LONDON (Thomson Financial) - US SUMMARY: Stocks rise, oil plunges
Index Change Percent change
*DJIA 11446.66 +207.38 +1.85
*Nasdaq 2312.30 +27.45 +1.20
*S&P 500 1260.32 +14.96 +1.20
Nymex crude
for August $129.29 -$5.31
10 year U.S.
Treasury 4.01 percent
*Thursday's close
STOCKS: Wall Street shot higher Thursday, as tumbling energy prices
bolstered an already upbeat mood that followed stronger-than-expected quarterly
reports from big names like JPMorgan Chase and United Technologies.
BONDS: Treasury prices fell sharply Thursday as several upbeat earnings
reports, falling energy prices and an unexpected jump in housing starts
alleviated some of investors' concerns about the economy.
The yield on the benchmark 10-year Treasury note, which moves opposite its
price, jumped to 4.01 percent from 3.94 percent late Wednesday.
FOREX: The dollar was mixed against major currencies Thursday as U.S. data
on construction and jobless benefits delivered a mixed picture, and major
American banks reported better-than-expected earnings.
The 15-nation euro bought $1.5820 in late New York trading, up from $1.5810
late Wednesday in New York. The British pound was unchanged at $1.9992, while
the dollar jumped to 106.69 Japanese yen from 104.93 yen Wednesday.
OIL: Oil prices tumbled for the third day in a row, and slid below $130 a
barrel for the first time in more than a month. On Thursday, light, sweet crude
for August delivery dropped $5.31 to settle at $129.29 a barrel on the New York
Mercantile Exchange. Prices have fallen more than $15 in just the past three
days.
METALS: In precious metals, gold ended the day higher on heightened
inflation worries but prices later turned lower on oil's drop.
Gold for August delivery rose $8 to settle at $970.70 on the Nymex. In
aftermarket trading, prices were trading $4.90 lower at $957.80. Silver for
September delivery lost 7 cents to settle at $18.735 an ounce on the Nymex.
EVENTS:
June regional and state employment and unemployment (1400 GMT)
Citigroup Inc. Q2 results. LPS forecast $0.49 versus EPS $1.24 (before
market opens)
Honeywell International Inc. Q2 results. EPS forecast $0.94 versus $0.78
(before market opens)
ASIA SUMMARY: Stocks slightly lower, oil rises
Index Change Percent change
Nikkei 225 12844.41 -43.54 -0.34 (0418 GMT)
S&P/ASX 200 4847.70 -53.30 -1.09 (0426 GMT)
Straits Times 2841.81 -22.29 -0.78 (0418 GMT)
Seoul Composite 1514.32 -11.24 -0.74 (0438 GMT)
Hang Seng 21719.62 -15.10 -0.07 (0423 GMT)
BSE Sensex 13195.21 +83.36 +0.64 (0436 GMT)
10-year JGBs 1.575 percent -0.01 (Intra-day trade)
Brent North Sea crude $131.41 +34 cents (Intra-day trade)
for September
STOCKS: Asian stocks were slightly lower Friday after opening higher.
Earlier stocks edged up, helped by a 10 percent decline in oil prices this week
and results from investment bank JPMorgan, that were not as bad as expected,
though the outlook for earnings at other companies was less rosy.
BONDS: Japanese government bond prices were mixed on Friday after U.S.
Treasury bonds fell overnight, prompting some selling in early trade although
bargain-hunting in longer tenors provided some support.
At the midday break, the yield on the benchmark 10-year bond was down at
1.575 percent from 1.585 percent on Thursday.
FOREX: The dollar inched up on Friday after posting its biggest daily gain
against the yen in more than three months the day before, when U.S. stocks
rallied on a sharp drop in oil prices.
The U.S. currency remained on a shaky footing, however, given uncertainty
over the U.S. financial system and bleak growth prospects due to the slumping
housing market. The dollar inched up 0.1 percent to 106.42 yen.
OIL: Oil prices rose in Asia on Friday after three days of heavy falls that
pulled prices down almost $16 on worries over economic growth and slowing
demand. New York's main oil contract, light sweet crude for August delivery,
rose 51 cents to $129.80 a barrel.
EVENTS:
Bank of Japan releases minutes from monetary policy meeting on June 12/13
Malaysia's May manufacturing sales data
Australia's Oxiana Ltd. shareholders meet to vote on name change to OZ
Minerals
Hong Kong-listed Bosideng FY results
India's Satyam Computer Services Ltd.'s Q1 results
India's Cipla Q1 results
India's Jaiprakash Associates Q1 results
India's GE Shipping Q1 results
India's Ultratech Cements Q1 results
India's Wipro Ltd.'s Q1 results
EUROPE SUMMARY: Stocks higher, oil dips
Index Change Percent change
*FTSE 5286.30 +135.70 +2.63
*DAX 6271.27 +115.90 +1.88
*CAC 4225.99 +113.54 +2.76
pound-dollar 2.0053 +0.0032 +0.16 (Intra-day)
euro-dollar 1.5887 +0.0039 +0.25 (Intra-day)
Brent crude
(August) $135.60 -21 cents (Intra-day)
*Thursday's close
STOCKS: UK blue chips closed sharply higher with banks rebounding from
Wednesday's losses, and Wall Street gaining on better-than-expected earnings and
economics news.
German shares closed higher led by Infineon after Nokia released
second-quarter earnings that were largely in line with expectations, while
financial stocks staged a rally. Paris share prices ended higher as
bargain-hunters returned to oversold stocks, notably financials.
BONDS: European government bonds gave back some recent gains as risk
appetite recovered enough to lead to rises on key stock market indices. In the
UK, gilts were tracking their European counterparts lower, but continued to
outperform following Wednesday's disappointing unemployment news.
FOREX: The dollar was back where it started the day after a mixed bag of
U.S. data showing rising jobless claims alongside improvements in home starts
and a key snapshot of the manufacturing sector in the Philadelphia area.
As a whole the data could not detract from worries over the outlook for the
U.S. economy, which in turn kept the dollar on the back foot. The euro meanwhile
stayed well bid after comments from European Central Bank governing council
member Nout Wellink.
OIL: Oil prices fell further on Thursday after slumping by more than $10
over the past two days on concern that slowing U.S. economic growth would hurt
crude demand. London's Brent North Sea oil for September dipped 21 cents to
$135.60. The Brent August contract expired Wednesday down $2.56 at 136.19.
EVENTS:
UNITED KINGDOM
June public finances (0830 GMT)
June M4/M4 lending (0830 GMT)
BoE's Gieve speech (0805 GMT)
Cable & Wireless AGM
Invensys AGM
Farnborough Air Show
AUSTRIA
OMV Q2 trading statement
EASTERN EUROPE
Polish June industrial output (1200 GMT)
Polish June PPI (1200 GMT)
GERMANY
German June PPI (0600 GMT)
Heidelberger Druck AGM
SCANDINAVIA
TietoEnator Q2 results
Huhtamaki Q2 results
EUROPEAN UNION/EURO ZONE
Euro zone May foreign trade (0900 GMT)
EU rules on Stena Adactum buy of Ballingslov
EU rules on acquisition by Pernod Ricard of Vin & Spirit
TFN.newsdesk@thomson.com
npr
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|