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European Banks, UK Home Builders Fall
Jul 04, 5:20 PM EDT |
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| European banks and UK home builders closed sharply lower on the worries that additional capital may be difficult to raise. |
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| European stocks closed lower after crude oil traded at another record high and prospect more capital raising from European banks. Benchmark indexes in UK, France, Germany and Switzerland fell. Swedbank dropped 6% and Banco Santander lost 4%. Banks may need as much as $90 billion to meet their required capital reserves. UK stocks fell after a private equity fund decided not to proceed with investment in home builder Bradfod & Bingley. |
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Tokyo Stocks: 12th Day of Losses
Jul 04, 1:49 PM EDT |
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| Stocks in Tokyo trading fell for the 12th session in a row, longest losing streak in the last five decades. |
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| Stocks in Tokyo trading fell for the 12th day in a row. Persistent worries related to exports to the U.S., rising inflation and weak consumer sentiment drag market averages lower for the longest streak in five decades. For the week Nikkei 225 index dropped 2.3% and in the last twelve days the index declined 8.4%. Real estate stocks led the decliners. Tokai Carbon soared 12% and GS Yuasa rose 4.9%, led the gainers in the Nikkei 225 index. |
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Sensex Rebounds, Inflation Rises
Jul 04, 12:49 PM EDT |
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| Wholesale inflation rose to 11.63% and may rise to 12% as fuel prices remain high. |
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| Stocks in Mumbai rebounded on the hopes that political settlement between and Congress and a regional party may avert government collapse. Controversial nuclear agreement between the US and India has caused a rift between the Congress and communist parties and added volatility to stock market. Sensex, today rebounded 2.8% or 360 to 13,454 at close despite a rise in the latest read on inflation. |
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