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Market Update Analysis: 
Deutsche Bank Earnings Miss
Author: 123jump.com Staff
123jump.com
Last Update: 6:16 PM EDT March 26 2008


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European markets closed lower after earning worries for banks and a downgrade on drug stocks. Deutsche Bank chief said that the assset write downs and loan losses may make it harder to achieve profit estimate for the year. Morgan Stanley lowered its price target for Sanofi-Aventis and GlaxoSmithKline. Bureau Veritas in Paris reported earnings rise of 3% on 12% rise in sales.

 
In South Korea Kospi Index increased 4.74 or 0.28% to close at 1,679.67, in Thailand SET index closed lower 2.74 or 0.33% to 817.57 and Indonesia JSE Index edged increased 21.02 or 0.87% to 2,440.64. Sensex index in India decreased 130.66 or 0.81% to 16,086.83.

Commodities, Metals, and Currencies

Crude oil increased $5.10 to close at $106.32 a barrel for a front month contract, natural gas increased 14 cent to $9.56 per mBtu, and gasoline futures increased 5.63 cents to close at 273.65 cents per gallon.

Gold increased $14.50 in New York trading to close at $954.20 per ounce, silver closed up $0.58 cents to $18.38 per ounce, and copper for front month delivery increased 4.650 cents to 372.50 per pound.

Wheat futures increased 34.50 cents in Chicago trading and closed at $10.33 per bushel. Sugar increased 9.00 cent to 12.23 cents per pound. Soybean future closed up 45.00 cents to $13.52 a bushel.

Dollar edged lower and traded near a record low against euro to $1.5856 and edged higher against yen to 99.07.

Bond Yields decreased for 10-year U.S. bonds and closed at 3.47% and on 30-year bonds increased to close at 4.32%.
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