|
|
|
Sensex Rebounds, Weak Footing
Jun 26, 3:49 AM EDT |
|
| Sensex rebounded but technical indicators showed weakness in the bounce. Crude oil surged in the U.S. to a new record. |
|
| Stocks in gained after a week of decline on rising inflation and economic slow down. Sensex in Mumbai rose 1.4% to 14,421. State Bank of India increased its lending rate following a recent increase in interest rate by the Reserve Bank of India. Rupee against dollar contiue to trade lower as crude oil price trade near record level. Stocks in India and Asia are likely to fall on a record high closing of Crude oil in New York. |
|
|
Full Story... |
Global Plunge: US, UK, Brazil Down 3%
Jun 26, 5:40 PM EDT |
|
| Crude oil surged above $140 a barrel after comments from Libya suggested near term price may reach above $150 a barrel. |
|
| The popular indexes Dow, Nasdaq and S&P 500 dropped as investors worried that assset write downs at banks and financial brokers may increase sharply. Goldman Sachs estimated Citigroup to write down $9 billion this quarter and Sanford Bernstein projected a quarterly loss for Merrill Lynch. Stocks in consumer and financial sectors closed sharply lower. UK, Brazil, Spain, Holland, Sweden fell near 3% and all markets in South America and Europe closed lower on the weakness in New York. |
|
|
Full Story... |
Toyota, Nissan Production Up; Stocks Down
Jun 26, 5:01 PM EDT |
|
| Toyota and Nissan increase global prouction as they lower manufacturing in the U.S. and increase small car production in China. |
|
| The Bank of Japan policy committee member cautioned that rising prices for consumers may dampen spending and shift spending pattern. The comments suggested that low interest environment in Japan may be necessary to accommodate consumers. Tokyo Electric may report larger than estimated loss in the first half as it struggles to restart recently damaged nuclear power plant. J-Power plunged after shareholders rejected dividend increase proposal from an activist shareholder TCI. |
|
|
Full Story... |
Shanghai Rebounds, HK Stocks Falls
Jun 26, 3:40 PM EDT |
|
| Hong Kong stocks traded lower as inflation fears persist in the region and U.S. credit market jitters drive investors on the sidelines. |
|
| Regulators in China urge companies to improve their corporate governance and prevent the abuse of company capital by majority shareholders. Stocks in Shanghai and Hong Kong fell as inflation fear persist on rising energy costs. Crude oil price fell in the region. Foxconn fell 5% and Li & Fung dropped 7% on brokerage downgrades. Hong Kong companies are expected to cut production in China located factories on rising fuel and labor costs. China Development Bank takes a stake in UK based Barclays. |
|
|
Full Story... |
Dexia, Hype Real Estate Drop 8%
Jun 26, 3:03 PM EDT |
|
| Financial, real estate and insurance companies declined sharply after Goldman Sachs revised its estimate of losses at Citigroup. |
|
| European stocks fell sharply on rising expectations of inflation, higher estimates of losses at banks and continued decline in the U.S. markets. Indexes in Germany and France dropped nearly 2% as the U.S. indexes lost more than 3%. Hypo Real Estate and Dexia led the decliners in DAX 30 and CAC 40 indexes respectively with a loss of 8.4%. Gold surged on weak dollar. |
|
|
Full Story... |
FTSE Declines; Inflation, Write Down Worries
Jun 26, 2:32 PM EDT |
|
| UK stocks led the decliners in the European markets with FTSE 100 index closing down 2.6%. |
|
| UK stocks declined after the BOE Governor King projected higher inflation for the rest of the year. Rising fuel and food prices are stoking higher inflation expectations. UK and European markets fell between 1.5% and 2.5% after analysts revised estimate of asset write downs at the U.S. banks higher. Barclays and Royal Bank of Scotland dropped more than 3% and HSBC declined 2%. |
|
|
Full Story... |
Dow, Nasdaq and S&P 500 Down 2%
Jun 26, 12:10 PM EDT |
|
| U.S. stocks fall after worries related to consumer and financial stocks dragged indexes lower. GM, RiM, Citigroup and Merrill drop sharply |
|
| U.S. stocks accelerate their decline after analysts revised their estimates of asset write downs and losses at banks and brokerages. Goldman estimates current quarter asset write down at Citigroup of $8.9 billion and Sanford Bernstein projects a loss of 93 cents per share compared to 82 cents a share profit a year ago. General Motors led the decliners in indexes after a sell recommendation from Goldman Sachs. |
|
|
Full Story... |
Citi, Merrill Estimates Cut; RiM, Nike Drop
Jun 26, 11:07 AM EDT |
|
| Research in Motion and Nikel fell after reporting earnings. RiM revenue rose 52% and net income increased 54% in the first quarter. |
|
| U.S. stocks fell sharply after Goldman Sachs esitmated second quarter asset write down at Citigroup of $8.9 billion, Sanford Bernstein estmated a loss compared to profit at Merrill Lynch. Citigroup fell 5% and Merrill dropped 3%. Separately the final read on the first quarter economic growth was revised higher to 1% from 0.9% and existing home sales in May rose 2% and average home prices fell 6.3% in the month. The U.S. dollar edges lower and crude oil and gold rises. |
|
|
Full Story... |
UK Stocks Rise, Barclays £4.5 B Offering
Jun 26, 2:27 AM EDT |
|
| Barclays, for months refusing that the bank needs capital finalized a plan to raise $9 billion from key investors. |
|
| London stocks rose marginally driven by financial stocks after Barclays announced a rights issue to boost its capital base from investors including Qatar Investment Authority, China Development and Sumitomo Mitsui Banking Corp. In addition, retailers gained as Qatar Investment Authority upped its stake in Sainsbury to 25.3%. |
|
|
Full Story... |
Sensex Rises After Rate Hike
Jun 26, 1:55 AM EDT |
|
| Stocks in Mumbai trading rose after the Reserve Bank of India increased rates to calm roaring inflation. |
|
| Stocks in India rose after a surprise rate hike for the second time by the Reserve Bank of India. The central bank hiked interest rate by 0.5% and increased the bank deposit ratio 0.5%. The twin move to increase rate and deposits are expected to calm the inflation that has roared above 11%. Commercial banks are expected to increaes lending rates soon. |
|
|
Full Story... |
1
 |
|
