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June 22, 2005
by Brian Turner
In Tokyo on Wednesday, the equities markets ended up on a positive note as the Nikkei 225 closed up 0.5 percent to 11,547.28 while the Topix finished 0.4 percent to 1,173.25.
The steel sector was down, with Nippon Steel, the second-largest steel producer in the world, losing 1.5 percent to ¥258 after issuing a lowered earnings forecast.
Tokyo Steel Manufacturing lost ...
by Brian Turner
At a time when most commodities are at or near record high prices, the worldwide steel sector is beset by profit warnings and falling prices.
The American Iron and Steel Institute has released data showing that declining demand resulted in a drop in United States steel shipments of 7.6 percent from March to April.
On Monday Nucor, the biggest ...
by Brian Turner
Analysts are unsure if Japan’s domestic market is strong enough to support continuing economic growth in light of data released on Wednesday that shows export volumes are down 2.5 percent in May, the fourth decline in five months.
The preliminary figures from the Ministry of Finance showed that export volumes to Asia fell 4.7 percent, but that they were up 1.9 ...
June 21, 2005
by Brian Turner
As attendance at movie theaters in the United States is at its lowest in a decade, AMC Entertainment and Loews Cineplex Entertainment have agreed to a merger that will create the second-biggest theatre chain in the US.
The two companies were already in talks in 2004 before each was purchased by separate groups of private ...
by Brian Turner
Copper fell $2 per tonne after reaching an all-time high on Monday although worries about low inventories continue.
The price of gold fell to $437.40/$438.10 per troy ounce on profit-taking after it hit a 3-month high on Monday.
Platinum prices also fell, down to $879/$883 per troy ounce after rising to a 14-month high of $900 on Monday.
by Brian Turner
At least one analyst called Tuesday’s activity on New York equities markets "boring" as little movement occurred at all and volume was only 1.3 billion shares on the New York Stock Exchange.
What movement there was went mostly lower as crude oil prices remained high and a major steel maker issued a warning on profits.
Steelmaker Nucor warned that ...
by Brian Turner
South Korea’s Hyundai Motor signed a preliminary agreement on Tuesday with China’s Guangzhou Motor Group to form a joint venture to make commercial vehicles.
Hyundai’s new partner already makes vehicles in China with Honda and Toyota.
The project is worth $1.24 billion and is intended to meet what Hyundai said is an “explosive” demand for commercial vehicles in China, especially in ...
by Brian Turner
The euro remained very sensitive on Tuesday to talk that the European Central Bank might cut interest rates soon.
Speculation that this might be so was only increased by today’s move by Riksbank in Sweden to cut interest rates there. ECB officials, however, continue to insist that the current rate of 2 percent is “appropriate” and that no moves ...
by Brian Turner
A move by Sweden’s Riksbank to cut interest rates Tuesday sent eurozone and UK government bond yields tumbling and revived talk that eurozone interest rates might also be lowered soon.
Riksbank cut interest rates by half a percentage point to 1.5 percent. A cut had been expected, but only by a quarter of a point.
At the ...
by Brian Turner
West Texas Intermediate crude oil prices on the New York Mercantile Exchange fell 17 cents to $59.20 per barrel for July deliveries in early afternoon trading on Tuesday, while August WTI contracts fell 43 cents to $59.45 per barrel and contracts for delivery in September through April were trading around the $60 per barrel level.
In late day London trading, ...
June 20, 2005
by Brian Turner
The European Commission is expected to announce plans this week for changes in how cars are taxed in the European Union.
The plans include eliminating car registration taxes as well as incentives to make cars more environmentally sound by linking taxes to carbon dioxide emissions.
Another aim of the change is to avoid taxing car owners who move from ...
by Brian Turner
The price of UK gilts fell and yields were up at mid-day in London on Monday as investors gave up hope that interest rates would go down this year.
This sentiment came on the news that government borrowing was up to record levels.
It had been expected that borrowing would be £7.0 in May, but the actual figure ...
by Brian Turner
The European equities markets were lower on Monday with the continuing rise in crude oil prices.
The FTSE Eurofirst 300 fell 0.05 percent to 1139.13, with advances in the oil sector offset by some profit-taking in other sectors.
Companies benefiting from the rise in oil prices included BP, with a gain of 0.7 percent to 490.5p and Royal ...
by Brian Turner
The euro lost value against the US dollar, the yen, and sterling on Monday after a European Union summit that could not agree on a budget.
It was additionally affected on continuing rumors that the European Central Bank is thinking about cutting interest rates in the eurozone.
However, analysts say that the fact that the euro continues to decline is ...
by Brian Turner
The price of crude oil rose again on Monday amid continuing concerns about supply and the lack of refining capacity at refineries worldwide.
The fact that OPEC increased production quotas by 500,000 barrels per day when its members met last week seemed to have no influence on prices.
The OPEC president said that if prices keep rising through ...
by Brian Turner
The Republican chairman of the aviation subcommittee of the US House of Representatives, John Mica, has introduced a bill which would, if passed and signed by President George W. Bush, require aircraft carrying more than 800 passengers to install the technology to combat Stinger missiles and similar weapons.
That would mean that European aircraft manufacturer Airbus would have to put such technology ...
June 17, 2005
by Brian Turner
The Japanese equities markets hit their highest levels since mid-April on Friday, with the Nikkei 225 advancing by 0.9 percent to 11,514.03 and the Topix index rising 1 percent to 1,172.33.
The mining sector and the oil and coal sectors were up due to high commodities prices, and trading houses which are involved in commodities trading also saw large gains. ...
by Brian Turner
China’s State Council will soon decide on how to institute a plan to put together a multi-billion dollar fund for the purpose of purchasing equities.
A senior Chinese official said Friday that the fund, resembling a plan that Hong Kong used to rescue its stock market during the 1998 Asian financial crisis, would not be to bail out the market but ...
by Brian Turner
The private club that hosts the annual tennis tournament at Wimbledon are being told that they must allow the tournament to be commercialized to a greater extent than it is now to increase the amount of money generated by the tournament.
The All England Lawn Tennis and Croquet Club allows agreements with 14 official suppliers, and the ...
by Brian Turner
The US dollar had a rough week as negative data finally stopped its rally, helping the euro to make some gains after having fallen 6.7 percent in relation to the dollar since early May.
The euro gained 1.1 percent this week to $1.2239 in relation to the US dollar, gaining most on Friday after comments from European banking and finance officials ...
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In Tokyo on Wednesday, the equities markets ended up on a positive note as the Nikkei 225 closed up 0.5 percent to 11,547.28 while the Topix finished 0.4 percent to 1,173.25.
The steel sector was down, with Nippon Steel, the second-largest steel producer in the world, losing 1.5 percent to ¥258 after issuing a lowered earnings forecast.
Tokyo Steel Manufacturing lost ...
As attendance at movie theaters in the United States is at its lowest in a decade, AMC Entertainment and Loews Cineplex Entertainment have agreed to a merger that will create the second-biggest theatre chain in the US.
The two companies were already in talks in 2004 before each was purchased by separate groups of private ...
The European Commission is expected to announce plans this week for changes in how cars are taxed in the European Union.
The plans include eliminating car registration taxes as well as incentives to make cars more environmentally sound by linking taxes to carbon dioxide emissions.
Another aim of the change is to avoid taxing car owners who move from ...
The Japanese equities markets hit their highest levels since mid-April on Friday, with the Nikkei 225 advancing by 0.9 percent to 11,514.03 and the Topix index rising 1 percent to 1,172.33.
The mining sector and the oil and coal sectors were up due to high commodities prices, and trading houses which are involved in commodities trading also saw large gains. ...
