Japanese stocks climbed after comments by Federal Reserve Vice Chairman Donald Kohn raised expectations the central bank will cut interest rates, easing concern growth will stall in Japan's biggest overseas market.
Nintendo Co. led gains by exporters after the yen weakened against the dollar, bolstering the value of companies' overseas sales. Mitsubishi UFJ Financial Group Inc., Japan's largest bank by market value, jumped on speculation increased liquidity will offset investment losses.
``Kohn's comments increased expectations of a rate cut, and we might even see a large reduction this time, which should help to support the U.S. economy and stocks at home as well,'' said Naoki Fujiwara, who helps oversee $3.2 billion as chief fund manager at Shinkin Asset Management Co. in Tokyo. ``The yen is a function of the economic outlook, which is why investors are buying dollars.''
The Nikkei 225 Stock Average gained 359.96, or 2.4 percent, to 15,513.74 at the close of trading in Tokyo. The Topix index rose 38.83, or 2.6 percent, to 1,514.47. Both benchmarks climbed the most since Nov. 14.
Nintendo, the world's biggest maker of handheld game players, rose 2,900 yen, or 4.7 percent, 65,100 in Osaka. Mitsubishi UFJ gained 62 yen, or 6.1 percent, to 1,076. Mizuho Financial Group Inc., Japan's second-largest bank by market value, climbed 26,000 yen, or 4.7 percent, to 583,000.
Nintendo also gained after the Kyoto-based company yesterday said U.S. consumers bought 350,000 Wii video-game consoles last week, the most since the first days of sales a year ago.
Deterioration `Not Anticipated'
Honda Motor Co., which generates 55 percent of its sales in North America, jumped 130 yen, or 3.6 percent, to 3,740. Toyota Motor Corp., the world's largest automaker by market value, rose 190 yen, or 3.2 percent, to 6,190, the biggest gain since Oct. 26.
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четверг, 29 ноября 2007 г.
Asian Stocks Rise on U.S. Rate Cut Speculation; Samsung Climbs
Asian stocks rose, led by Toyota Motor Co. and Samsung Electronics Co., on expectations the Federal Reserve will cut U.S. interest rates to support growth in the region's largest export market.
Toyota and Samsung climbed to their highest in about two weeks after Fed Vice Chairman Donald Kohn said policymakers must be ``flexible and pragmatic'' in response to a credit market ``deterioration.'' Mitsubishi UFJ Financial Group Inc. led banks higher. Sino Land Co. paced gains among Hong Kong developers on speculation the city's borrowing costs will follow U.S. rates lower, boosting demand for real estate.
``Kohn's comments increased expectations of a rate cut, and we might even see a large reduction this time, which should help to support the U.S. economy and stocks at home as well,'' said Naoki Fujiwara, who helps oversee $3.2 billion as chief fund manager at Shinkin Asset Management Co. in Tokyo.
The MSCI Asia Pacific Index climbed 2.5 percent to 160.62 at 5:22 p.m. in Tokyo, with all 10 industry groups advancing. Japan's Nikkei 225 Stock Average jumped 2.4 percent. Hong Kong's Hang Seng Index rose 4.1 percent, extending gains after a Chinese official said the country will proceed with a plan allowing individual purchases of the city's stocks.
All markets advanced in the region except in New Zealand, Vietnam and Sri Lanka.
Concerns that losses tied to U.S. subprime mortgages are spreading and that the U.S. economy is slowing helped drag the MSCI Asia Pacific down by 6.7 percent from its Nov. 1 record. The Nikkei has lost 8 percent in that time.
bull-report.com
Toyota and Samsung climbed to their highest in about two weeks after Fed Vice Chairman Donald Kohn said policymakers must be ``flexible and pragmatic'' in response to a credit market ``deterioration.'' Mitsubishi UFJ Financial Group Inc. led banks higher. Sino Land Co. paced gains among Hong Kong developers on speculation the city's borrowing costs will follow U.S. rates lower, boosting demand for real estate.
``Kohn's comments increased expectations of a rate cut, and we might even see a large reduction this time, which should help to support the U.S. economy and stocks at home as well,'' said Naoki Fujiwara, who helps oversee $3.2 billion as chief fund manager at Shinkin Asset Management Co. in Tokyo.
The MSCI Asia Pacific Index climbed 2.5 percent to 160.62 at 5:22 p.m. in Tokyo, with all 10 industry groups advancing. Japan's Nikkei 225 Stock Average jumped 2.4 percent. Hong Kong's Hang Seng Index rose 4.1 percent, extending gains after a Chinese official said the country will proceed with a plan allowing individual purchases of the city's stocks.
All markets advanced in the region except in New Zealand, Vietnam and Sri Lanka.
Concerns that losses tied to U.S. subprime mortgages are spreading and that the U.S. economy is slowing helped drag the MSCI Asia Pacific down by 6.7 percent from its Nov. 1 record. The Nikkei has lost 8 percent in that time.
bull-report.com
пятница, 23 ноября 2007 г.
Asian Stocks Gain for First Time in Seven Days; ICBC Advances
Asian stocks rose for the first time in seven days, trimming a regional index's worst weekly loss in three months.
China Mobile Ltd., Industrial and Commercial Bank of China Ltd. and Cnooc Ltd. helped Hong Kong's index to its first gain in three days after billionaire Lee Shau-kee said he bought shares.
``The fundamentals of Hong Kong stocks are still very strong,'' said Khiem Do, who helps oversee $16 billion in equities at Baring Asset Management (Asia) Ltd.
Samsung Electronics Co., the world's largest liquid-crystal display maker, climbed to a one-week high in Seoul after saying it will invest 2.06 trillion won ($2.2 billion) to expand a factory to meet rising demand for LCDs.
Tokyo was closed for a holiday and the MSCI Asia Pacific excluding Japan Index climbed 0.2 percent to 506.92 at 4:57 p.m. in Hong Kong, after a six-day, 8.3 percent slump. The benchmark dropped 4.8 percent this week, its fourth straight loss and the worst weekly performance since the five days ended Aug. 17.
Hyundai Heavy Industries Ltd. dropped on concern demand for industrial goods is waning, sending South Korea's Kospi to its longest losing streak in three years. The index led losses in Asia this week, with Pakistan posting the only advance.
Regional indexes advanced elsewhere today except for Australia, Taiwan and Sri Lanka. China's CSI 300 Index climbed the most in a week, while the Sensitive Index snapped a six-day drop in India.
Japan's Topix index slid 0.1 percent yesterday, after having dropped 21 percent from its February peak, making the country the first of the world's 10 biggest stock markets to enter a bear market this year. U.S. trading had a break yesterday for the Thanksgiving holiday.
pennystock-list.com
China Mobile Ltd., Industrial and Commercial Bank of China Ltd. and Cnooc Ltd. helped Hong Kong's index to its first gain in three days after billionaire Lee Shau-kee said he bought shares.
``The fundamentals of Hong Kong stocks are still very strong,'' said Khiem Do, who helps oversee $16 billion in equities at Baring Asset Management (Asia) Ltd.
Samsung Electronics Co., the world's largest liquid-crystal display maker, climbed to a one-week high in Seoul after saying it will invest 2.06 trillion won ($2.2 billion) to expand a factory to meet rising demand for LCDs.
Tokyo was closed for a holiday and the MSCI Asia Pacific excluding Japan Index climbed 0.2 percent to 506.92 at 4:57 p.m. in Hong Kong, after a six-day, 8.3 percent slump. The benchmark dropped 4.8 percent this week, its fourth straight loss and the worst weekly performance since the five days ended Aug. 17.
Hyundai Heavy Industries Ltd. dropped on concern demand for industrial goods is waning, sending South Korea's Kospi to its longest losing streak in three years. The index led losses in Asia this week, with Pakistan posting the only advance.
Regional indexes advanced elsewhere today except for Australia, Taiwan and Sri Lanka. China's CSI 300 Index climbed the most in a week, while the Sensitive Index snapped a six-day drop in India.
Japan's Topix index slid 0.1 percent yesterday, after having dropped 21 percent from its February peak, making the country the first of the world's 10 biggest stock markets to enter a bear market this year. U.S. trading had a break yesterday for the Thanksgiving holiday.
pennystock-list.com
South African Stocks Rise, Led by Anglo American, BHP Billiton
South African shares gained, led by Anglo American Plc after HSBC Holdings Plc raised its recommendation in the world's second-largest mining company.
The FTSE/JSE Africa All Share Index added 107.85, or 0.4 percent, to 29,235.27 at 9:26 a.m. in Johannesburg, as 58 stocks gained, 19 dropped and 82 were unchanged.
Anglo American, the world's second-biggest mining company, climbed 1.51 rand, or 0.4 percent, to 398.70. HSBC raised its recommendation on Anglo American to ``overweight'' from ``neutral.'' Larger rival BHP advanced 1.50 rand, or 0.7 percent, to 211.
Copper for delivery in three months climbed as much as 2.1 percent to $6,700 a metric ton in London on speculation that manufacturers in China, the world's biggest consumer of the metal, have stepped up purchases to take advantage of the lowest price in almost nine months. The metal used in wiring and plumbing has dropped 5 percent this week. Nickel, lead, zinc and aluminum prices also rose.
Harmony Gold Mining Co., South Africa's third-largest gold producer, added 50 cents, or 0.7 percent, to 69.30. Gold for immediate delivery advanced 0.9 percent to $811.40 an ounce as the dollar fell to a record low against the euro and oil prices held above $97 a barrel, boosting bullion's appeal as an alternative investment and hedge against inflation.
pennystock-list.com
The FTSE/JSE Africa All Share Index added 107.85, or 0.4 percent, to 29,235.27 at 9:26 a.m. in Johannesburg, as 58 stocks gained, 19 dropped and 82 were unchanged.
Anglo American, the world's second-biggest mining company, climbed 1.51 rand, or 0.4 percent, to 398.70. HSBC raised its recommendation on Anglo American to ``overweight'' from ``neutral.'' Larger rival BHP advanced 1.50 rand, or 0.7 percent, to 211.
Copper for delivery in three months climbed as much as 2.1 percent to $6,700 a metric ton in London on speculation that manufacturers in China, the world's biggest consumer of the metal, have stepped up purchases to take advantage of the lowest price in almost nine months. The metal used in wiring and plumbing has dropped 5 percent this week. Nickel, lead, zinc and aluminum prices also rose.
Harmony Gold Mining Co., South Africa's third-largest gold producer, added 50 cents, or 0.7 percent, to 69.30. Gold for immediate delivery advanced 0.9 percent to $811.40 an ounce as the dollar fell to a record low against the euro and oil prices held above $97 a barrel, boosting bullion's appeal as an alternative investment and hedge against inflation.
pennystock-list.com
среда, 21 ноября 2007 г.
Japan Stocks Fall, Led by Honda, on Fed Outlook, Yen, Oil Price
Japanese stocks fell, led by exporters such as Honda Motor Co., after the Federal Reserve cut its 2008 growth forecast for the U.S. economy, and the yen rose to a two-year high against the dollar.
Shares also dropped on concern crude oil prices near $100 per barrel will curb profit. Mitsui O.S.K. Lines Ltd., Japan's second-largest shipping line, fell 5.5 percent, and Mitsui Chemicals Inc. declined 3.8 percent.
``A slowing U.S. economy puts negative pressure on Japanese corporate earnings,'' said Masaki Iso, who oversees about $7.3 billion as head of Japanese equities at Yasuda Asset Management Co. in Tokyo. ``Corporate earnings are still sensitive to the dollar-yen exchange rate. The sensitivity is less now than 10 years ago, but overseas sales are still a big part of Japanese corporate earnings.''
The U.S. is Japan's biggest overseas market.
The Nikkei 225 Stock Average fell 373.86, or 2.5 percent, to 14,837.66 at the close of trading in Tokyo, the lowest since July 24, 2006. The broader Topix index slumped 30.55, or 2.1 percent, to 1,438.72, a level not seen since October 2005.
Honda, Japan's second-largest carmaker, dropped 170 yen, or 4.5 percent, to 3,620, falling the most since Aug. 17. Toshiba Corp., the world's second-biggest maker of flash memory chips, lost 35 yen, or 4 percent, to 841. Toyota Motor Corp., the world's most valuable carmaker and second in U.S. auto sales this year, fell 170 yen, or 2.8 percent, to 5,940.
The Fed lowered its 2008 U.S. growth forecast at its last meeting to as little as 1.8 percent from a previous estimate of 2.5 percent to 2.75 percent, according to minutes released by the central bank yesterday. It also expressed concern about credit-market losses.
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Shares also dropped on concern crude oil prices near $100 per barrel will curb profit. Mitsui O.S.K. Lines Ltd., Japan's second-largest shipping line, fell 5.5 percent, and Mitsui Chemicals Inc. declined 3.8 percent.
``A slowing U.S. economy puts negative pressure on Japanese corporate earnings,'' said Masaki Iso, who oversees about $7.3 billion as head of Japanese equities at Yasuda Asset Management Co. in Tokyo. ``Corporate earnings are still sensitive to the dollar-yen exchange rate. The sensitivity is less now than 10 years ago, but overseas sales are still a big part of Japanese corporate earnings.''
The U.S. is Japan's biggest overseas market.
The Nikkei 225 Stock Average fell 373.86, or 2.5 percent, to 14,837.66 at the close of trading in Tokyo, the lowest since July 24, 2006. The broader Topix index slumped 30.55, or 2.1 percent, to 1,438.72, a level not seen since October 2005.
Honda, Japan's second-largest carmaker, dropped 170 yen, or 4.5 percent, to 3,620, falling the most since Aug. 17. Toshiba Corp., the world's second-biggest maker of flash memory chips, lost 35 yen, or 4 percent, to 841. Toyota Motor Corp., the world's most valuable carmaker and second in U.S. auto sales this year, fell 170 yen, or 2.8 percent, to 5,940.
The Fed lowered its 2008 U.S. growth forecast at its last meeting to as little as 1.8 percent from a previous estimate of 2.5 percent to 2.75 percent, according to minutes released by the central bank yesterday. It also expressed concern about credit-market losses.
pennystock-pics.com
Asian Stocks Fall After Oil Rises to Record, Fed Cuts Forecast
Asian stocks slumped, led by Honda Motor Co., after a decline in the dollar pushed the price of crude oil to almost $100 a barrel and the Federal Reserve cut its forecast for U.S. economic growth.
Honda posted its biggest drop in three months, and Toyota Motor Corp., ranked second in U.S. auto sales this year, fell the most in more than a week as the yen strengthened to a two-year high against the dollar. Commonwealth Bank of Australia and Mizuho Financial Group Inc. slid after Freddie Mac, the second- biggest U.S. mortgage-finance company, reported a record loss.
``A spate of bad news related to the U.S. subprime-loan issue has made the outlook uncertain,'' said Kazuyuki Terao, who helps oversee $1.7 billion at RCM Japan Ltd. in Tokyo. ``With the chances of a U.S. economic slowdown on the rise, there are concerns that high commodity prices could squeeze corporate profits.''
The MSCI Asia Pacific Index lost 1.8 percent to 155.21 at 3:02 p.m. in Tokyo, with all 10 industry groups falling. Japan's Nikkei 225 Stock Average slid 2.5 percent to 14,837.66, its lowest close since July 2006, and South Korea's Kospi index lost 3.5 percent in its longest losing streak since December 2006. All Asian markets fell except New Zealand.
Air China Ltd., the world's largest carrier by market value, led airlines lower on concern the rising price of oil will increase fuel charges. Nippon Steel Corp. and JFE Holdings Inc., the world's second- and third-largest steelmakers, both sank to the lowest in at least 11 months. BHP Billiton Ltd., Australia's biggest oil producer, advanced.
pennystock-pics.com
Honda posted its biggest drop in three months, and Toyota Motor Corp., ranked second in U.S. auto sales this year, fell the most in more than a week as the yen strengthened to a two-year high against the dollar. Commonwealth Bank of Australia and Mizuho Financial Group Inc. slid after Freddie Mac, the second- biggest U.S. mortgage-finance company, reported a record loss.
``A spate of bad news related to the U.S. subprime-loan issue has made the outlook uncertain,'' said Kazuyuki Terao, who helps oversee $1.7 billion at RCM Japan Ltd. in Tokyo. ``With the chances of a U.S. economic slowdown on the rise, there are concerns that high commodity prices could squeeze corporate profits.''
The MSCI Asia Pacific Index lost 1.8 percent to 155.21 at 3:02 p.m. in Tokyo, with all 10 industry groups falling. Japan's Nikkei 225 Stock Average slid 2.5 percent to 14,837.66, its lowest close since July 2006, and South Korea's Kospi index lost 3.5 percent in its longest losing streak since December 2006. All Asian markets fell except New Zealand.
Air China Ltd., the world's largest carrier by market value, led airlines lower on concern the rising price of oil will increase fuel charges. Nippon Steel Corp. and JFE Holdings Inc., the world's second- and third-largest steelmakers, both sank to the lowest in at least 11 months. BHP Billiton Ltd., Australia's biggest oil producer, advanced.
pennystock-pics.com
понедельник, 19 ноября 2007 г.
Asian Stocks Decline After China Tells Banks to Cool Lending
Asian stocks fell, led by China Mobile Ltd. and Mitsui & Co., after Chinese regulators told banks to cool lending that has fueled the world's fastest economic expansion.
China Mobile, the world's largest mobile-phone operator by users, and Industrial and Commercial Bank of China Ltd., the nation's biggest lender, dropped for a third day in Hong Kong. Mitsubishi Corp. and Mitsui, Japan's two largest trading companies, slid to the lowest in more than two months in Tokyo.
``What is Asian growth without China?'' said Leslie Phang, who helps oversee $1 billion at Commonwealth Private Bank in Singapore. ``If China goes, everything else goes.''
The Morgan Stanley Capital International Asia Pacific Index lost 0.5 percent to 157.52 as of 5:10 p.m. in Tokyo, bringing this month's drop to 8 percent. Seven of the measure's 10 industry groups fell today.
Japan's Nikkei 225 Stock Average declined 0.7 percent to 15,042.56. Benchmarks slid across the region except in Australia, the Philippines and India. New Zealand's was little changed.
BHP Billiton Ltd. and Rio Tinto Group led a 1.1 percent advance in Australia's S&P/ASX 200 Index after BHP's chief executive officer said the majority of shareholders he had met supported a plan to combine the two companies.
China Mobile lost 1.1 percent to HK$131.80 in Hong Kong, the biggest contributor to the drop in the city's Hang Seng Index. Industrial & Commercial Bank fell 1.2 percent to HK$6. China Vanke Co., the nation's biggest listed property developer, slid 4 percent to 32.93 yuan in Shenzhen.
investpennystocks.com
China Mobile, the world's largest mobile-phone operator by users, and Industrial and Commercial Bank of China Ltd., the nation's biggest lender, dropped for a third day in Hong Kong. Mitsubishi Corp. and Mitsui, Japan's two largest trading companies, slid to the lowest in more than two months in Tokyo.
``What is Asian growth without China?'' said Leslie Phang, who helps oversee $1 billion at Commonwealth Private Bank in Singapore. ``If China goes, everything else goes.''
The Morgan Stanley Capital International Asia Pacific Index lost 0.5 percent to 157.52 as of 5:10 p.m. in Tokyo, bringing this month's drop to 8 percent. Seven of the measure's 10 industry groups fell today.
Japan's Nikkei 225 Stock Average declined 0.7 percent to 15,042.56. Benchmarks slid across the region except in Australia, the Philippines and India. New Zealand's was little changed.
BHP Billiton Ltd. and Rio Tinto Group led a 1.1 percent advance in Australia's S&P/ASX 200 Index after BHP's chief executive officer said the majority of shareholders he had met supported a plan to combine the two companies.
China Mobile lost 1.1 percent to HK$131.80 in Hong Kong, the biggest contributor to the drop in the city's Hang Seng Index. Industrial & Commercial Bank fell 1.2 percent to HK$6. China Vanke Co., the nation's biggest listed property developer, slid 4 percent to 32.93 yuan in Shenzhen.
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Global Gold Stocks May Beat Bullion, Baker Steel Says
Investors should buy gold stocks such as Kinross Gold Corp. because mining companies may rise faster in the next two years than the precious metal they sell, said London-based Baker Steel Capital Managers LLP.
The supply of gold is falling as mining companies struggle to make discoveries even as rising global wealth spurs demand for jewelry, Trevor Steel, co-founder of Baker Steel, which has $900 million in assets, said in an interview on Nov. 16.
Gold approached the $850 an ounce peak on Nov. 7, buoyed by a weaker dollar and record energy prices. JPMorgan Chase & Co., investor Marc Faber and London-based researcher GFMS Ltd. are predicting prices to top $1,000 next year. The gains still aren't reflected in many analysts' profit estimates, said Steel, suggesting gold-mining companies could climb higher.
``These companies will grow though it may take a while for people to discover them,'' said Steel, before speaking at a two- day conference starting today in Mumbai. ``Gold shares give more leverage than gold alone as you are participating in the company's growth.'' Kinross, Gold Reserves Inc., Golden Star Resources Corp. and Iamgold Corp. are among his favorite picks.
Gold has climbed 24 percent this year to the highest since 1980, outpacing the 21 percent gain in the Philadelphia Gold & Silver Index of companies, including Barrick Gold Corp. and Newmont Mining Corp., the biggest miners. The metal has tripled from a 20-year low in July 1999, while Barrick and Newmont have more than doubled in value.
Falling Output
Baker Steel's Genus Dynamic Gold Fund, which has about $300 million in mining companies' shares, has risen 28 percent this year, exceeding the 21 percent gain in the FTSE Gold Mines Index, according to Bloomberg data. The fund has surged fourfold since its launch in April 2003.
Kinross Gold, Canada's third-biggest gold producer, was the fund's top holding on Oct. 31, making up 5 percent of its value, Steel said. The stock climbed 1 percent to C$16.94 on Nov. 16 in Toronto, the third-biggest gainer on the 16-member Philadelphia index, according to Bloomberg data.
Mine output, which last year dropped to a 10-year low, will fall a further 1.6 percent in the second half to 1,284 tons as it gets harder to extract the precious metal from deeper and older mines, according to GFMS.
``The supply of other metals like aluminum and copper is rising, while gold-mining companies have not been able to keep pace'' with demand, fund manager Steel said.
Gold demand rose 19 percent in the third quarter to 947 tons, led by a sevenfold increase in investment in exchange- traded funds backed by bullion, the producer-funded World Gold Council said last week.
investpennystocks.com
The supply of gold is falling as mining companies struggle to make discoveries even as rising global wealth spurs demand for jewelry, Trevor Steel, co-founder of Baker Steel, which has $900 million in assets, said in an interview on Nov. 16.
Gold approached the $850 an ounce peak on Nov. 7, buoyed by a weaker dollar and record energy prices. JPMorgan Chase & Co., investor Marc Faber and London-based researcher GFMS Ltd. are predicting prices to top $1,000 next year. The gains still aren't reflected in many analysts' profit estimates, said Steel, suggesting gold-mining companies could climb higher.
``These companies will grow though it may take a while for people to discover them,'' said Steel, before speaking at a two- day conference starting today in Mumbai. ``Gold shares give more leverage than gold alone as you are participating in the company's growth.'' Kinross, Gold Reserves Inc., Golden Star Resources Corp. and Iamgold Corp. are among his favorite picks.
Gold has climbed 24 percent this year to the highest since 1980, outpacing the 21 percent gain in the Philadelphia Gold & Silver Index of companies, including Barrick Gold Corp. and Newmont Mining Corp., the biggest miners. The metal has tripled from a 20-year low in July 1999, while Barrick and Newmont have more than doubled in value.
Falling Output
Baker Steel's Genus Dynamic Gold Fund, which has about $300 million in mining companies' shares, has risen 28 percent this year, exceeding the 21 percent gain in the FTSE Gold Mines Index, according to Bloomberg data. The fund has surged fourfold since its launch in April 2003.
Kinross Gold, Canada's third-biggest gold producer, was the fund's top holding on Oct. 31, making up 5 percent of its value, Steel said. The stock climbed 1 percent to C$16.94 on Nov. 16 in Toronto, the third-biggest gainer on the 16-member Philadelphia index, according to Bloomberg data.
Mine output, which last year dropped to a 10-year low, will fall a further 1.6 percent in the second half to 1,284 tons as it gets harder to extract the precious metal from deeper and older mines, according to GFMS.
``The supply of other metals like aluminum and copper is rising, while gold-mining companies have not been able to keep pace'' with demand, fund manager Steel said.
Gold demand rose 19 percent in the third quarter to 947 tons, led by a sevenfold increase in investment in exchange- traded funds backed by bullion, the producer-funded World Gold Council said last week.
investpennystocks.com
пятница, 16 ноября 2007 г.
Asian Stocks Fall, Led by Exporters, Banks on U.S. Outlook
Asian stocks fell for a second day, led by Toyota Motor Corp. and Canon Inc., after Bank of Japan Deputy Governor Toshiro Muto said growth could be threatened if the U.S. housing slump spreads.
Mizuho Financial Group Inc. and HSBC Holdings Plc dropped on concern banks may report widening losses from U.S. home loans to borrowers with poor credit after Wells Fargo & Co. said yesterday it's the worst housing market since the Great Depression.
``You just don't see an end to the subprime housing-loan problem,'' said Soichiro Monji, who helps oversee $47 billion at Daiwa SB Investments Ltd. in Tokyo. ``Unless we see some light at the end of the tunnel, we can't expect the market to rise.''
The Morgan Stanley Capital International Asia Pacific Index fell 2.2 percent to 157.78 as of 1:16 p.m. in Tokyo. The index has lost 7.9 percent in November, set for its biggest monthly drop since September 2001.
All 10 industry groups on the measure dropped today, with a group of financial stocks as the biggest contributor to the decline.
Falling stocks worldwide have wiped out more than $1.8 trillion in global market value this month to Nov. 14, according to data compiled by Bloomberg.
Japan's Nikkei 225 Stock Average slid 1.6 percent to 15,150.68, while the broader Topix index slumped 2 percent. Benchmarks in other markets open for trading fell, except in New Zealand.
Exporters Decline
In the U.S, the Dow Jones Industrial Average decreased 0.9 percent to 13,110.05. The Standard & Poor's 500 Index lost 1.3 percent and the Nasdaq Composite Index slipped 1 percent.
Toyota Motor, which gets about 70 percent of its profit from operations in North America, fell 1.6 percent to 6,120 yen. Canon, the world's biggest seller of digital cameras, declined 1.6 percent to 5,480 yen. Other stocks tumbled on concern the U.S. housing recession will crimp demand from Asia's biggest export market.
The yen strengthened to 110.03 to the dollar at 10:21 a.m. in Tokyo from 111.26 at the close of the Tokyo Stock Exchange yesterday. A stronger Japanese currency decreases the value of companies' overseas earnings when translated into yen.
Samsung Electronics Co., South Korea's largest exporter, retreated 2.1 percent to 558,000 won. James Hardie Industries NV, the biggest seller of home siding in the U.S., dropped 1.7 percent to A$6.26 in Sydney.
all-penny-stocks.com
Mizuho Financial Group Inc. and HSBC Holdings Plc dropped on concern banks may report widening losses from U.S. home loans to borrowers with poor credit after Wells Fargo & Co. said yesterday it's the worst housing market since the Great Depression.
``You just don't see an end to the subprime housing-loan problem,'' said Soichiro Monji, who helps oversee $47 billion at Daiwa SB Investments Ltd. in Tokyo. ``Unless we see some light at the end of the tunnel, we can't expect the market to rise.''
The Morgan Stanley Capital International Asia Pacific Index fell 2.2 percent to 157.78 as of 1:16 p.m. in Tokyo. The index has lost 7.9 percent in November, set for its biggest monthly drop since September 2001.
All 10 industry groups on the measure dropped today, with a group of financial stocks as the biggest contributor to the decline.
Falling stocks worldwide have wiped out more than $1.8 trillion in global market value this month to Nov. 14, according to data compiled by Bloomberg.
Japan's Nikkei 225 Stock Average slid 1.6 percent to 15,150.68, while the broader Topix index slumped 2 percent. Benchmarks in other markets open for trading fell, except in New Zealand.
Exporters Decline
In the U.S, the Dow Jones Industrial Average decreased 0.9 percent to 13,110.05. The Standard & Poor's 500 Index lost 1.3 percent and the Nasdaq Composite Index slipped 1 percent.
Toyota Motor, which gets about 70 percent of its profit from operations in North America, fell 1.6 percent to 6,120 yen. Canon, the world's biggest seller of digital cameras, declined 1.6 percent to 5,480 yen. Other stocks tumbled on concern the U.S. housing recession will crimp demand from Asia's biggest export market.
The yen strengthened to 110.03 to the dollar at 10:21 a.m. in Tokyo from 111.26 at the close of the Tokyo Stock Exchange yesterday. A stronger Japanese currency decreases the value of companies' overseas earnings when translated into yen.
Samsung Electronics Co., South Korea's largest exporter, retreated 2.1 percent to 558,000 won. James Hardie Industries NV, the biggest seller of home siding in the U.S., dropped 1.7 percent to A$6.26 in Sydney.
all-penny-stocks.com
Germany Stocks Update: DAX Index Falls 47.59 to 7,619.44
Germany's benchmark stock index, the DAX Index, fell 0.62 percent at 9:05 a.m.
The index of 30 companies traded on the Frankfurt Stock Exchange fell 47.59 to 7,619.44. Among the stocks in the index, 2 rose, 26 fell and 2 were unchanged.
Declines in the DAX were led by Allianz Se, Siemens Ag and Deutsche Bank Ag. About 2.35 million shares traded in the DAX.
all-penny-stocks.com
The index of 30 companies traded on the Frankfurt Stock Exchange fell 47.59 to 7,619.44. Among the stocks in the index, 2 rose, 26 fell and 2 were unchanged.
Declines in the DAX were led by Allianz Se, Siemens Ag and Deutsche Bank Ag. About 2.35 million shares traded in the DAX.
all-penny-stocks.com
четверг, 15 ноября 2007 г.
Japan's Nikkei 225 Declines on Concern U.S. Spending Slowing
Japan's Nikkei 225 Stock Average dropped. Exporters including Honda Motor Co. fell after reports from the U.S. suggested consumer spending is slowing in Japan's largest overseas market.
Honda, Japan's No. 2 automaker, snapped a two-day advance after the Commerce Department said U.S. department store sales fell last month and Macy's Inc. slashed its earnings forecast.
Advantest Corp. led semiconductor-related shares lower after Applied Materials Inc., the largest maker of chip- production machines, said profit slid 6.1 percent last quarter.
``Consumption will probably become weaker and weaker in the U.S., so I'm not bullish for the economy and the stock market,'' said Soichiro Monji, who helps oversee $47 billion at Daiwa SB Investments Ltd. in Tokyo.
The Nikkei 225 slid 103.26, or 0.7 percent, to 15,396.30 at the close of trading in Tokyo, its ninth decline in the last 10 days. The broader Topix added 1.15, or 0.1 percent, to 1,498.86. About three shares rose for every two that fell among the 1,718 Topix members.
Commodity-related shares including Mitsui & Co. advanced, leading gains in the Topix, after the price of oil had its biggest gain in two weeks and copper rose the most in 16 months. Daikin Industries Ltd. climbed after Japan's biggest maker of air conditioners said first-half profit doubled.
U.S. Spending
Honda slid 50 yen, or 1.3 percent, to 3,830. Nintendo Co., Japan's second-largest video-game maker, fell 700 yen, or 1.1 percent. to 63,300 in Osaka. Sharp Corp., Japan's largest maker of liquid-crystal display televisions, slumped 52 yen, or 2.8 percent, to 1,778.
U.S. department store sales fell 0.5 percent in October, the Commerce Department said yesterday. Additionally, Macy's Inc. tumbled the most in five years after saying same-store sales may drop in the fourth quarter and revenue will grow less than expected. The reports damped confidence sparked by Wal-Mart Stores Inc.'s earnings the previous day that exceeded analyst estimates. The U.S. is Japan's largest export market.
Advantest, the world's biggest maker of equipment used to test computer memory chips, slid 140 yen, or 4.6 percent, to 2,930, the lowest since July 2003. Tokyo Electron Ltd., the second-biggest maker of machines used to make semiconductors, fell 210 yen, or 3.4 percent, to 6,040.
Applied Materials said yesterday a computer-memory chip slump will reduce orders until the first half of next year. The company's shares fell 4.3 percent to $18 in extended trading.
pennystock-investor.com
Honda, Japan's No. 2 automaker, snapped a two-day advance after the Commerce Department said U.S. department store sales fell last month and Macy's Inc. slashed its earnings forecast.
Advantest Corp. led semiconductor-related shares lower after Applied Materials Inc., the largest maker of chip- production machines, said profit slid 6.1 percent last quarter.
``Consumption will probably become weaker and weaker in the U.S., so I'm not bullish for the economy and the stock market,'' said Soichiro Monji, who helps oversee $47 billion at Daiwa SB Investments Ltd. in Tokyo.
The Nikkei 225 slid 103.26, or 0.7 percent, to 15,396.30 at the close of trading in Tokyo, its ninth decline in the last 10 days. The broader Topix added 1.15, or 0.1 percent, to 1,498.86. About three shares rose for every two that fell among the 1,718 Topix members.
Commodity-related shares including Mitsui & Co. advanced, leading gains in the Topix, after the price of oil had its biggest gain in two weeks and copper rose the most in 16 months. Daikin Industries Ltd. climbed after Japan's biggest maker of air conditioners said first-half profit doubled.
U.S. Spending
Honda slid 50 yen, or 1.3 percent, to 3,830. Nintendo Co., Japan's second-largest video-game maker, fell 700 yen, or 1.1 percent. to 63,300 in Osaka. Sharp Corp., Japan's largest maker of liquid-crystal display televisions, slumped 52 yen, or 2.8 percent, to 1,778.
U.S. department store sales fell 0.5 percent in October, the Commerce Department said yesterday. Additionally, Macy's Inc. tumbled the most in five years after saying same-store sales may drop in the fourth quarter and revenue will grow less than expected. The reports damped confidence sparked by Wal-Mart Stores Inc.'s earnings the previous day that exceeded analyst estimates. The U.S. is Japan's largest export market.
Advantest, the world's biggest maker of equipment used to test computer memory chips, slid 140 yen, or 4.6 percent, to 2,930, the lowest since July 2003. Tokyo Electron Ltd., the second-biggest maker of machines used to make semiconductors, fell 210 yen, or 3.4 percent, to 6,040.
Applied Materials said yesterday a computer-memory chip slump will reduce orders until the first half of next year. The company's shares fell 4.3 percent to $18 in extended trading.
pennystock-investor.com
Asian Stocks Fall on Concern U.S. Growth to Slow; BHP Slides
Asian stocks declined after U.S. consumer spending slowed, suggesting that expansion in the world's largest economy is cooling. Honda Motor Co., which gets more of its earnings from the U.S. than other major Japanese carmakers, led the drop among exporters.
Sharp Corp., Japan's biggest maker of liquid-crystal display televisions, and Li & Fung Ltd., a Hong Kong-based supplier to Wal-Mart Stores Inc. and other U.S. clients, fell on concern overseas demand for their products will wane.
``Lingering worries about the U.S. economy capped investor confidence,'' said Ashley Kang, who helps manage $1.7 billion at IBT Securities Co. in Taipei. ``Export-dependent stocks are suffering.''
BHP Billiton Ltd. fell after an earthquake in Chile stopped production at its three mines there. National Australia Bank Ltd. led the nation's banks lower on speculation they will have to raise more capital after St. George Bank Ltd. sold shares.
The Morgan Stanley Capital International Asia Pacific Index fell 0.5 percent to 161.58 as of 7:34 p.m. in Tokyo.
Japan's Nikkei 225 Stock Average slid 0.7 percent to 15,396.30, while the broader Topix index rose 0.1 percent. Benchmarks retreated in other markets open for trading, except Indonesia and Sri Lanka.
China's CSI 300 Index dropped 1.3 percent to 5,081.11, the biggest drop in a week, after a report that industrial production rose 17.9 percent in October reignited concerns the central bank will raise interest rates for a sixth time this year.
Shares fell in the U.S. yesterday, sending the Standard & Poor's 500 Index lower by 0.7 percent. Department stores and computer makers led the drop after Macy's Inc. cut its sales forecast.
pennystock-investor.com
Sharp Corp., Japan's biggest maker of liquid-crystal display televisions, and Li & Fung Ltd., a Hong Kong-based supplier to Wal-Mart Stores Inc. and other U.S. clients, fell on concern overseas demand for their products will wane.
``Lingering worries about the U.S. economy capped investor confidence,'' said Ashley Kang, who helps manage $1.7 billion at IBT Securities Co. in Taipei. ``Export-dependent stocks are suffering.''
BHP Billiton Ltd. fell after an earthquake in Chile stopped production at its three mines there. National Australia Bank Ltd. led the nation's banks lower on speculation they will have to raise more capital after St. George Bank Ltd. sold shares.
The Morgan Stanley Capital International Asia Pacific Index fell 0.5 percent to 161.58 as of 7:34 p.m. in Tokyo.
Japan's Nikkei 225 Stock Average slid 0.7 percent to 15,396.30, while the broader Topix index rose 0.1 percent. Benchmarks retreated in other markets open for trading, except Indonesia and Sri Lanka.
China's CSI 300 Index dropped 1.3 percent to 5,081.11, the biggest drop in a week, after a report that industrial production rose 17.9 percent in October reignited concerns the central bank will raise interest rates for a sixth time this year.
Shares fell in the U.S. yesterday, sending the Standard & Poor's 500 Index lower by 0.7 percent. Department stores and computer makers led the drop after Macy's Inc. cut its sales forecast.
pennystock-investor.com
вторник, 13 ноября 2007 г.
Asian Stocks Rise the Most in Eight Weeks; Toyota Advances
Asian stocks rose the most in eight weeks, extending a global rally. Toyota Motor Corp. and Canon Inc. led exporters higher after the yen weakened against the dollar and Wal-Mart Stores Inc.'s profit beat estimates.
Mitsubishi UFJ Financial Group Inc. and National Australia Bank Ltd. paced gains among banks after Goldman Sachs Group Inc. said it doesn't plan significant writedowns on mortgage-related securities, easing concern credit-market losses will spread and helping U.S. stocks rally the most in a month.
``The Wal-Mart result shows the U.S. consumer is still spending,'' said Paul Xiradis, who manages about $8.3 billion at Ausbil Dexia Ltd. in Sydney. ``On the U.S. investment-banking front for the moment things are looking better than expected.''
The Morgan Stanley Capital International Asia Pacific Index added 2.6 percent to 162.39 as of 3:49 p.m. in Tokyo, the most since Sept. 19. All 10 industry groups advanced. Markets open for trading around the region climbed. China's CSI 300 Index rose the most in two weeks after retail sales grew at the fastest pace in more than eight years.
Tokyo Electron Ltd., the world's second-largest maker of machines used to produce semiconductors, jumped after saying orders will climb and Deutsche Bank AG raised its rating. Posco rose after UBS AG suggested investors buy steelmaker shares, saying earnings will recover this quarter.
Japan's Nikkei 225 Stock Average increased 2.5 percent to 15,499.56, its first gain in nine days. China Mobile Ltd. jumped in Hong Kong, where the Hang Seng Index rose 4.4 percent, the most since Aug. 20 and the region's best performer, after investors said a possible tie-up to sell Apple Inc.'s iPhones may benefit the company.
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Mitsubishi UFJ Financial Group Inc. and National Australia Bank Ltd. paced gains among banks after Goldman Sachs Group Inc. said it doesn't plan significant writedowns on mortgage-related securities, easing concern credit-market losses will spread and helping U.S. stocks rally the most in a month.
``The Wal-Mart result shows the U.S. consumer is still spending,'' said Paul Xiradis, who manages about $8.3 billion at Ausbil Dexia Ltd. in Sydney. ``On the U.S. investment-banking front for the moment things are looking better than expected.''
The Morgan Stanley Capital International Asia Pacific Index added 2.6 percent to 162.39 as of 3:49 p.m. in Tokyo, the most since Sept. 19. All 10 industry groups advanced. Markets open for trading around the region climbed. China's CSI 300 Index rose the most in two weeks after retail sales grew at the fastest pace in more than eight years.
Tokyo Electron Ltd., the world's second-largest maker of machines used to produce semiconductors, jumped after saying orders will climb and Deutsche Bank AG raised its rating. Posco rose after UBS AG suggested investors buy steelmaker shares, saying earnings will recover this quarter.
Japan's Nikkei 225 Stock Average increased 2.5 percent to 15,499.56, its first gain in nine days. China Mobile Ltd. jumped in Hong Kong, where the Hang Seng Index rose 4.4 percent, the most since Aug. 20 and the region's best performer, after investors said a possible tie-up to sell Apple Inc.'s iPhones may benefit the company.
penny-stock-usa.com
Alstom, Avenir Telecom, Lagardere, Touax: French Equity Preview
The following is a list of companies whose shares may have unusual price changes in Paris. Stock symbols are in parentheses after company names. Share prices are from the last close.
France's benchmark CAC 40 Index rose 3.35, or 0.1 percent, to 5,538.91 in Paris. The SBF 120 Index fell 0.33 to 4,027.33.
Adenclassifieds SA (ADEN FP): The Internet classified ad company said third-quarter sales rose 34 percent to 11.1 million euros. The shares dropped 16 cents, or 0.5 percent, to 35.79 euros.
Alstom SA (ALO FP): The world's largest maker of coal-fired power plants signed a letter of intent to supply four turbines to Unistar Nuclear Energy LLC for U.S. nuclear plants. The shares fell 2.24 euros, or 1.6 percent, to 142.68 euros.
ArcelorMittal (LOR FP): The world's biggest steelmaker reports earnings before the market opens in Paris. It may report third-quarter profit of $2.4 billion, bolstered by increased cost savings and higher steel prices, according to the median estimate of seven analysts surveyed by Bloomberg News. The shares fell 1.83 euros, or 3.6 percent, to 49.11 euros.
Assystem SA (ASY FP): The French software company said third quarter sales dropped 1.3 percent to 154.1 million euros. The shares fell 38 cents, or 3.8 percent, to 9.64 euros.
Ausy (OSI FP): The consulting and technology-engineering company said third-quarter sales rose to 27.34 million euros from 19.99 million euros a year earlier. The shares added 15 cents, or 1.1 percent, to 14.20 euros.
Avenir Telecom SA (AVT FP): The mobile-phone services company's second-quarter sales rose 14 percent to 187.2 million euros. The shares fell 2 cents, or 1.1 percent, to 1.76 euros.
Cafom SA (CAFO FP): The household furnishings retailer specialized in French territories in the Caribbean and Indian Ocean said sales for the first-half of its fiscal year increased 52 percent to 106.6 million euros. The shares lost 98 cents, or 4.5 percent, to 20.61 euros.
Cegedim SA (CGM FP): The maker of sales-tracking software for drugmakers including Pfizer Inc. said third-quarter revenue rose to 191.7 million euros from 116.2 million euros a year earlier. The stock price dropped 1.19 euros, or 1.5 percent, to 79.50 euros.
penny-stock-usa.com
France's benchmark CAC 40 Index rose 3.35, or 0.1 percent, to 5,538.91 in Paris. The SBF 120 Index fell 0.33 to 4,027.33.
Adenclassifieds SA (ADEN FP): The Internet classified ad company said third-quarter sales rose 34 percent to 11.1 million euros. The shares dropped 16 cents, or 0.5 percent, to 35.79 euros.
Alstom SA (ALO FP): The world's largest maker of coal-fired power plants signed a letter of intent to supply four turbines to Unistar Nuclear Energy LLC for U.S. nuclear plants. The shares fell 2.24 euros, or 1.6 percent, to 142.68 euros.
ArcelorMittal (LOR FP): The world's biggest steelmaker reports earnings before the market opens in Paris. It may report third-quarter profit of $2.4 billion, bolstered by increased cost savings and higher steel prices, according to the median estimate of seven analysts surveyed by Bloomberg News. The shares fell 1.83 euros, or 3.6 percent, to 49.11 euros.
Assystem SA (ASY FP): The French software company said third quarter sales dropped 1.3 percent to 154.1 million euros. The shares fell 38 cents, or 3.8 percent, to 9.64 euros.
Ausy (OSI FP): The consulting and technology-engineering company said third-quarter sales rose to 27.34 million euros from 19.99 million euros a year earlier. The shares added 15 cents, or 1.1 percent, to 14.20 euros.
Avenir Telecom SA (AVT FP): The mobile-phone services company's second-quarter sales rose 14 percent to 187.2 million euros. The shares fell 2 cents, or 1.1 percent, to 1.76 euros.
Cafom SA (CAFO FP): The household furnishings retailer specialized in French territories in the Caribbean and Indian Ocean said sales for the first-half of its fiscal year increased 52 percent to 106.6 million euros. The shares lost 98 cents, or 4.5 percent, to 20.61 euros.
Cegedim SA (CGM FP): The maker of sales-tracking software for drugmakers including Pfizer Inc. said third-quarter revenue rose to 191.7 million euros from 116.2 million euros a year earlier. The stock price dropped 1.19 euros, or 1.5 percent, to 79.50 euros.
penny-stock-usa.com
Asian Stocks Gain, Led by Aiful and ANZ Bank; PetroChina Falls
Asian stocks rose for the first time in four days after consumer spending unexpectedly climbed in Japan and investors judged that recent declines were excessive.
Aiful Corp., Japan's biggest lender to individuals by assets, had its first gain in five days. Australia & New Zealand Banking Group Ltd., Australia's No. 3 lender, rebounded from a three- month low, while HDFC Bank Ltd., India's third-largest lender by value, snapped a six-day loss.
PetroChina Co., the world's biggest company by market value, slid to a five-week low after crude oil and metal prices fell on speculation the global economy will slow, eroding raw-materials demand. Mitsubishi Corp., Japan's largest trading company, sank to the lowest in two months. Oil surged to a record last week.
``The market has sold off excessively and we are looking for buying opportunities,'' said Leslie Phang, who helps manage $1 billion at Commonwealth Private Bank in Singapore. ``The question is will the slowing economy derail demand for commodities? Current price levels are not sustainable.''
The Morgan Stanley Capital International Asia Pacific Index added 0.1 percent to 158.52 as of 5:47 p.m. in Tokyo, after a three-day, 5.4 percent slump. A measure of financial shares climbed the most among the benchmark's 10 industry groups.
Japan's Nikkei 225 Stock Average slid 0.5 percent to 15,126.63, its eighth straight loss. The measure earlier gained as much as 0.3 percent after the Cabinet Office said the economy expanded an annualized 2.6 percent in the quarter ended Sept. 30.
Casio Computer Co., the maker of G-Shock watches and Exilim mobile phones, jumped after Merrill Lynch & Co. raised its rating on the stock. Macquarie Group Ltd., Australia's biggest securities firm, fell to a one-week low after saying a faltering rally in equity markets may make it harder for the company to repeat its record 45 percent profit growth in the first half.
pennystock-knowlege.com
Aiful Corp., Japan's biggest lender to individuals by assets, had its first gain in five days. Australia & New Zealand Banking Group Ltd., Australia's No. 3 lender, rebounded from a three- month low, while HDFC Bank Ltd., India's third-largest lender by value, snapped a six-day loss.
PetroChina Co., the world's biggest company by market value, slid to a five-week low after crude oil and metal prices fell on speculation the global economy will slow, eroding raw-materials demand. Mitsubishi Corp., Japan's largest trading company, sank to the lowest in two months. Oil surged to a record last week.
``The market has sold off excessively and we are looking for buying opportunities,'' said Leslie Phang, who helps manage $1 billion at Commonwealth Private Bank in Singapore. ``The question is will the slowing economy derail demand for commodities? Current price levels are not sustainable.''
The Morgan Stanley Capital International Asia Pacific Index added 0.1 percent to 158.52 as of 5:47 p.m. in Tokyo, after a three-day, 5.4 percent slump. A measure of financial shares climbed the most among the benchmark's 10 industry groups.
Japan's Nikkei 225 Stock Average slid 0.5 percent to 15,126.63, its eighth straight loss. The measure earlier gained as much as 0.3 percent after the Cabinet Office said the economy expanded an annualized 2.6 percent in the quarter ended Sept. 30.
Casio Computer Co., the maker of G-Shock watches and Exilim mobile phones, jumped after Merrill Lynch & Co. raised its rating on the stock. Macquarie Group Ltd., Australia's biggest securities firm, fell to a one-week low after saying a faltering rally in equity markets may make it harder for the company to repeat its record 45 percent profit growth in the first half.
pennystock-knowlege.com
European Bank Stocks Cut to `Cautious' View at Morgan Stanley
European bank stocks were downgraded at Morgan Stanley on concern the credit market turmoil will slow economic growth.
The brokerage cut its view on banks to ``cautious'' from `in-line'' and lowered the financial industry to ``underweight'' from ``neutral,'' according to a report dated Nov. 12.
``The deepening of the ongoing financial crisis could have a serious impact on the economy,'' analysts including Huw Van Steenis wrote in the note.
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The brokerage cut its view on banks to ``cautious'' from `in-line'' and lowered the financial industry to ``underweight'' from ``neutral,'' according to a report dated Nov. 12.
``The deepening of the ongoing financial crisis could have a serious impact on the economy,'' analysts including Huw Van Steenis wrote in the note.
pennystock-knowlege.com
понедельник, 12 ноября 2007 г.
Japan's Topix Drops to a 2-Year Low; Exporters, Banks Lead Fall
Japanese stocks dropped, driving the Topix index to the lowest in more than two years, after reports of subprime losses at U.S. banks sent the dollar tumbling, clouding the profit outlook for companies including Canon Inc.
Canon, which generated almost 75 percent of its sales overseas last year, slid to the lowest in three months. Mizuho Financial Group Inc. tumbled to the lowest since August 2005 on concern more announcements of subprime losses may be forthcoming.
In the U.S., the Standard & Poor's 500 Index slumped 1.4 percent on Nov. 9 after Wachovia Corp. announced losses on subprime-related investments, while Bank of America Corp. and JPMorgan Chase & Co. also said their earnings may suffer.\
``Investors have to reevaluate what shares are worth as the U.S. starts pulling down economies globally,'' said Takashi Kamiya, who helps oversee $16 billion at T&D Asset Management Co. in Tokyo. ``The continued weakness of the dollar is going to cause substantial damage to exporters' earnings.''
The Nikkei 225 Stock Average lost 386.33, or 2.5 percent, to 15,197.09 at the close of trading in Tokyo, a level not seen since July 2006. The broader Topix declined 37.95, or 2.5 percent, to 1,456.40, the lowest since Oct. 31, 2005. All 33 industry groups included in the gauge fell.
Shares extended declines in the afternoon after an order by China's government to increase bank reserves sent stocks there tumbling.
Subprime Losses
Canon slid 150 yen, or 2.7 percent, to 5,430. Honda Motor Co., which expects the yen to average 113 per dollar this year, declined 140 yen, or 3.6 percent, to 3,760. Toyota Motor Corp., the world's largest automaker by value, fell 170 yen, or 2.8 percent, to 5,980.
Wachovia, the fourth-biggest U.S. bank, said on Nov. 9 it may have lost as much as $1.7 billion this quarter on mortgage- related investments. Bank of America and JPMorgan, the No. 2 and No. 3 lenders, reported that their fourth-quarter results may be hurt by tightening credit markets.
HSBC Holdings Plc is set to announce $1 billion of bad debts from its subprime mortgage business, the Daily Telegraph reported yesterday. Morgan Stanley cut its rating on the shares because of concern about potential losses.
Also in the U.S., Qualcomm Inc., the world's second-biggest maker of mobile-phone chips, trimmed its profit forecast and Bear Stearns & Co. cut its earnings estimates for retailers including Target Corp. due to the slowing economy.
stock-movies.com
Canon, which generated almost 75 percent of its sales overseas last year, slid to the lowest in three months. Mizuho Financial Group Inc. tumbled to the lowest since August 2005 on concern more announcements of subprime losses may be forthcoming.
In the U.S., the Standard & Poor's 500 Index slumped 1.4 percent on Nov. 9 after Wachovia Corp. announced losses on subprime-related investments, while Bank of America Corp. and JPMorgan Chase & Co. also said their earnings may suffer.\
``Investors have to reevaluate what shares are worth as the U.S. starts pulling down economies globally,'' said Takashi Kamiya, who helps oversee $16 billion at T&D Asset Management Co. in Tokyo. ``The continued weakness of the dollar is going to cause substantial damage to exporters' earnings.''
The Nikkei 225 Stock Average lost 386.33, or 2.5 percent, to 15,197.09 at the close of trading in Tokyo, a level not seen since July 2006. The broader Topix declined 37.95, or 2.5 percent, to 1,456.40, the lowest since Oct. 31, 2005. All 33 industry groups included in the gauge fell.
Shares extended declines in the afternoon after an order by China's government to increase bank reserves sent stocks there tumbling.
Subprime Losses
Canon slid 150 yen, or 2.7 percent, to 5,430. Honda Motor Co., which expects the yen to average 113 per dollar this year, declined 140 yen, or 3.6 percent, to 3,760. Toyota Motor Corp., the world's largest automaker by value, fell 170 yen, or 2.8 percent, to 5,980.
Wachovia, the fourth-biggest U.S. bank, said on Nov. 9 it may have lost as much as $1.7 billion this quarter on mortgage- related investments. Bank of America and JPMorgan, the No. 2 and No. 3 lenders, reported that their fourth-quarter results may be hurt by tightening credit markets.
HSBC Holdings Plc is set to announce $1 billion of bad debts from its subprime mortgage business, the Daily Telegraph reported yesterday. Morgan Stanley cut its rating on the shares because of concern about potential losses.
Also in the U.S., Qualcomm Inc., the world's second-biggest maker of mobile-phone chips, trimmed its profit forecast and Bear Stearns & Co. cut its earnings estimates for retailers including Target Corp. due to the slowing economy.
stock-movies.com
Asian Stocks Decline as Subprime Losses Widen, Yen Strengthens
Asian stocks tumbled, sending a regional index to its biggest drop in three months, on speculation HSBC Holdings Plc and other banks will report increased losses related to U.S. subprime mortgages.
Japan's Nintendo Co., which gets two-thirds of sales abroad, led declines among exporters after the dollar slumped against the yen. PetroChina Co. and Woodside Petroleum Ltd. fell after the price of crude oil dropped. HSBC slumped 2.8 percent after the Daily Telegraph newspaper said it may announce $1 billion of bad debts and Morgan Stanley cut its rating.
``Investors have to reevaluate what shares are worth as the U.S. starts pulling down economies globally,'' said Takashi Kamiya, who helps oversee $16 billion at T&D Asset Management Co. in Tokyo. ``The continued weakness of the dollar is going to cause substantial damage to exporters' earnings.''
The Morgan Stanley Capital International Asia Pacific Index fell 2.9 percent to 158.11 as of 7:03 p.m. in Tokyo, set for its biggest loss since Aug. 17 and the lowest close since Sept. 24. Benchmarks slid in the region, except for Pakistan and Sri Lanka.
Hong Kong's Hang Seng Index led losses after Credit Suisse Group said China will ``delay'' a plan to allow mainland citizens to buy the city's shares. China's CSI 300 Index dropped after the government ordered banks to increase their reserves to cool economic growth. Japan's Topix index sank to a two-year low.
Nintendo, maker of the Wii game console, fell 4.2 percent to 58,800 yen. It loses 3 billion yen ($27 million) in profit from operations for every 1 yen that the currency strengthens against the dollar. Honda Motor Co., Japan's No. 2 automaker, slid 3.6 percent to 3,760 yen. North America accounted for more than half of Honda's sales in the 12 months ended March 2007.
Dollar Weakness
The dollar fell to as low as 109.85 against the yen today, a level not seen since May 2006. A weaker U.S. currency lowers the value of exporters' dollar-denominated sales when converted into local currency. The U.S. is Japan's biggest overseas market.
PetroChina, the nation's largest oil producer, slumped 7.3 percent to HK$14.96. Woodside Petroleum lost 5.9 percent to A$52.09. Oil for December delivery fell as much as 1.5 percent to $94.86 a barrel in after-hours electronic trading on the New York Mercantile Exchange. Futures were recently at $95.61.
U.S. stocks slumped on Nov. 9 after Wachovia Corp., the fourth-biggest U.S. bank, said it may have lost as much as $1.7 billion this quarter on mortgage-related investments. Bank of America Corp. and JPMorgan Chase & Co. the No. 2 and No. 3 U.S. lenders, reported that their fourth-quarter results may be hurt by tightening credit markets.
stock-movies.com
Japan's Nintendo Co., which gets two-thirds of sales abroad, led declines among exporters after the dollar slumped against the yen. PetroChina Co. and Woodside Petroleum Ltd. fell after the price of crude oil dropped. HSBC slumped 2.8 percent after the Daily Telegraph newspaper said it may announce $1 billion of bad debts and Morgan Stanley cut its rating.
``Investors have to reevaluate what shares are worth as the U.S. starts pulling down economies globally,'' said Takashi Kamiya, who helps oversee $16 billion at T&D Asset Management Co. in Tokyo. ``The continued weakness of the dollar is going to cause substantial damage to exporters' earnings.''
The Morgan Stanley Capital International Asia Pacific Index fell 2.9 percent to 158.11 as of 7:03 p.m. in Tokyo, set for its biggest loss since Aug. 17 and the lowest close since Sept. 24. Benchmarks slid in the region, except for Pakistan and Sri Lanka.
Hong Kong's Hang Seng Index led losses after Credit Suisse Group said China will ``delay'' a plan to allow mainland citizens to buy the city's shares. China's CSI 300 Index dropped after the government ordered banks to increase their reserves to cool economic growth. Japan's Topix index sank to a two-year low.
Nintendo, maker of the Wii game console, fell 4.2 percent to 58,800 yen. It loses 3 billion yen ($27 million) in profit from operations for every 1 yen that the currency strengthens against the dollar. Honda Motor Co., Japan's No. 2 automaker, slid 3.6 percent to 3,760 yen. North America accounted for more than half of Honda's sales in the 12 months ended March 2007.
Dollar Weakness
The dollar fell to as low as 109.85 against the yen today, a level not seen since May 2006. A weaker U.S. currency lowers the value of exporters' dollar-denominated sales when converted into local currency. The U.S. is Japan's biggest overseas market.
PetroChina, the nation's largest oil producer, slumped 7.3 percent to HK$14.96. Woodside Petroleum lost 5.9 percent to A$52.09. Oil for December delivery fell as much as 1.5 percent to $94.86 a barrel in after-hours electronic trading on the New York Mercantile Exchange. Futures were recently at $95.61.
U.S. stocks slumped on Nov. 9 after Wachovia Corp., the fourth-biggest U.S. bank, said it may have lost as much as $1.7 billion this quarter on mortgage-related investments. Bank of America Corp. and JPMorgan Chase & Co. the No. 2 and No. 3 U.S. lenders, reported that their fourth-quarter results may be hurt by tightening credit markets.
stock-movies.com
суббота, 10 ноября 2007 г.
U.K. Stocks Drop, Paced by Friends Provident; Barclays Declines
U.K. stocks fell for a third day, led by Friends Provident Plc as UBS AG lowered its price estimate on the shares by 17 percent. Barclays Plc dropped on concern it may write down as much as 10 billion pounds ($21 billion).
Rio Tinto Group advanced as Deutsche Bank AG said consolidation in the industry would be ``positive for metals and mining companies.''
The FTSE 100 Index lost 77, or 1.2 percent, to 6,304.9. The measure lost 3.5 percent over the last five days, the second straight weekly loss. The FTSE All-Share Index dropped 1.3 percent on the day to 3,237.32. Ireland's ISEQ Index added 1.2 percent to 7,128.69.
Friends Provident tumbled 7.2 percent to 148.7 pence, its lowest in almost three years. UBS lowered its price estimate on the stock of the U.K. life insurer to 175 pence from 210 in resumed coverage. A merger between Resolution Plc and Friends Provident collapsed after Standard Life Plc agreed to buy Resolution.
``Investors are currently according no value to new business at Friends Provident,'' Roger Hill, London-based analyst at UBS wrote in a report to clients. ``The termination of the merger agreement comes at a time when the U.K. industry appears to be struggling to show real growth and there are signs of greater competition.''
Standard Life, the U.K. insurer competing with Pearl Group Ltd. to buy Resolution, dropped 3.9 percent to 243.75 pence.
``It's a general contagion spreading across the financial sector, with insurers, we have also seen share price writedowns on the credit insurers in the U.S,'' said Greg Smith, managing director of the investment adviser Fat Prophets U.K. Ltd. in London.
Barclays, Britain's third-biggest bank, slumped 2.4 percent to 474.5 pence. Barclays spokesman Alistair Smith said there was ``absolutely no substance'' to the writedown speculation.
``Bad news regarding U.K. banks continues to take a toll on share prices and in particular concerns appear to have moved on to their capital positions and their ability to take further potential writedowns,'' London-based JPMorgan Chase & Co. analyst Carla Antunes da Silva wrote in a note to clients today.
Rio Tinto, the world's third biggest mining company, climbed 6.2 percent to 5,624 pence.
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Rio Tinto Group advanced as Deutsche Bank AG said consolidation in the industry would be ``positive for metals and mining companies.''
The FTSE 100 Index lost 77, or 1.2 percent, to 6,304.9. The measure lost 3.5 percent over the last five days, the second straight weekly loss. The FTSE All-Share Index dropped 1.3 percent on the day to 3,237.32. Ireland's ISEQ Index added 1.2 percent to 7,128.69.
Friends Provident tumbled 7.2 percent to 148.7 pence, its lowest in almost three years. UBS lowered its price estimate on the stock of the U.K. life insurer to 175 pence from 210 in resumed coverage. A merger between Resolution Plc and Friends Provident collapsed after Standard Life Plc agreed to buy Resolution.
``Investors are currently according no value to new business at Friends Provident,'' Roger Hill, London-based analyst at UBS wrote in a report to clients. ``The termination of the merger agreement comes at a time when the U.K. industry appears to be struggling to show real growth and there are signs of greater competition.''
Standard Life, the U.K. insurer competing with Pearl Group Ltd. to buy Resolution, dropped 3.9 percent to 243.75 pence.
``It's a general contagion spreading across the financial sector, with insurers, we have also seen share price writedowns on the credit insurers in the U.S,'' said Greg Smith, managing director of the investment adviser Fat Prophets U.K. Ltd. in London.
Barclays, Britain's third-biggest bank, slumped 2.4 percent to 474.5 pence. Barclays spokesman Alistair Smith said there was ``absolutely no substance'' to the writedown speculation.
``Bad news regarding U.K. banks continues to take a toll on share prices and in particular concerns appear to have moved on to their capital positions and their ability to take further potential writedowns,'' London-based JPMorgan Chase & Co. analyst Carla Antunes da Silva wrote in a note to clients today.
Rio Tinto, the world's third biggest mining company, climbed 6.2 percent to 5,624 pence.
stock-articles.com
European Stocks Decline, Led by Nokia, Syngenta, RBS, Barclays
European stocks fell the most in two months on concern a weaker dollar will curb profits for technology and chemical companies and more banks will report losses related to subprime mortgage defaults in the U.S.
Nokia Oyj, Alcatel-Lucent SA and Syngenta AG paced a decline by companies that rely on the U.S. for revenue. Royal Bank of Scotland Group Plc, UniCredit SpA and Barclays Plc led financial shares lower.
The Dow Jones Stoxx 600 Index lost 1.6 percent to 367.57, the biggest drop since Sept. 7, bringing the weekly decline to 3.3 percent and almost erasing this year's gains. Wachovia Corp. of the U.S. said today it may raise allocations for loan losses.
``The sudden spikes of the euro are causing increasing concern currency effects may have a negative impact on earnings,'' said Helge Rechberger, head of equity market research at Raiffeisen Zentralbank in Vienna. ``Wachovia's announcement also weighs on the market.''
Analysts have cut their earnings growth forecasts for Stoxx 600 companies this year to 9.2 percent from 9.9 percent at the start of last month, data compiled by Bloomberg shows.
The risk of European companies defaulting on their debt rose, according to traders of credit-default swaps. European government bonds gained for a third day on speculation losses from the U.S. housing market will spread, fueling demand for the safest assets.
National Benchmarks
National benchmarks dropped in all 18 western European markets, except in Portugal and Ireland. The U.K.'s FTSE 100 slid 1.2 percent, and France's CAC 40 sank 1.9 percent. Germany's DAX lost 0.1 percent. The Stoxx 50 lost 1.7 percent, and the Euro Stoxx 50, a measure for the euro region, slid 1.5 percent.
stock-articles.com
Nokia Oyj, Alcatel-Lucent SA and Syngenta AG paced a decline by companies that rely on the U.S. for revenue. Royal Bank of Scotland Group Plc, UniCredit SpA and Barclays Plc led financial shares lower.
The Dow Jones Stoxx 600 Index lost 1.6 percent to 367.57, the biggest drop since Sept. 7, bringing the weekly decline to 3.3 percent and almost erasing this year's gains. Wachovia Corp. of the U.S. said today it may raise allocations for loan losses.
``The sudden spikes of the euro are causing increasing concern currency effects may have a negative impact on earnings,'' said Helge Rechberger, head of equity market research at Raiffeisen Zentralbank in Vienna. ``Wachovia's announcement also weighs on the market.''
Analysts have cut their earnings growth forecasts for Stoxx 600 companies this year to 9.2 percent from 9.9 percent at the start of last month, data compiled by Bloomberg shows.
The risk of European companies defaulting on their debt rose, according to traders of credit-default swaps. European government bonds gained for a third day on speculation losses from the U.S. housing market will spread, fueling demand for the safest assets.
National Benchmarks
National benchmarks dropped in all 18 western European markets, except in Portugal and Ireland. The U.K.'s FTSE 100 slid 1.2 percent, and France's CAC 40 sank 1.9 percent. Germany's DAX lost 0.1 percent. The Stoxx 50 lost 1.7 percent, and the Euro Stoxx 50, a measure for the euro region, slid 1.5 percent.
stock-articles.com
пятница, 9 ноября 2007 г.
Asian Stocks Fall; Mizuho Declines on Report of Subprime Losses
Asian stocks fell, sending a regional benchmark to its biggest weekly loss in almost three months, on speculation Mizuho Financial Group Inc. will delay a brokerage merger because of subprime-mortgage losses.
Mizuho dropped to the lowest in more than two years after a report in Japan's Nikkei newspaper said Mizuho Securities Co. had losses exceeding 100 billion yen ($888 million), delaying its plan to combine with Shinko Securities Co.
Nintendo Co. declined after Federal Reserve Chairman Ben S. Bernanke said U.S. growth may ``slow noticeably,'' raising concern that exports to Asia's largest export market will slump.
``We should be worried about all the financials,'' said Masafumi Oshiden, a fund manager in Tokyo at BlackRock Japan Co., whose parent company holds $1.1 trillion in assets. ``If the banks' attitude towards lending to small and mid-sized companies slows down, that could mean the economy slowing down.''
The Morgan Stanley Capital International Asia Pacific Index fell 0.6 percent to 162.02 as of 5:28 p.m. in Tokyo. Financial shares were the biggest drag among the benchmark's 10 industry groups. The index has lost 3.8 percent in five days, set for its biggest weekly decline since August on concern credit losses in the U.S. will slow growth in the world's largest economy.
Japan's Nikkei 225 Stock Average slipped 1.2 percent to 15,583.42, its sixth straight day of losses. Benchmarks fell in China, Singapore, Malaysia, New Zealand and Sri Lanka.
Rio Tinto Group jumped the most in 20 years after BHP Billiton Ltd. made an approach that may lead to a record takeover. China Petroleum & Chemical Corp., Asia's biggest refiner, rose after Goldman, Sachs & Co. recommended the stock.
bull-report.com
Mizuho dropped to the lowest in more than two years after a report in Japan's Nikkei newspaper said Mizuho Securities Co. had losses exceeding 100 billion yen ($888 million), delaying its plan to combine with Shinko Securities Co.
Nintendo Co. declined after Federal Reserve Chairman Ben S. Bernanke said U.S. growth may ``slow noticeably,'' raising concern that exports to Asia's largest export market will slump.
``We should be worried about all the financials,'' said Masafumi Oshiden, a fund manager in Tokyo at BlackRock Japan Co., whose parent company holds $1.1 trillion in assets. ``If the banks' attitude towards lending to small and mid-sized companies slows down, that could mean the economy slowing down.''
The Morgan Stanley Capital International Asia Pacific Index fell 0.6 percent to 162.02 as of 5:28 p.m. in Tokyo. Financial shares were the biggest drag among the benchmark's 10 industry groups. The index has lost 3.8 percent in five days, set for its biggest weekly decline since August on concern credit losses in the U.S. will slow growth in the world's largest economy.
Japan's Nikkei 225 Stock Average slipped 1.2 percent to 15,583.42, its sixth straight day of losses. Benchmarks fell in China, Singapore, Malaysia, New Zealand and Sri Lanka.
Rio Tinto Group jumped the most in 20 years after BHP Billiton Ltd. made an approach that may lead to a record takeover. China Petroleum & Chemical Corp., Asia's biggest refiner, rose after Goldman, Sachs & Co. recommended the stock.
bull-report.com
French Stocks Including Michelin Rise; Vallourec, Renault Fall
French stocks including Michelin & Cie. advanced. Vallourec SA declined.
The CAC 40 Index added 3.53, or 0.1 percent, to 5,635.16 at 9:09 a.m. in Paris, heading for a 1.5 percent drop this week. The SBF 120 Index also gained 0.1 percent today.
Michelin, the world's second-largest tiremaker, climbed 3.1 percent to 88.4 euros. Credit Suisse Group gave the shares an ``outperform'' recommendation in new coverage.
``Automotive suppliers have a historic opportunity to benefit from a rising tide of environmental legislation,'' the analysts wrote. ``Meeting Europe's CO2 challenge alone will provide a revenue opportunity of up to 15 billion euros ($22 billion) for suppliers of key efficiency technologies.''
Vallourec retreated 2 percent to 198 euros. UBS cut its share-price estimate on the maker of steel tubes to carry oil and gas by 11 percent to 210 euros, and lowered its recommendation on the stock to ``neutral'' from ``buy.''
The following shares rose or fell in Paris. Stock symbols are in parentheses.
Aeroports de Paris SA (ADP FP) gained 2.11 euros, or 2.7 percent, to 80.5. The operator of Paris's airports said third- quarter sales rose 14 percent to 614.1 million euros ($903.4 million) as airlines offered more flights to the French capital and the company raised landing fees.
Alstom SA (ALO FP) added 2.23 euros, or 1.5 percent, to 152.82. ING raised its share-price estimate on the world's third-largest power plant maker by 18 percent to 183 euros.
Beneteau SA (BEN FP) advanced 61 cents, or 3.2 percent, to 20 euros. The world's biggest sailboat maker said fiscal full- year profit rose 31 percent to 93.6 million euros. The company, which sees a ``favorable start'' to its fiscal 2008 year, said it will propose a dividend of 39 cents per share.
Renault SA (RNO FP) dropped 1.03 euros, or 1 percent, to 99.96. Shares of France's second-biggest carmaker were removed from Goldman, Sachs & Co.'s ``Conviction Buy'' list.
bull-report.com
The CAC 40 Index added 3.53, or 0.1 percent, to 5,635.16 at 9:09 a.m. in Paris, heading for a 1.5 percent drop this week. The SBF 120 Index also gained 0.1 percent today.
Michelin, the world's second-largest tiremaker, climbed 3.1 percent to 88.4 euros. Credit Suisse Group gave the shares an ``outperform'' recommendation in new coverage.
``Automotive suppliers have a historic opportunity to benefit from a rising tide of environmental legislation,'' the analysts wrote. ``Meeting Europe's CO2 challenge alone will provide a revenue opportunity of up to 15 billion euros ($22 billion) for suppliers of key efficiency technologies.''
Vallourec retreated 2 percent to 198 euros. UBS cut its share-price estimate on the maker of steel tubes to carry oil and gas by 11 percent to 210 euros, and lowered its recommendation on the stock to ``neutral'' from ``buy.''
The following shares rose or fell in Paris. Stock symbols are in parentheses.
Aeroports de Paris SA (ADP FP) gained 2.11 euros, or 2.7 percent, to 80.5. The operator of Paris's airports said third- quarter sales rose 14 percent to 614.1 million euros ($903.4 million) as airlines offered more flights to the French capital and the company raised landing fees.
Alstom SA (ALO FP) added 2.23 euros, or 1.5 percent, to 152.82. ING raised its share-price estimate on the world's third-largest power plant maker by 18 percent to 183 euros.
Beneteau SA (BEN FP) advanced 61 cents, or 3.2 percent, to 20 euros. The world's biggest sailboat maker said fiscal full- year profit rose 31 percent to 93.6 million euros. The company, which sees a ``favorable start'' to its fiscal 2008 year, said it will propose a dividend of 39 cents per share.
Renault SA (RNO FP) dropped 1.03 euros, or 1 percent, to 99.96. Shares of France's second-biggest carmaker were removed from Goldman, Sachs & Co.'s ``Conviction Buy'' list.
bull-report.com
четверг, 8 ноября 2007 г.
Asian Stocks Slump as Dollar Tumbles, Subprime Losses Widen
Asian stocks fell the most in 12 weeks, extending a global rout after the dollar plunged yesterday, oil slumped and U.S. financial companies disclosed mounting credit-market losses.
Toyota Motor Corp., which got 37 percent of its sales from North America in the last financial year, led exporters lower on concern a weaker dollar will erode its U.S. income. Westpac Banking Corp. paced a drop among lenders after Morgan Stanley and American International Group Inc. reported mortgage-related losses. PetroChina Co. and BHP Billiton Ltd. declined after crude oil slid from a record and copper fell.
``We'll start to see the U.S. slow,'' said Taku Yamamoto, who helps oversee $107 billion at the Pension Fund Association in Tokyo. ``People have been betting on emerging markets as a way of insulating their investments from the U.S. fallout, but don't forget that these markets are dependent on the U.S.''
The Morgan Stanley Capital International Asia-Pacific Index slumped 2.8 percent to 162.66 as of 6:48 p.m. in Tokyo, the most since Aug. 17. Shares declined in all markets open for trading.
pennystock-list.com
Toyota Motor Corp., which got 37 percent of its sales from North America in the last financial year, led exporters lower on concern a weaker dollar will erode its U.S. income. Westpac Banking Corp. paced a drop among lenders after Morgan Stanley and American International Group Inc. reported mortgage-related losses. PetroChina Co. and BHP Billiton Ltd. declined after crude oil slid from a record and copper fell.
``We'll start to see the U.S. slow,'' said Taku Yamamoto, who helps oversee $107 billion at the Pension Fund Association in Tokyo. ``People have been betting on emerging markets as a way of insulating their investments from the U.S. fallout, but don't forget that these markets are dependent on the U.S.''
The Morgan Stanley Capital International Asia-Pacific Index slumped 2.8 percent to 162.66 as of 6:48 p.m. in Tokyo, the most since Aug. 17. Shares declined in all markets open for trading.
pennystock-list.com
French Stocks Drop; Alstom, Vallourec, Dexia Pace the Declines
French stocks retreated after Morgan Stanley said the outlook for credit markets has worsened.
Alstom SA, Vallourec SA and Dexia SA fell.
The CAC 40 Index tumbled 85.16, or 1.5 percent, to 5,598.06 at 10:02 a.m. in Paris. The SBF 120 Index also sank 1.5 percent.
Alstom lost 4.9 percent to 154.26 euros even after the world's second-largest train maker said fiscal first-half profit jumped 49 percent.
``The market is locking in profits,'' said Clemence Bounaix, an analyst at Richelieu Finance in Paris, which oversees $5 billion. ``The company has a good dynamic but we think it's already priced in.''
Alstom shares are up 50 percent this year.
Vallourec, a maker of steel tubes to carry oil and gas, dropped 4 percent to 185.55 euros. Dexia, the world's biggest lender to local governments, slipped 2.4 percent to 18.37 euros.
Morgan Stanley became the latest U.S. securities firm to announce subprime market losses. The company said it lost $3.7 billion in the two months through Oct. 31, cutting its fourth- quarter earnings by $2.5 billion.
Colm Kelleher, Morgan Stanley's chief financial officer, said he now expects credit markets to take three to four quarters to recover instead of the one or two he predicted in September.
The following stocks rose or fell in Paris. Stock symbols are in parentheses.
European Aeronautic, Defence & Space Co. (EAD FP) climbed 1.37 euros, or 6.4 percent, to 22.85, the best performance on the CAC 40 today. The parent of Airbus SAS reported a nine-month loss of 705 million euros on the cost of delays to the A400M military transport plane. Analysts had predicted a loss of 1.15 billion euros.
pennystock-list.com
Alstom SA, Vallourec SA and Dexia SA fell.
The CAC 40 Index tumbled 85.16, or 1.5 percent, to 5,598.06 at 10:02 a.m. in Paris. The SBF 120 Index also sank 1.5 percent.
Alstom lost 4.9 percent to 154.26 euros even after the world's second-largest train maker said fiscal first-half profit jumped 49 percent.
``The market is locking in profits,'' said Clemence Bounaix, an analyst at Richelieu Finance in Paris, which oversees $5 billion. ``The company has a good dynamic but we think it's already priced in.''
Alstom shares are up 50 percent this year.
Vallourec, a maker of steel tubes to carry oil and gas, dropped 4 percent to 185.55 euros. Dexia, the world's biggest lender to local governments, slipped 2.4 percent to 18.37 euros.
Morgan Stanley became the latest U.S. securities firm to announce subprime market losses. The company said it lost $3.7 billion in the two months through Oct. 31, cutting its fourth- quarter earnings by $2.5 billion.
Colm Kelleher, Morgan Stanley's chief financial officer, said he now expects credit markets to take three to four quarters to recover instead of the one or two he predicted in September.
The following stocks rose or fell in Paris. Stock symbols are in parentheses.
European Aeronautic, Defence & Space Co. (EAD FP) climbed 1.37 euros, or 6.4 percent, to 22.85, the best performance on the CAC 40 today. The parent of Airbus SAS reported a nine-month loss of 705 million euros on the cost of delays to the A400M military transport plane. Analysts had predicted a loss of 1.15 billion euros.
pennystock-list.com
среда, 7 ноября 2007 г.
Australian Stocks Rise, Led by BHP, Newcrest on Oil, Metals
Australian stocks rose for a second day, led by BHP Billiton Ltd. and Woodside Petroleum Ltd., after prices of crude oil and metals increased.
``Strong spot commodity prices have certainly put momentum behind some of the resources stocks,'' said Jason Teh, who helps manage the equivalent of about $6.5 billion at Investors Mutual in Sydney. ``We're in the late stages of a bull market so everything's getting pulled along.''
The S&P/ASX 200 Index added 64.4, or 1 percent, to 6,6692.40 at the close in Sydney. The central bank's decision today to raise its key interest rate by a quarter-point to an 11-year high failed to derail the rally. Of the index's 201 stocks, 121 rose and 71 declined.
BHP, the world's largest mining company and Australia's biggest oil producer, jumped 71 cents, or 1.6 percent, to A$44.86. Rio Tinto Group, the third-biggest miner, added A$3.72, or 3.4 percent, to A$112.22.
A measure of six metals traded on the London Metal Exchange added 1.5 percent. Copper rose 1 percent, after declining for the past six days, nickel gained 2.3 percent and zinc added 3.4 percent, the most in seven weeks.
Newcrest Mining Ltd., Australia's largest gold-mining company, climbed A$2.06, or 6.3 percent, to A$34.86. Lihir Gold Ltd., a Papua New Guinea-based gold miner, jumped 21 cents, or 5 percent, to A$4.38.
Gold rose to its highest since 1980 in New York as record- high oil prices and a slumping U.S. dollar boosted the appeal of the precious metal as a hedge against inflation. Gold for December delivery rose 1.9 percent to $838.90 an ounce on the Comex division of the New York Mercantile Exchange.
pennystock-pics.com
``Strong spot commodity prices have certainly put momentum behind some of the resources stocks,'' said Jason Teh, who helps manage the equivalent of about $6.5 billion at Investors Mutual in Sydney. ``We're in the late stages of a bull market so everything's getting pulled along.''
The S&P/ASX 200 Index added 64.4, or 1 percent, to 6,6692.40 at the close in Sydney. The central bank's decision today to raise its key interest rate by a quarter-point to an 11-year high failed to derail the rally. Of the index's 201 stocks, 121 rose and 71 declined.
BHP, the world's largest mining company and Australia's biggest oil producer, jumped 71 cents, or 1.6 percent, to A$44.86. Rio Tinto Group, the third-biggest miner, added A$3.72, or 3.4 percent, to A$112.22.
A measure of six metals traded on the London Metal Exchange added 1.5 percent. Copper rose 1 percent, after declining for the past six days, nickel gained 2.3 percent and zinc added 3.4 percent, the most in seven weeks.
Newcrest Mining Ltd., Australia's largest gold-mining company, climbed A$2.06, or 6.3 percent, to A$34.86. Lihir Gold Ltd., a Papua New Guinea-based gold miner, jumped 21 cents, or 5 percent, to A$4.38.
Gold rose to its highest since 1980 in New York as record- high oil prices and a slumping U.S. dollar boosted the appeal of the precious metal as a hedge against inflation. Gold for December delivery rose 1.9 percent to $838.90 an ounce on the Comex division of the New York Mercantile Exchange.
pennystock-pics.com
Japan Stocks Fall; Nikkei 225 Slumps to 7-Week Low on Oil Price
Japanese stocks fell for a fourth day, sending the Nikkei 225 Stock Average to its lowest close in seven weeks. Tokyo Electric Power Co. dropped as the price of crude oil climbed to a record, increasing costs.
Canon Inc. reversed earlier gains after the yen strengthened against the dollar, reducing the value of overseas sales. Orix Corp., Japan's largest non-bank financial company, plunged after saying first-half profit from operations fell 27 percent.
``The gain by oil is working against companies that use it as an input,'' said Takashi Miyazaki, who helps oversee $61 billion at Mitsubishi UFJ Asset Management Co. in Tokyo. ``There's a short-term risk that the yen will strengthen. Investors are simply not very interested in Japan at the moment, and that makes it hard for stocks to climb.''
The Nikkei 225 slid 152.95, or 0.9 percent, to 16,096.68 at the close of trading in Tokyo, its lowest since Sept. 18. The Topix index fell 17.90, or 1.1 percent, to 1,556.69, extending a three-day 3.7 percent decline.
Companies such as Softbank Corp. and Yamada Denki Co. that reported better-than-estimated profit advanced.
Tokyo Electric, Asia's largest electricity producer, dropped 50 yen, or 1.7 percent, to 2,960. Consumption of crude and fuel oil will be more than double the average this year because of damage to a nuclear reactor caused by an earthquake, the company said last month. Daicel Chemical Industries Ltd., a maker of celluloid and chemicals used in cosmetics, tumbled 40 yen, or 5.3 percent, to 718.
pennystock-pics.com
Canon Inc. reversed earlier gains after the yen strengthened against the dollar, reducing the value of overseas sales. Orix Corp., Japan's largest non-bank financial company, plunged after saying first-half profit from operations fell 27 percent.
``The gain by oil is working against companies that use it as an input,'' said Takashi Miyazaki, who helps oversee $61 billion at Mitsubishi UFJ Asset Management Co. in Tokyo. ``There's a short-term risk that the yen will strengthen. Investors are simply not very interested in Japan at the moment, and that makes it hard for stocks to climb.''
The Nikkei 225 slid 152.95, or 0.9 percent, to 16,096.68 at the close of trading in Tokyo, its lowest since Sept. 18. The Topix index fell 17.90, or 1.1 percent, to 1,556.69, extending a three-day 3.7 percent decline.
Companies such as Softbank Corp. and Yamada Denki Co. that reported better-than-estimated profit advanced.
Tokyo Electric, Asia's largest electricity producer, dropped 50 yen, or 1.7 percent, to 2,960. Consumption of crude and fuel oil will be more than double the average this year because of damage to a nuclear reactor caused by an earthquake, the company said last month. Daicel Chemical Industries Ltd., a maker of celluloid and chemicals used in cosmetics, tumbled 40 yen, or 5.3 percent, to 718.
pennystock-pics.com
вторник, 6 ноября 2007 г.
German Stocks Gain, Led by Commerzbank, Deutsche Telekom, GPC
Germany's benchmark DAX Index rose for the first time in four days. Commerzbank AG, the country's second-biggest bank, jumped after reporting a 56 percent increase in third-quarter earnings.
Deutsche Telekom AG paced gains after Google Inc. said it will work with T-Mobile USA Inc., a unit of Deutsche Telekom, to develop new products. Aixtron AG gained after reporting earnings.
The DAX Index added 39.94, or 0.5 percent, to 7,847.49 as of 1:47 p.m. in Frankfurt. DAX futures expiring in December rose 49, or 0.6 percent, to 7,893. The HDAX Index of the country's 110 biggest companies gained 26.41, or 0.7 percent, to 4,030.01.
Commerzbank climbed 3.2 percent to 28.05 euros after saying third-quarter profit rose to 339 million euros ($493.1 million) from 217 million euros a year earlier.
The bank made larger-than-forecast writedowns of 291 million euros on investments linked to U.S. subprime mortgages.
``The key is finally getting clarity on the writedowns,'' said Andrea Williams, who helps oversee $63 billion at Royal London Asset Management, including Commerzbank shares. ``Commerzbank has far lower exposure than the big investment banks due to its business mix.''
Deutsche Telekom climbed 1.4 percent to 14.11 euros. Google plans to create an operating system called ``Android,'' working with an alliance of companies including T-Mobile's parent company, to develop software applications for mobile phones. The plans were announced after trading closed in Germany yesterday.
Aixtron rallied 6.3 percent to 8.77 euros. The semiconductor-equipment maker, whose shares have more than doubled this year, said third-quarter net income climbed to 3.36 million euros from 1.94 million euros a year earlier.
investpennystocks.com
Deutsche Telekom AG paced gains after Google Inc. said it will work with T-Mobile USA Inc., a unit of Deutsche Telekom, to develop new products. Aixtron AG gained after reporting earnings.
The DAX Index added 39.94, or 0.5 percent, to 7,847.49 as of 1:47 p.m. in Frankfurt. DAX futures expiring in December rose 49, or 0.6 percent, to 7,893. The HDAX Index of the country's 110 biggest companies gained 26.41, or 0.7 percent, to 4,030.01.
Commerzbank climbed 3.2 percent to 28.05 euros after saying third-quarter profit rose to 339 million euros ($493.1 million) from 217 million euros a year earlier.
The bank made larger-than-forecast writedowns of 291 million euros on investments linked to U.S. subprime mortgages.
``The key is finally getting clarity on the writedowns,'' said Andrea Williams, who helps oversee $63 billion at Royal London Asset Management, including Commerzbank shares. ``Commerzbank has far lower exposure than the big investment banks due to its business mix.''
Deutsche Telekom climbed 1.4 percent to 14.11 euros. Google plans to create an operating system called ``Android,'' working with an alliance of companies including T-Mobile's parent company, to develop software applications for mobile phones. The plans were announced after trading closed in Germany yesterday.
Aixtron rallied 6.3 percent to 8.77 euros. The semiconductor-equipment maker, whose shares have more than doubled this year, said third-quarter net income climbed to 3.36 million euros from 1.94 million euros a year earlier.
investpennystocks.com
U.K. Stocks Rally; BHP, Marks & Spencer, Cable & Wireless Gain
U.K. stocks rose for the first time in four days. BHP Billiton Ltd. paced a rally in mining companies as copper advanced and gold climbed to a record.
Marks & Spencer Plc increased after Britain's largest clothing retailer posted higher earnings. Tullow Oil Plc gained after Mol Nyrt. agreed to buy a stake in an oil field. Cable & Wireless Plc rose after Merrill Lynch & Co. upgraded the shares to ``buy.''
The FTSE 100 Index gained 27.1, or 0.4 percent, to 6,488.5 at 12:42 p.m. in London. The FTSE All-Share Index rose 0.4 percent to 3,338.6. Ireland's ISEQ Index slipped 0.3 percent to 7,436.33.
BHP, the world's largest mining company, added 3.4 percent to 1,758 pence. Rio Tinto Group, the third-biggest, gained 3 percent to 4,322 pence. Xstrata Plc, the world's fourth-largest copper producer, advanced 2.5 percent to 3,250 pence.
Copper rose for the first day this month in London on speculation increased purchases will start reversing five consecutive weeks of expanding inventories. Tin advanced to its highest since at least 1989.
Gold traded above $800 for a third consecutive trading session, reaching a 27-year high.
Marks & Spencer jumped 3.3 percent to 653 pence. First-half profit rose 40 percent to 393.2 million pounds ($820 million) on women's fashions, new food stores and a pension credit.
Chief Executive Officer Stuart Rose also announced plans to buy back 10 percent of the stock and accelerate store openings in Asia after quarterly sales rose at the slowest pace in two years.
investpennystocks.com
Marks & Spencer Plc increased after Britain's largest clothing retailer posted higher earnings. Tullow Oil Plc gained after Mol Nyrt. agreed to buy a stake in an oil field. Cable & Wireless Plc rose after Merrill Lynch & Co. upgraded the shares to ``buy.''
The FTSE 100 Index gained 27.1, or 0.4 percent, to 6,488.5 at 12:42 p.m. in London. The FTSE All-Share Index rose 0.4 percent to 3,338.6. Ireland's ISEQ Index slipped 0.3 percent to 7,436.33.
BHP, the world's largest mining company, added 3.4 percent to 1,758 pence. Rio Tinto Group, the third-biggest, gained 3 percent to 4,322 pence. Xstrata Plc, the world's fourth-largest copper producer, advanced 2.5 percent to 3,250 pence.
Copper rose for the first day this month in London on speculation increased purchases will start reversing five consecutive weeks of expanding inventories. Tin advanced to its highest since at least 1989.
Gold traded above $800 for a third consecutive trading session, reaching a 27-year high.
Marks & Spencer jumped 3.3 percent to 653 pence. First-half profit rose 40 percent to 393.2 million pounds ($820 million) on women's fashions, new food stores and a pension credit.
Chief Executive Officer Stuart Rose also announced plans to buy back 10 percent of the stock and accelerate store openings in Asia after quarterly sales rose at the slowest pace in two years.
investpennystocks.com
понедельник, 5 ноября 2007 г.
German Stocks Decline; Volkswagen, Banking Shares Lead Retreat
Germany's benchmark DAX Index fell for a third day, led by Volkswagen AG after Der Spiegel reported that Porsche AG may delay raising its stake. Deutsche Bank AG led banking stocks lower.
The DAX Index declined 58.44, or 0.7 percent, to 7,791.05 at 10:03 a.m. in Frankfurt. DAX futures expiring in December lost 44, or 0.6 percent, to 7,838. The HDAX Index of the country's 110 biggest companies decreased 0.7 percent.
Volkswagen dropped 4.18 euros, or 2.2 percent, to 186.91 euros. Porsche, the biggest shareholder in Europe's biggest carmaker, may delay raising its stake to more than 50 percent, Der Spiegel reported. While Porsche has options that would make a purchase cheaper, Chief Financial Officer Holger Haerter would rather wait for VW shares to decline and in addition make a profit from the options, Spiegel said.
Deutsche Bank, Germany's largest bank, lost 2.15 euros, or 2.5 percent, to 84.85 euros. Commerzbank AG, the country's second-largest, retreated 46 cents, or 1.7 percent, to 27.05 euros. Deutsche Postbank AG, Germany's biggest consumer bank by clients, dropped 1.25 euros, or 2.7 percent, to 45.90 euros.
Citigroup Inc. said it may have additional writedowns of as much as $11 billion on subprime-related investments. The company said yesterday Chief Executive Officer Charles Prince is stepping down after the largest U.S. bank warned of more writedowns on subprime mortgages and related securities, on top of more than $6 billion of charges reported for the third quarter.
``Citigroup has made quite clear that the subprime problems are not solved yet and investors are still worried about the extent to which it may affect the financial sector,'' said Oliver Opgen-Rhein, a trader at HSBC Trinkaus & Burkhardt AG in Dusseldorf. ``I believe that there is another bumpy week ahead of us.''
The following stocks also rose or fell in Germany. Stock symbols are in parentheses.
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The DAX Index declined 58.44, or 0.7 percent, to 7,791.05 at 10:03 a.m. in Frankfurt. DAX futures expiring in December lost 44, or 0.6 percent, to 7,838. The HDAX Index of the country's 110 biggest companies decreased 0.7 percent.
Volkswagen dropped 4.18 euros, or 2.2 percent, to 186.91 euros. Porsche, the biggest shareholder in Europe's biggest carmaker, may delay raising its stake to more than 50 percent, Der Spiegel reported. While Porsche has options that would make a purchase cheaper, Chief Financial Officer Holger Haerter would rather wait for VW shares to decline and in addition make a profit from the options, Spiegel said.
Deutsche Bank, Germany's largest bank, lost 2.15 euros, or 2.5 percent, to 84.85 euros. Commerzbank AG, the country's second-largest, retreated 46 cents, or 1.7 percent, to 27.05 euros. Deutsche Postbank AG, Germany's biggest consumer bank by clients, dropped 1.25 euros, or 2.7 percent, to 45.90 euros.
Citigroup Inc. said it may have additional writedowns of as much as $11 billion on subprime-related investments. The company said yesterday Chief Executive Officer Charles Prince is stepping down after the largest U.S. bank warned of more writedowns on subprime mortgages and related securities, on top of more than $6 billion of charges reported for the third quarter.
``Citigroup has made quite clear that the subprime problems are not solved yet and investors are still worried about the extent to which it may affect the financial sector,'' said Oliver Opgen-Rhein, a trader at HSBC Trinkaus & Burkhardt AG in Dusseldorf. ``I believe that there is another bumpy week ahead of us.''
The following stocks also rose or fell in Germany. Stock symbols are in parentheses.
all-penny-stocks.com
U.K. Stocks Retreat, Led by Sainsbury; Barclays, BHP Decline
U.K. stocks retreated for a third day, paced by J Sainsbury Plc. The shares dropped by a record after Qatar dropped its 10.5 billion-pound ($21.9 billion) bid for Britain's third-largest supermarket company.
Barclays Plc and HBOS Plc led bank stocks lower as HSBC Holdings Plc downgraded the shares, citing potential higher writedowns on debt securities and slower revenue growth. BHP Billiton Ltd. paced a retreat by mining companies as the price of copper declined to a seven-week low in London.
The FTSE 100 Index decreased 40.6, or 0.6 percent, to 6490 at 9:31 a.m. in London. The FTSE All-Share Index slipped 0.6 percent to 3342.29. Ireland's ISEQ Index fell 1.2 percent to 7527.21.
Sainsbury plunged by a record 17 percent to 459 pence after Delta (Two) Ltd., the investment fund backed by the Persian Gulf emirate, dropped its takeover offer for the company.
``You are seeing lending pulled from various takeover targets every day at the moment because people just can't get the kind of speculative lending or borrowing that they thought they were going to get and need,'' said Philip Manduca, who helps manage about $500 million at Titanium Capital Ltd. in London.
Qatar cited ``deterioration'' in the credit markets and said demands by Sainsbury's pension fund made the deal too expensive.
Tesco Plc, the biggest supermarket chain, fell 1.5 percent to 479.5 pence. William Morrison Supermarkets Plc declined 3.2 percent to 283 pence.
all-penny-stocks.com
Barclays Plc and HBOS Plc led bank stocks lower as HSBC Holdings Plc downgraded the shares, citing potential higher writedowns on debt securities and slower revenue growth. BHP Billiton Ltd. paced a retreat by mining companies as the price of copper declined to a seven-week low in London.
The FTSE 100 Index decreased 40.6, or 0.6 percent, to 6490 at 9:31 a.m. in London. The FTSE All-Share Index slipped 0.6 percent to 3342.29. Ireland's ISEQ Index fell 1.2 percent to 7527.21.
Sainsbury plunged by a record 17 percent to 459 pence after Delta (Two) Ltd., the investment fund backed by the Persian Gulf emirate, dropped its takeover offer for the company.
``You are seeing lending pulled from various takeover targets every day at the moment because people just can't get the kind of speculative lending or borrowing that they thought they were going to get and need,'' said Philip Manduca, who helps manage about $500 million at Titanium Capital Ltd. in London.
Qatar cited ``deterioration'' in the credit markets and said demands by Sainsbury's pension fund made the deal too expensive.
Tesco Plc, the biggest supermarket chain, fell 1.5 percent to 479.5 pence. William Morrison Supermarkets Plc declined 3.2 percent to 283 pence.
all-penny-stocks.com
суббота, 3 ноября 2007 г.
European Bank Earnings to Fall Further, Goldman Says
Europe's banking stocks, the worst- performing shares in the region this year, will fall further because the credit and housing markets are likely to keep deteriorating, Goldman, Sachs & Co. strategists said.
``While banks are starting to look attractive on various valuation metrics, this ignores the likelihood that earnings estimates will need to be revised down further,'' Peter Oppenheimer, head of pan-European strategy at Goldman Sachs, wrote in a report today. ``The downgrade cycle is likely to be deeper and longer-lived than anticipated.''
Oppenheimer's team advised investors to hold 17 percent of their equity funds in bank shares. That is less than the 18.5 percent for the industry group in the Dow Jones Stoxx 600 Index, a regional benchmark.
The top 10 investment banks together wrote down $30 billion of losses in the third quarter on holdings of subprime mortgages and leveraged loans. Analysts are cutting price targets on concern that losses from the U.S. housing market will deepen.
The Stoxx 600 Banks Index has dropped 12 percent so far this year, the biggest retreat among the 18 industries in the broader index.
Also today, Goldman Sachs analysts in New York downgraded a recommendation on the shares of large U.S. banks to ``neutral'' from ``attractive.'' They said banks with ``higher risk mortgage products'' are likely to underperform.
U.K. Stocks Retreat, Led by Barclays, RBS; BSkyB, BA Decline
U.K. stocks declined for a second day as Royal Bank of Scotland Group Plc and Barclays Plc sank on concern British banks' earnings will be hurt by the credit-market turmoil.
British Airways Plc fell as earnings increased less than analysts estimated. British Sky Broadcasting Group Plc dropped after saying profit fell by 28 percent.
The FTSE 100 Index slid 55.5, or 0.8 percent, to 6,530.6, making a loss of 2 percent for the week. The FTSE All-Share Index sank 0.8 percent to 3,361.53 today. Ireland's ISEQ Index dropped 1.7 percent to 7,615.54.
Royal Bank of Scotland, which last month agreed to buy ABN Amro Holding NV, retreated 4.7 percent to 475.5 pence, its lowest in more than four years.
``There is a clear path, we think, that leads from the current turmoil in credit markets to major trading losses of the U.K. banks with U.S. mortgage and global markets exposure,'' Panmure Gordon & Co. analyst Sandy Chen wrote in a note to clients today.
Barclays, the U.K.'s third-biggest bank, fell 6 percent to 537.5 pence, its lowest in two years, on speculation it approached the Bank of England for emergency funding.
``Barclays is rumored to have gone to the Bank of England for some funding,'' said Mamoun Tazi, an analyst at MF Global Securities Ltd. who has a ``neutral'' rating on the stock. ``My guess it that it's very unlikely, but never say never.''
пятница, 2 ноября 2007 г.
Japanese Stocks Fall on Citigroup, Merrill Subprime Concern
Japan's Topix index fell by the most in six weeks. Mitsubishi UFJ Financial Group Inc. led the decline on speculation Citigroup Inc. may be short of capital, renewing concern losses from U.S. subprime mortgages will reduce profits.
A measure of banks was the worst-performing group among the 33 industries in the index. Stocks extended their drop in the afternoon after the Wall Street Journal reported Merrill Lynch & Co. may have attempted to delay recognizing losses on mortgage- backed securities.
Honda Motor Co. led exporters lower after U.S. consumer spending rose less than forecast and manufacturing slowed more than estimated. In the U.S. the Standard & Poor's 500 Index slumped 2.6 percent yesterday, erasing about $369 billion of market value. Citigroup led declines by financial companies, plunging the most in five years.
``It's not just Citigroup, but a new sense that this subprime investment problem is going to linger with financial companies for a while,'' said Yoshinori Nagano, who helps oversee about $70 billion at Daiwa Asset Management Co. in Tokyo. ``There were expectations the U.S. would improve, but now those predictions are being pushed further into the future.''
The Nikkei 225 Stock Average slumped 352.92, or 2.1 percent, to 16,517.48 at the close in Tokyo. The broader Topix index dropped 35.61, or 2.2 percent, to 1,600.17, its biggest slide since Sept. 18. For the week, the Nikkei gained 0.1 percent, while the Topix jumped 1.7 percent.
Nikkei futures expiring in December lost 2.5 percent to 16,490 in Osaka and fell 2.3 percent to 16,520 in Singapore.
penny-stock-usa.com
A measure of banks was the worst-performing group among the 33 industries in the index. Stocks extended their drop in the afternoon after the Wall Street Journal reported Merrill Lynch & Co. may have attempted to delay recognizing losses on mortgage- backed securities.
Honda Motor Co. led exporters lower after U.S. consumer spending rose less than forecast and manufacturing slowed more than estimated. In the U.S. the Standard & Poor's 500 Index slumped 2.6 percent yesterday, erasing about $369 billion of market value. Citigroup led declines by financial companies, plunging the most in five years.
``It's not just Citigroup, but a new sense that this subprime investment problem is going to linger with financial companies for a while,'' said Yoshinori Nagano, who helps oversee about $70 billion at Daiwa Asset Management Co. in Tokyo. ``There were expectations the U.S. would improve, but now those predictions are being pushed further into the future.''
The Nikkei 225 Stock Average slumped 352.92, or 2.1 percent, to 16,517.48 at the close in Tokyo. The broader Topix index dropped 35.61, or 2.2 percent, to 1,600.17, its biggest slide since Sept. 18. For the week, the Nikkei gained 0.1 percent, while the Topix jumped 1.7 percent.
Nikkei futures expiring in December lost 2.5 percent to 16,490 in Osaka and fell 2.3 percent to 16,520 in Singapore.
penny-stock-usa.com
Asian Stocks Fall on Renewed Subprime Concern; Banks Lead Drop
Asian stocks fell the most in more than two months, led by Mitsubishi UFJ Financial Group Inc., on concern Citigroup Inc. may be short of capital, renewing speculation losses from U.S. subprime loans will reduce profits.
Mitsubishi UFJ, Japan's largest bank, posted its biggest drop in almost three weeks. Toyota Motor Corp. and Hon Hai Precision Industry Co. led exporters lower after U.S. consumer spending rose less than forecast.
``We're seeing real potential for the world's largest economy to slow significantly and that affects everyone,'' said Angus Gluskie, who helps manage the about $500 million at White Funds Management in Sydney. ``Earnings across the board are not going to be very good, particularly for financials.''
Telecom Corp., New Zealand's No. 1 phone company, declined on its lower profit forecast. Korea Exchange Bank dropped after missing analysts' earnings estimates.
The Morgan Stanley Capital International Asia-Pacific Index lost 2.3 percent to 168.33 as of 3:42 p.m. in Tokyo, set for its biggest drop since Aug. 17. The benchmark has risen 0.2 percent this week. The Nikkei 225 Stock Average declined 2.1 percent to 16,517.48. All markets open for trading retreated, except Indonesia, Pakistan and Sri Lanka. The Philippine stock exchange is closed for a holiday.
The Standard & Poor's 500 Index and Dow Jones Industrial Average slumped 2.6 percent yesterday, erasing about $369 billion of market value. Financial shares led declines.
penny-stock-usa.com
Mitsubishi UFJ, Japan's largest bank, posted its biggest drop in almost three weeks. Toyota Motor Corp. and Hon Hai Precision Industry Co. led exporters lower after U.S. consumer spending rose less than forecast.
``We're seeing real potential for the world's largest economy to slow significantly and that affects everyone,'' said Angus Gluskie, who helps manage the about $500 million at White Funds Management in Sydney. ``Earnings across the board are not going to be very good, particularly for financials.''
Telecom Corp., New Zealand's No. 1 phone company, declined on its lower profit forecast. Korea Exchange Bank dropped after missing analysts' earnings estimates.
The Morgan Stanley Capital International Asia-Pacific Index lost 2.3 percent to 168.33 as of 3:42 p.m. in Tokyo, set for its biggest drop since Aug. 17. The benchmark has risen 0.2 percent this week. The Nikkei 225 Stock Average declined 2.1 percent to 16,517.48. All markets open for trading retreated, except Indonesia, Pakistan and Sri Lanka. The Philippine stock exchange is closed for a holiday.
The Standard & Poor's 500 Index and Dow Jones Industrial Average slumped 2.6 percent yesterday, erasing about $369 billion of market value. Financial shares led declines.
penny-stock-usa.com
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