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U.S. Stocks Up, Apple Falls
Jun 09, 4:39 PM EDT |
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| Safaricom Ltd, the largest mobile telecom operator in Kenya surged nearly 50% on its first day of trading. |
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| The U.S. market indexes closed higher after an index of pendig home sales rose in April. The unexpected rise in the index lifted broader market averages. Lehman Brothers priced its $6 billion offering at a 13% discount and reported its quarterly loss of $2.8 billion. McDonalds reported same store sales surged on higher sales in Europe and Asia. European markers closed mixed but markets in Asia closed lower. Apple fell after it expects lower share of monthly subscription revenue. |
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Stocks in Japan and Asia Fall
Jun 09, 3:28 PM EDT |
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| Market indexes in Japan and in Asia fell after U.S. unemployment surged to 5.5% and crude oil surged and closed record high. |
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| Stocks in Japan and Asia fell tracking the losses in Friday trading in the U.S. Coincidence Index, a measure of current economic activity in Japan fell but an index of leading indicators showed a gain. Economy in Japan has been facing rising food and energy prices and stagnant wages. Resona Holdings led decliners in the Nikkei 225 index shares with a fall of 5.2% followed by losses of 5% in JFE Holdings and in Nomura Holdings, in Tokyo Electron of 4.8%, and Sumitomo Heavy Industries of 4.6%. |
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European Stock Diverge in Weak Trading
Jun 09, 2:30 PM EDT |
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| Market indexes in Europe diverged in weak trading. Banks, real estate and financial stocks closed lower but industrial and mining sectors closed up. |
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| European markets edged lower in the region but market indexes in Germany and France closed higher. German export in April rose 14% and imports increased 11.7% in month as the robust demand from the Middle East and rising crude oil prices. Among the DAX 30 index stocks, Volkswagen led the gainers with a rise of 2.6% and MAN led the decliners with a fall of 4% on a downgrade from a broker. |
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UK Output Price Index Up, Stocks Fall
Jun 09, 3:33 PM EDT |
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| UK index of producer prices surged 8.9% in May after rising at a rate of 7.6% in April. |
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| UK stocks fell after the release of May producer price index. The index in May surged 8.9% after rising at 7.6% rate in April. Rising input costs forced several manufacturers to raise prices in the domestic market. In addition a private report on home prices indicated that home owners may have to wait till the year 2017 before home prices will recover in the UK. Of the FTSE 100 index stocks, 71 declined and 29 increased. |
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Record Crude Oil Drag Sensex Lower
Jun 09, 3:31 PM EDT |
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| Stocks in Mumbai trading fell sharply after crude oil reached a record high. Analysts in Europe and in the US are estimating a price of $200 a barrel. |
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| Stocks in India fell on a sharp rise in crude oil prices. Israel threatened to attack Iran and lifting a specter of crude oil price as high as $200 a barrel in the near future. India imports nearly 70% of its crude oil needs and rising prices only stoke inflation that is running at a four-year high. Reliance Communication and the South African wireless telecom, MTN are expected to announce swap ratio of stocks. |
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U.S. Stocks Rise, Techs Decline
Jun 09, 11:36 AM EDT |
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| McDonald's May sales rose 7.7% on nearly 10% rise in sales in Asia and Europe. |
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| U.S. stocks edged higher in the morning despite a large loss from Lehman Brothers. Lehman also raised $6 billion through common and preferred stocks offering at a discount to its closing price on Friday. CIT, received $3 billion in cash investment from Goldman Sachs. Tech stocks fell but resource and energy stocks rose in New York. Asian markets closed lower and European markets inched lower. |
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European Stocks Decline, German Exports Rise
Jun 09, 12:10 PM EDT |
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| German exports rose 14% in April and imports increased 11.7% in the month. |
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| European market recovered in the morning trading but lost ground after the release of loss at Lehman Brothers. The U.S. banker reported a loss of $2.8 billion and raised $6 billion at $28 per share price, a discount of 13% from Friday closing price. European banks and insurance companies fell. |
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