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HK Stocks Decline, Shanghai Up
May 05, 4:56 PM EDT |
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| Telecom stocks fell as speculation of management changes at China Unicom and China Mobile dominated trading desks. |
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| China permitted more companies to open investment management operations, however the companies remained cautious. April consumer price inflation in China is expected to be near 8%, lower than in March and February. Angang Steel jumped 4% on the reports that Arcelor Mittal and Angang are in discussions to explore merger or stake sale. Retailer Maoye International fell below its offering price of HK$3.10 on its first day of trading. |
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Stocks Fall; Yahoo, Microsoft Talks Fail
May 05, 10:05 AM EDT |
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| Countrywide fell 13% on the speculation that Bank of America may abandon the purchase of severly change the deal terms. |
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| U.S. stocks fell at the opening after the merger talks between Yahoo and Microsoft fell. Yahoo fell nearly 20% after the two companies could not agree on a price. Sprint Nextel rose on the potential interest from Deutsche Telekom. Arcelor Mittal, the largest steel company and second largest Chinese steel company are in merger talks. Berkshire Hathaway, after reporting sharply lower earnings over the weekend, is expected to make a purchase in Europe. |
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Financials Lift European Markets
May 02, 5:25 PM EDT |
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| Banks and insurance companies in the region rebounded as investors showed higher apppetite for risk. |
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| European stocks closed higher on a rise in airlines, banks and commodities stocks. The market averages in the region tracked morning gains in the U.S. German retail sales fell in April as consumers battel rising food and energy prices. Home prices in UK declined as lenders tighten mortgage lending. April auto sales in France rose 14%. BNP Paribas and Credit Agricole rose on a broker recommendation. |
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Crude Oil Rise Kills Payrolls Rally
May 02, 4:33 PM EDT |
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| Dolby Laboratories, Agrium, Chiquita and Chevron closed higher and Bankrate, Monster Worldwide, Wynn Resorts, and ADP fell on the earnings. |
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| U.S. stocks closed mixed after April payrolls declined 20,000 and unemployment fell to 5% from 5.1%. The smaller than expected drop in payroll lifted stocks in the morning. Crude oil rebounded 3% and dragged market averages at close. Yield on 30 years bonds rose. Stocks in Europe and Latin America closed higher tracking gains in the U.S. Countrywide Financial debt status was lowered to junk level after the Bank of America in filing suggested that it may not guarantee $93 billion of debt. |
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Realty, Financials Lift Tokyo Stocks
May 02, 1:44 PM EDT |
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| JAL Group lowered its revenue forecast for the year ended on March 2008 by 0.8% and increased its net earnings estimates by 129%. |
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| Stocks in Japan rose sharply after the yen fell to a 2-year low. Investors returned to stocks on he falling commodities and crude oil futures prices and rising optimism related to credit market. In Tokyo trading Nikkei 225 rose 2.05% or 282.4 to 14,049.26, rising 1.3% for the week, and the broader Topix Index increased 2.3% or 31.29 to 1,377.39. |
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Fed TAF at $75B, Stocks Gain
May 02, 11:02 AM EDT |
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| U.S. stocks gained at the opening on the Fed increasing the size of its TAF facility to $75 billion. Agrium and Dolby surge on earnings. |
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| U.S. stocks edged lower after surging nearly one percent at the opening. The Fed widened its term auction next week to $75 billion from $50 billion. April non-farm payroll declined lower than expected, sparking a rally in dollar. Construction and retail industries continue to shed workers. In addition, construction spending fell 1.1% in March. Crude oil and gold edged higher. Tech stocks fell after a surge at the opening. |
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Kirin, Seiko Fall on Earnings
May 01, 10:15 PM EDT |
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| Seiko Epson reported annual sales declined 4.8% to 1.3 trillion yen and earnings fell 19 billion yen. Kirin reported quarterly loss. |
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| Stocks in Japan fell on the downgrade of economic growth by the Bank of Japan and a spate of negative earnings news from Kirin Holdings and Seiko Epson Corp. March cash earnings of employees rise 1.2% at small companies and 1.4% at large and mid-size companies. Seiko Epson reported that annual profit for the year ended March 31st fell to 19 billion yen as net sales fell 4.8% to 1.3 trillion yen from 1.4 trillion a year earlier. |
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Rally in Techs, Financials Lifts U.S. Stocks
May 01, 10:31 AM EDT |
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| U.S. markets indexes rose sharply in the late afternoon as oil and gold fell and consumer spending increased. Tech stocks lifted Nasdaq 2.8%. |
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| Stocks in financials and technology sector closed sharply higher at close on a rally in the late afternoon. Tech heavy Nasdaq closed up 2.8%, Dow Jones Industrial rose 1.5% and S&P 500 increased 1.7%. Most markets in Asia, Latin America and Europe were closed for trading today. Exxon Mobil led decliners in Dow and American Express led gainers. Of the stocks in S&P 500, 430 closed higher and 70 closed lower, with MBIA leading gainers and JDS Uniphase leading decliners. |
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Smith Nephew Led FTSE Stocks Decline
May 01, 4:40 PM EDT |
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| UK stocks closed unchaged. ISM survey of the UK economy indicated that economy failed to grow in April and rising for 78 months in a row. |
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| The Bank of England in its report on financial stability said that the current re-pricing in the credit markets is taking longer than anticipated. But, added that prices of securities are likely to rebound from the current low in levels in months ahead. FTSE 100 index close unchanged on a weakness in energy and mining and metals related stocks. Smith & Nephew led decliners in the FTSE 100 shares with a drop of 13% followed by losses in Eurasian Natural of 3%, in Home Retail Group of 2.8%. |
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GM, Ford Sales Fall; Toyota, Nissan Sales Rise
May 01, 3:39 PM EDT |
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| Consumers were cautious in April and purchased fewer and smaller vehicles as rising fuel costs and worries related to economy dominated. |
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| General Motors and Ford report sales decline but Toyota and Nissan sales rise. As consumer watch the rising fuel cost, more people chose to buy smaller vehicles and forego purchase of light trucks. There were also two fewer selling days in April this year compared to April 2007. GM unit sales declined 17% and sales at Ford fell 12%. Toyota unit sales rose 3.5% and at Nissan sales surged 6.7%. |
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