|
|
|
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... |
Shanghai Rebounds
Jun 25, 3:54 AM EDT |
|
| Prices of prodction materials fall 0.5%. Chinese insurers pay Rmb 339 million. |
|
| 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. |
|
|
Full Story... |
Tokyo Stocks Fall, Exports Rise
Jun 25, 3:32 AM EDT |
|
| Sumitomo Mitsui Banking Group participates in Barclays $9 billion offering. Exports in May rose faster than expected. |
|
| 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%. |
|
|
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... |
Fed Holds Rate, Oil Falls
Jun 25, 5:53 PM EDT |
|
| 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. |
|
| 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. |
|
|
Full Story... |
MasterCard Rises 5%, Monsanto Falls 6%
Jun 25, 11:47 AM EDT |
|
| Ahead of rate decision, U.S. stocks are trading higher. MasterCard rose after it agreed to pay $1 billion to American Express. Monsanto declines. |
|
| 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. |
|
|
Full Story... |
Barclays Raises $9 B
Jun 25, 3:59 PM EDT |
|
| Barclays, the fourth largest UK bank announced a plan to raise $9 billion after its required capital ratio fell below the long term target. |
|
| 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. |
|
|
Full Story... |
Rio Doubles Ore Prices, BHP Raises Reserves
Jun 24, 12:56 AM EDT |
|
| Australian stocks edge higher after BHP lifted its estimate of mineral reserves at its mines in Western Australia. |
|
| Australian stocks edged higher after Rio Tinto and Chinese and Japanese steel companies agreed to a price hike of 100% for iron ore shipments. Separately, BHP increased its estimate of mineral reserves in Western Australia. Perilya rejects merger proposal with CBH after the company revised its estimate at Broken Hill mine and lack of support from note holders. |
|
|
Full Story... |
Iron Ore Prices Soar, Steelmakers Decline
Jun 24, 5:07 PM EDT |
|
| Stocks in Japan fell after steelmakers agreed to a sharply higher iron ore prices from Australia. |
|
| Rio Tinto and steelmakers in Japan and China agreed on iron ore price increase of as much as 100%. The iron ore, which is not actively traded on any exchange and prices are reviewed on annual basis by customers with miners. Rio Tinto hopes to sell between 320 and 420 million tons at a revised price from the current production of 200 million tons. Nippon Steel, Kobe Steel and JFE Holdings fell between 2% and 3%. |
|
|
Full Story... |
11
12
13
14
15
16
17
18
19
20
 |
|
