talks with Microsoft which lasted five months. |
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| Yahoo! Inc ended its formal talks with Microsoft after both parties could not decide on a price. Microsoft has withdrawn its offer of $33 per share. Both parties also could not agree on using Microsoft search technology on Yahoo website network. Yahoo and Google are likely to announce a search pact that will facilitate search on Yahoo websites as early as today. |
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Inflation Rise in China, Trade Surplus Declines
Jun 12, 3:12 PM EDT |
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| Stocks in Hong Kong and Shanghai fell after the release of consumer price index for May. Trade surplus in May declined. |
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| Hong Kong and Shanghai stocks fell as inflation remain at elevated levels and trade surplus declined. China reported consumer price index rose 7.7% in May from 8.5% in April. The National Bureau of Statistics also noted that the producer price index advanced 8.2% from a year ago in May from 8.1% in April. Total trade surplus for the first five months ending in May for China fell 8.6% to $78.02 billion from a year earlier, and the trade surplus dropped 9.9% in May to $20.21 billion. |
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Stocks Rise on 1% Gain in Retail Sales
Jun 12, 5:19 PM EDT |
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| U.S. stocks gained after the retail sales rose 1% in May, beating the expectations of 0.5% rise. |
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| U.S. stocks advanced in the morning trading after a better than expected rise in retail sales in May. Sales rose 1% in May and increased 2.5% from a year ago. Weekly claims of unemployment rose 25,000 at the end of last week. The news of better than expected rise in retail sales lifted the U.S. stocks higher. Lehman replaces its finance and operating chiefs, the stocks falls. European stocks edged higher after an unsolicited bid from InBev for Anheuser Busch. |
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InBev Offers $46.6 B for Anhesuer Busch
Jun 12, 9:14 AM EDT |
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| Mining stocks and oil shares advanced in London. HBOS, the U.K.'s biggest mortgage lender, climbed 5.3% to 271.75 pence. |
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| InBev, the Belgian-Brazil beer giant offered $46.6 billion for Anheuser Busch. The deal values the company at $65 per share, a premium of 14% from the closing price on Wednesday. Oil advanced more than $5 a barrel yesterday and boosted energy producers. European markets edged higher, led by 0.6% rise in the UK stock index. |
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