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Ericsson, Financials Lift Stocks
Apr 25, 6:23 PM EDT |
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| ProSiebenSat.1 fell 26% after it reported first quarter loss 8.5 million euros and revenue fall of 2% to 729 million euros. |
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| European markets edged higher on rising commodities, energy and financial stocks. UK reported its first quarter 2008 GDP growth of 0.4% after rising at 0.6% in fourth quarter of 2007. Crude oil futures rebounded on continued supply disruptions from Nigeria, new troules in the Middle East and BP action ahead of strike. Ericsson surged after it reported rise in sales and better than expected earnings. Valeo SA, auto parts maker rose after earnings rise on cost cutting. |
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Oil Up $2, Techs Down, Financials Rally
Apr 25, 5:27 PM EDT |
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| Crude oil futures rebounded after trouble in the Middle East, oil supply disruption in Nigeria and BP pipeline closure. |
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| U.S.stocks traded in a tight range after a hectic day of earnings. Microsoft earnings declined and issued a cautious guidance for the rest of the year. American Express earnings and revenue declined but international markets showed healthy gains. Energy producers rose after oil and commodities rebounded. Dollar traded firm against euro and pound. |
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Honda, Nomura Earnings Fall
Apr 25, 3:39 PM EDT |
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| Core consumer prices in March in Japan rose 1.2% after rising at a rate of 1% in February. |
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| Nomura Holdings reported first quarter loss of 154 billion yen compared to a profit of 33 billion yen from a year ago. The largest brokerage firm in Japan set aside $1.5 billion to cover bond insurance losses. Nomura fell 12% and dragged Daiwa Securities 9% as well. Quarterly trading revenue declined 80%. For the year 2007 Nomura reported a loss of 68 billion yen compared to a gain of 176 billion yen in 2006. |
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Weekly Gains in HK and Shanghai
Apr 25, 2:58 PM EDT |
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| Stocks in HK and Shanghai gained on rising confidence, growing earnings and return of individual investors. |
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| Stocks in Hong Kong edged lower today but surged 5.5% for the week. In Shanghai trading stocks rose 0.8% and for the week soared 16%. The reduction in stamp duty on trading in China lifted stocks for the second day in a row. Citic Securities, Haitong Securities and China Vanke led gainers in the CSI 300 index. Air China gained 4% after it reported 147% rise in earnings. Yunnan Copper full year profit declined 47% in 2007. Bao Steel is looking to raise $8.5 in international offering. |
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Bharti Airtel, Idea Cellular Lift Stocks
Apr 25, 5:08 PM EDT |
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| Stocks in India closed higher on rising earnings from Airtel, Idea Cellular. Ambuja Cement and ACC fell. |
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| Stocks in India closed higher on earnings and despite rising inflation.
Bharti Airtel gained 9% to 920.10 rupees and led gainers in the Sensex index. The company reported 39.3% rise in net profit to 1,792.30 crore rupees on 41.8% increase net revenues to 7,446.82 crore rupees in the fourth quarter. Ideal Cellular rose 4.7% to 107.80 rupees. The company posted 44.6% rise in net profit to 278.20 crore rupees on 50.7% increase in net sales to 1,972.40 crore rupees in the fourth quarter. |
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American Express, Baidu Rise; Microsoft Declines
Apr 25, 5:09 PM EDT |
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| American Express jumped after it reported lower than expected decline in revenue and earnigs and lifted stocks of Visa and MasterCard. |
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| Tech stocks fell after a cautious outlook from Microsoft. Microsoft earnings declined 11% to $4.39 billion on nearly flat revenue of $14.45 billion. Weak guidance for the current quarter dragged the stock lower 6%. However, American Express surged 4% after it reported 11% decline in revenue and earnings. Baidu.com revenue soars 108% from a year ago. |
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Credit Suisse Up, Business index Declines
Apr 24, 5:32 PM EDT |
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| European markets rallied lifted by financials and insurance companies. Credit Suisse reported a loss of Sfr 2.14 billion. Gaz de France gains 2%. |
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| European stocks market averages gained on a rally in financial stocks. Credit Suisse statement that for now it has adequate capital despite a large loss at the end of the first quarter lifted stocks in the sector. Futures of metals, energy and commodities generally declined. Gold fell below $900 per ounce. European business climate index fell on the rising worries related to global economic conditions and inflation in raw material prices. |
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Apple, Credit Suisse Spark Broad Rally
Apr 24, 4:43 PM EDT |
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| Stcoks rallied after techs, consumers, financials and insurance companies edged higher. Apple, Credit Suisse and Merrill Lynch jumped more than 5%. |
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| U.S. stock market averages rose after a rally in financials, insurance and select tech stocks. Apple lifted tech stocks after it reported sharply higher sales and earnings. Credit Suisse reported higher than expected loss but said for now it does not need to reaise capital. Merrill Lynch is not planning to cut its dividend. T Rowe Price, Aflac and Travelers rose after earnings. In Asia China surged 9% and Switzerland led gainers in Europe. |
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Persimmons, Home Builders Decline
Apr 24, 4:35 PM EDT |
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| In London trading FTSE 100 fell 0.54% or 32.9 to 6,050.70. UK home prices fell in March and are likely to fall furhter on tight lending conditions. |
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| UK home prices declined by 2.5% in March from February but were 1.1% higher than a year ago. For the month, the standardised house price was at £191,556. UK prices have increased 171% over the past ten years and 51% over the last five years and the average UK home price has risen by £120,860 during the past decade from £70,696 to £191,556. Separately, home builder Persimmons reported in its interim report that tight mortgage lending has affected sales and a rise in cancellations. |
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Financials Lift Dow and S&P 500
Apr 24, 4:33 PM EDT |
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| Insurance companies and investment bankers edged higher after Credit Suisse reported a loss. Aflac and Travelers earnings lifted the sector. |
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| U.S. stock averages advanced after a steady rise in financials and insurance stocks. Merrill Lynch surged 10% after it said that it will not cut dividend. Credit Suisse edged 5% higher after it swung to $2.2 billion loss and said that for now it may not need to raise capital. Stocks of T. Rowe Price and Aflac gained on better than expected earnings. |
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