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Shanghai Rebounds
Jun 25, 3:54 AM EDT |
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| Prices of prodction materials fall 0.5%. Chinese insurers pay Rmb 339 million. |
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| In Hong Kong trading Hang Seng Index gained 0.8% to 22,635.16, and the China Enterprises Index of Hong Kong listed mainland shares, or H shares, advanced 1.5% at 12,196.25. In Shanghai trading CSI 300 Index gained 4.12% or 117.62 at 2,969.54. |
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Tokyo Stocks Fall, Exports Rise
Jun 25, 3:32 AM EDT |
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| Sumitomo Mitsui Banking Group participates in Barclays $9 billion offering. Exports in May rose faster than expected. |
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| Stocks in Japan fell as the worrying economic data from U.S. took its toll on exporters. In particular consumer confidence plummeted to a 16-year low in May, while house prices declined in April. Financial stocks fell as well. Toyota worried that weak U.S. auto sales will drag its global sales. Japan’s Ministry of Finance said that exports rose for the 54th consecutive month by 3.7% to 6.8 trillion yen from a year earlier in May beating the expectations of 1.9%. |
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Fed Holds Rate, Oil Falls
Jun 25, 5:53 PM EDT |
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| The Fed left its key rate at 2%. Weekly report on the oil inventories showed a decline at the end of last week. Research in Motion Profit Doubles. |
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| The Fed left its key short term rate at 2% and cited that risks to inflation risk are rising on tighter credit conditions, rising fuel prices and falling home prices. MasterCard surged after agreed to pay $1 billion to American Express to settle its ongoing legal dispute. Research in Motion fell 7% after it reported earnings after the close. In European trading stocks rose after Barclays finalized $9 billion placement from key investors and ECB signaled a rate hike at the next meeting. |
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MasterCard Rises 5%, Monsanto Falls 6%
Jun 25, 11:47 AM EDT |
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| Ahead of rate decision, U.S. stocks are trading higher. MasterCard rose after it agreed to pay $1 billion to American Express. Monsanto declines. |
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| U.S. stocks maintained upward bias in the morning ahead of rate decision from the Fed this afternoon. MasterCard agreed to pay between $1 billion and $1.8 billion to American Express to settle its claims. Monssanto Company fell 5% after it reported third quarter earnings increase of 42% and offered annual earnings outlook that disappointed shareholders. |
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Barclays Raises $9 B
Jun 25, 3:59 PM EDT |
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| Barclays, the fourth largest UK bank announced a plan to raise $9 billion after its required capital ratio fell below the long term target. |
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| Barclays will raise 4.5 billion in a offering that will have key investors with commitments. Sovereign funds of Qatar and Singapore along with China Development Bank and Sumitomo Mitsui Banking Corporation amon other institutional investors will invest up to 4 billion at a discount of 9.3%. The current and new shareholders will be able to invest at 4.7% discount. The stock rallied in New York and London trading. |
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