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Techs, Retailers Drag Markets Lower
Aug 29, 4:15 PM ET |
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| Technology stocks fell sharply lower after Dell missed its earnings target. Retail and consumer spending realted stocks fell on weak monthly data. |
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| The latest report on personal spending suggested a declining trend and a weak earnings from Dell dragged tech and retail stocks lower. Starbucks, Whole Foods, Darden Restaurants, Amazon, Target, Wal-Mart fell. Dell, Research in Motion, Intel, Apple and IBM fell as Nasdaq dropped more than 1.7%. Latin American markets closed lower across the region. European markets closed higher after Commerzbank may buy Dresdner Bank for 9 billion euros. |
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UK Stocks Rise, Sainsbury Surges
Aug 28, 2:29 PM ET |
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| Kazakhmys led decliners in the FTSE 100 index shares with a fall of 2.54% followed by losses in Severn Trent of 2.14% |
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| In London trading FTSE 100 rose 1.32% or 73.1 to 5,601.20. Of the 102 FTSE 100 stocks 83 rose, 18 declined, and 1 was unchanged. Sainsbury led advancers in the index shares with a rise of 7.92% followed by Wolseley increasing 5.87%. Nationwide Building Society reported today that house prices fell 1.9% from a month ago and 10.5% from the previous year to £164,654. |
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Inflation Worries Drag Sensex
Aug 28, 2:08 PM ET |
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| Financial stocks fell on fears that rising inflation will force the Reserve Bank of India to tighten its monetary policy stance. |
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| The Ministry of Commerce reported today that India’s inflation remained at a 16-year high, rising to 12.40% in the week ended August 16 from 12.63% in the previous week. In Mumbai, the BSE 30-share Sensex declined 1.74% or 248.45 to 14,048.34, and the CNX Nifty dropped 1.82% or 78.10 to 4214. Of the stocks traded on the BSE, 912 rose, 1718 declined and 84 were unchanged. |
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Inflation 2.4%; Production Rises
Aug 29, 12:54 AM ET |
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| Fujifilm led decliners in the Nikkei 225 index shares with a fall of 12.43% |
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| The Statistics Bureau in Japan reported on its Web site today that the consumer price index in Japan rose 0.2% from the previous month and gained 2.3% from a year earlier. In Tokyo trading Nikkei 225 index rose 2.4% today and added 3.2% for the week and dropped 2.3% for the month, and the broader Topix Index rose 2.9% in the session. Industrial production rose 0.9% in July after it fell 2.2% in June. Nisshinbo Industries led advancers in the Nikkei 225 index shares with a rise of 10.47%. |
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Weakening Personal Spending, Oil Up
Aug 29, 10:00 AM ET |
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| U.S. stocks drop after personal spending and income showed a weakening pattern in July. Crude oil rises. |
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| U.S. stocks fell in the morning after weaker than expected data on personal consumption and expenditure. Crude oil gained as tropical storm brewed in the Gulf of Mexico. A decline in earnings from Dell suggested a slower spending in the U.S. and earl signs of similar trends in Europe and Asia. Consumer spending in July rose 0.2% after rising at 0.6% in June according to the latest data from the Commerce Department. Personal income dropped 0.7% after rising 0.1% in June and 1.8% in May. |
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Stocks Rise on Q2 GDP Growth, Oil Up
Aug 28, 9:44 AM ET |
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| Faster than expected second quarter economic growth lifted stocks in the U.S. and Europe. Crude oil climbed. |
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| U.S. stocks rose in the morning trading after the release of second quarter economic growth and weekly unemployment data. In the quarter economic growth boosted at 3.3% annual rate on rising exports on lower dollar and stimulus package from the government. Weekly unemployment claims matched the forecast but were at elevated level. Sears contune to struggle in sales as reported in the latest quarter. |
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Ricoh Buys IKON, Weak Construction
Aug 28, 8:49 AM ET |
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| Stocks in Japan edge higher despite rising evidence of more failures linked to construction and housing sectors. |
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| Stocks in Japan edged higher lifted by rising commodities related stocks and news of acquisition from Ricoh. The office equipment company agreed to acquire IKON Office Solutions for $1.6 billion in cash, 33% premium from its 60-day trailing average price. More construction companies and home builders in Japan are expected falter in the rest of the year. July month saw nearly 1,140 bankruptcies in Japan, with nearly third of them from the construction industry. |
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Durable Orders, Oil Drive Stocks Higher
Aug 27, 6:28 PM ET |
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| Rising energy prices lifted benchmark indexes in Brazil, Peru, Canada and UK. Durable goods orders lifted stocks in the U.S. |
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| Stocks in US, Canada, UK, Europe, Hong Kong and India rose. Better than expected durable goods orders drove stocks higher in the U.S., rising energy prices lifted stocks in UK and Canada. Peru and Brazil led gainers in the South America with the markets in the entire region closing higher. Stocks in Hong Kong and China rose on earnings from China Life, China Mobile, PetroChina and China Cosco. Mergers in IT industry lifted stocks in India. |
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Taylor Wimpey Loss, UK Stocks Up
Aug 27, 5:26 PM ET |
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| Taylor Wimpey battling market fall out in UK, US and Spain reported a loss after it wrote down assets in its land portfolio. |
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| Stocks in London rose tracking gains in energy and metals market. Taylor Wimpey reported first half revenue rose to £1.9 billion from £1.4 billion a year ago and reported a loss of £1.5 billion compared to a profit of £18 million. In the period the group finished 8,494 homes compared to 4,857 homes. The home builder is facing challenging market conditions in UK, Spain and in the U.S but the company asserted that it is in compliance of all of its debt covenants. |
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Earnings Dominate China, HK Trading
Aug 27, 6:15 PM ET |
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| China COSCO jumped 8% after interim profit increaesd Rmb15 billion and Jiangxi Copper soared 9.5% after first half profit rose 32%. |
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| Stocks in Hong Kong and in Shanghai edged higher after several leading companies reported better than expected earnings. China Life, China Mobile, China COSCO and Jiangxi Copper reported better than expected earnings. Coal companies also gained on news that China will strengthen its enforcement of price caps on thermal coal. China Shenhua surged 5.7% and China Coal edged up 6.3%. |
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