|
|
|
U.S. Stocks Surge on Retail Sales, Oil Up $5
Jun 05, 5:05 PM EDT |
|
| From technology, energy to retail sector, stocks gained ground. Crude oil jumped $5.43 a barrel and natural gas and gasoline gained more than 4%. |
|
| U.S. stocks surged after same store sales data showed healthy gains at large retailers. Wal-Mart and Costco reported higher than expected sales gain in May lifting stocks across various industries. A sharp rise in crude oil price of more than $5 per barrel lifted stocks energy complex companies. The ECB and Bank of England left interest rates unchanged and issued tougher outlook on inflation. Brazil, Argentina and India surged more than 2.5%. |
|
|
Full Story... |
Insurance Claims of Rmb 233 million
Jun 05, 4:00 PM EDT |
|
| Chinese insurance companies have received 222,000 insuranc claims from the recent earth quake. |
|
| Stocks in Hong Kong rose as a retreat in oil prices relieved pressures on oil refiners. Recovering telecommunications stocks also positively impacted investor sentiment. However, price controls for coal producers affected mainland stocks. In Hong Kong trading Hang Seng Index rose 0.55% or 132.04 at 24,255.29 and in Shanghai CSI 300 Index fell 0.98% or 34.78 at 3,512.14. |
|
|
Full Story... |
Financials Struggle in Japan
Jun 05, 3:40 PM EDT |
|
| Nitto Boseki Co. led advancers in the Nikkei 225 index shares with a rise of 7.66% followed by increases in Yokohama Rubber of 6.99%. |
|
| Japan stock indexes declined after Lehman Brothers cuts its rating for the financial services sector in the wake of rising credit costs. Falling crude oil and metal prices widened losses. In Tokyo trading Nikkei 225 fell 0.65% or 94.45 to 14,341.12, and the broader Topix Index dropped 0.4% or 6.02 at 1,424.45. |
|
|
Full Story... |
Sensex Rebounds
Jun 05, 2:47 PM EDT |
|
| Sensex index recovered after a three-day sell-off. Trading volume on two stock exchanges surged to 20,000 crore rupees. |
|
| Indian shares recovered after losses of three days in a row of selling. The 30-share BSE Sensex gained 1.6% or 254.93 15,769.72. On the National Stocks Exchange, the S&P CNX Nifty surged 2% or 91.35 to 4,676.95. Infosys jumped 5.9% to 1,979.70 rupees on the media reports that the firm is looking for acquisitions in Europe. Reliance Communications rose 1.3% to 547.15 rupees on news reports that the firm and South Africa''s MTN. |
|
|
Full Story... |
ECB Rates Unchanged, Credit Agricole Discount
Jun 05, 4:38 PM EDT |
|
| Credit Agricole prices its offering of 6 billion euros at a discount of 37% to 10.60 euros per share. |
|
| Jean Trichet said on Thursday the ECB may raise interest rates next month to combat inflation. German manufacturing orders in April declined 1.8% from a month earlier, but orders during the first four months rose 15%. French unemployment rate dropped to its lowest level in a decade, reaching 7.5% in the first quarter. The CAC 40 share index fell 0.1% and the DAX 30-share index declined 0.4%. Credit Agricole prices its stock at a discount. Credit Agricole prices its offering of 6 billion euros. |
|
|
Full Story... |
BOE, ECB Leave Rates Unchanged
Jun 05, 4:37 PM EDT |
|
| The Bank of England left its key rate unchanged at 5% and the ECB left rates at 4%. Euro and pound gained against dollar. |
|
| The Bank of England and the European Central Bank left the rates unchanged at 5% and 4% respectively. The rising inflation in the region has left central bankers worried. Unlike the Fed in the U.S., central bankers in Europe are more focused on inflation. Separately, retailer Wm Morrison reported 7% rise in sales in the first quarter but home prices fell in May. Stocks in London trading rose with the FTSE 100 index gaining 0.4%. |
|
|
Full Story... |
Verizon Buys Alltel; TPG, Goldman Gain $1.9 B
Jun 05, 10:45 AM EDT |
|
| Private equity buyout firms expect to make at least $1.9 billion in less thirteen months on the sale of Alltel to Verizon Wireless. |
|
| Verizon Wireless agreed to acquire Alltel Corporation, a rural telecom operator with 13 million customers. Verizon will pay $5.9 billion in cash and $22.2 billion of estimated debt. TPG and Goldman Sachs controlled fund have agreed to sell the company that they purchased for $24.2 billion less than thirteen months ago with only $4 billion in equity. |
|
|
Full Story... |
1
 |
|
