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April 26, 2005
by Brian Turner
Crude oil futures fell Tuesday in anticipation of a report due Wednesday that most analysts expect to say that U.S. crude oil inventories have increased.
Prices were also affected by comments from OPEC officials that implied that the oil market was oversupplied just a day after Saudi Arabia told the United States that it would increase its output of crude oil ...
by Brian Turner
An announcement from Indonesia’s central bank Tuesday indicated that it would raise interest rates in order to shore up the rupiah, which hit a three-year low earlier in the week.
It did not say when this raise in rates would come, but it would come next week on Wednesday with the next auction of the Sertifikat Bank of ...
by Brian Turner
Consumer prices in Japan fell for the seventh year in a row in the fiscal year ending in March 2005. This meant that the Japanese economy remained in deflation despite three years of intermittent growth.
The consumer price index (CPI) fell only 0.2 percent in the most recent year, much less than the 0.8 percent fall of the previous two ...
by Brian Turner
The New York Mercantile Exchange (Nymex) has recently agreed with the Budapest Stock Exchange and the Budapest Commodity Exchange to develop the first crude oil futures contract to be traded in Hungary.
This will be based on oil from the Russian Urals and carries out a plan originally announced in 1996 to develop an energy futures exchange in ...
by Brian Turner
On the heels of an announcement that Air Canada had placed a $6 billion order with Boeing, the U.S. aircraft manufacturer said Tuesday that Air India had ordered up to 50 medium- and long-range aircraft from the Chicago-based company.
The Air India order includes eight 777-200LRs, fifteen 777-300ERs, and twenty-seven 787s, and is worth nearly $7 billion.
It is seen as ...
April 25, 2005
by Brian Turner
U.S. aircraft manufacturer Boeing pulled off a significant victory over its European rival Airbus when it scored an order for 32 wide-body planes, including 14 787s, from Air Canada.
This is a turnaround for the Canadian airline, which had previously replaced its whole Boeing fleet with Airbuses and Bombadier CRJ regional jets.
Air Canada’s chief executive said Monday that the ...
by Brian Turner
The Tokyo markets were up slightly on Monday, with the Nikkei 225 up 0.3 percent to 11,073.77 and the Topix advancing by 0.1 percent to 1,132.17.
These advances were spurred by anticipation of the release of several domestic quarterly earnings reports and signs that tensions with China were lessening even though a weekend meeting between leaders of Japan and China ...
by Brian Turner
At midday on Monday the European markets were up despite worries about weak growth in Germany and concerns over higher oil prices.
The FTSE Eurofirst 300 was up 0.3 percent to 1,076.08. In Frankfurt, the Xetra Dax had risen 0.5 percent to 4,245.76, and in Paris the CAC-40 was up 0.3 percent to 3,993.44.
Crude oil futures were ...
by Brian Turner
In London Monday, midday trading was fitful, with low volume and little advance.
Only 1.1 bn shares had been traded and the FTSE 100 had risen only 9 points to 4,858.9. The FTSE 250 was up 5 points to 7,017.9.
Oil and gas stocks were higher as oil prices rose and on news that Edinburgh Oil Gas had been approached ...
by Brian Turner
Oil prices hit $56 per barrel on Monday before easing back slightly. Nymex WTI advanced 23 cents to $55.62 a barrel for June deliveries by midmorning in London. Brent rose 32 cents to $55.29, but at one point it had risen to $55.70.
One factor for the rise in prices is concern that supply will be tight in ...
April 22, 2005
by Brian Turner
The shift from traditional to digital photography along with high restructuring costs have handed Eastman Kodak a loss in sales that led to a report of first-quarter losses.
The company reported a net loss of $142 million in the first quarter compared to earnings of $21 million in the same quarter last year.
Absent exceptional costs of $152 million, ...
by Brian Turner
Costco Wholesale Corp., the largest U.S. warehouse club operator, said Friday that weak profits from gasoline sales would mean that earnings for the rest of the fiscal year would probably fall short of Wall Street expectations.
This report caused shares in the company to fall 9 percent Friday. Costco said it expects current quarter earnings to be around 41 ...
by Brian Turner
U.S. pressure on China to revalue its currency stepped up on Thursday as Alan Greenspan, the chairman of the U.S. Federal Reserve, said that China will have to act on revaluation “sooner rather than later” in the interest of stability.
U.S. treasury secretary John Snow, who pushed the issue last weekend at the meeting of the G7 nations, supported Greenspan’s ...
by Brian Turner
London markets had moved higher at the end of the morning on Friday after an overnight rally on Wall Street and in the wake of optimistic investor sentiment after several recent positive first quarter earnings reports.
The FTSE 100 was up 0.4 percent to 4,840.6 and the FTSE 250 rose 0.5 percent to 7,005.9.
Shire Pharmaceuticals was the ...
by Brian Turner
The European markets were up at midday Friday.: the FTSE Eurofirst 300 was up 0.6 percent to 1,070.04, while Frankfurt’s Xetra Dax was up 0.6 percent to 4,217,27 and the CAC-40 rose 0.5 percent to 3,970.54.
A good first-quarter report from Ericsson helped the technology sector advance. Ericsson’s shares were up 4.3 percent on the report that rose ...
April 21, 2005
by Brian Turner
The Asian markets started the day sharply down Thursday, but with the exception of Tokyo, they generally managed to finish higher by the end of the trading day.
In Tokyo, the Nikkei 225 ended down by 0.9 percent at 10,984.39. It had been down to 10,770.58 earlier in the day, its lowest since mid-December. The Topix closed 0.7 percent ...
by Brian Turner
The sterling fell 0.4 percent against the dollar from its overnight close to $1.9120. It also fell 0.4 percent against the euro to 0.6845.
This decline in the sterling came after an unexpected dip in March retail sales in the UK.
Instead of the expected 0.4 percent rise in sales, the March numbers showed a 0.1 percent decline. ...
by Brian Turner
Oil prices were down on Thursday despite an unexpected drop in U.S. inventories of both crude oil and gasoline.
This was the first drop in crude oil prices in three sessions.
The U.S. energy department reported on Wednesday that oil stockpiles had fallen by 1.8 million barrels, an unexpected fall after ten weeks of increasing supplies. ...
by Brian Turner
In the European markets on Thursday afternoon, the FTSE Eurofirst 300 rose 0.3 percent to 1,067.76. Xetra Dax was up 0.6 percent to 4,203.29 in Frankfurt, and in Paris the CAC-40 was up 0.5 percent, to 3,967.91.
Nokia was up 5.8 percent on a positive first quarter earnings report, well above expectations.
Other telecommunications companies were up even before ...
by Brian Turner
The London markets were mixed at the end of the morning Thursday. The FTSE 100 was up 0.1 percent to 4,826.7 but the FTSE 350 fell 0.1 percent to 6,971.8.
The biggest gain on the FTSE 100 was achieved by Allied Domecq, up 3.6 percent to 666p after its board recommended in favor of a takeover by a consortium that includes ...
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Crude oil futures fell Tuesday in anticipation of a report due Wednesday that most analysts expect to say that U.S. crude oil inventories have increased.
Prices were also affected by comments from OPEC officials that implied that the oil market was oversupplied just a day after Saudi Arabia told the United States that it would increase its output of crude oil ...
U.S. aircraft manufacturer Boeing pulled off a significant victory over its European rival Airbus when it scored an order for 32 wide-body planes, including 14 787s, from Air Canada.
This is a turnaround for the Canadian airline, which had previously replaced its whole Boeing fleet with Airbuses and Bombadier CRJ regional jets.
Air Canada’s chief executive said Monday that the ...
The shift from traditional to digital photography along with high restructuring costs have handed Eastman Kodak a loss in sales that led to a report of first-quarter losses.
The company reported a net loss of $142 million in the first quarter compared to earnings of $21 million in the same quarter last year.
Absent exceptional costs of $152 million, ...
The Asian markets started the day sharply down Thursday, but with the exception of Tokyo, they generally managed to finish higher by the end of the trading day.
In Tokyo, the Nikkei 225 ended down by 0.9 percent at 10,984.39. It had been down to 10,770.58 earlier in the day, its lowest since mid-December. The Topix closed 0.7 percent ...
