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March 27, 2006
by Elaine Frei
China announced Sunday that it has raised prices for its domestic oil products to make up losses created by the difference in prices between crude oil and oil products. China’s refineries lost a reported Rmb30 billion last year, and the lack of enthusiasm on the part of refiners to supply the domestic market due to low prices led ...
by Elaine Frei
Silver was up again on Monday, equaling its April 27, 1987 level in London when it reached its peak during the day of $10.92 per troy ounce. This is considered to be the record price for the precious metal, even though some dealers say that it actually traded above $11 per troy ounce during April 1987. The metal backed ...
by Elaine Frei
The Japanese yen gained in value on Monday on new data showing that Japanese investors sold off foreign assets during the week ending March 17 at a rate six times higher than they had the previous week. This trend seemed to be continuing as the end of the fiscal year approaches. The sales of ¥1,480 in foreign ...
by Elaine Frei
The New York equities markets were mixed in mid-afternoon trading on Monday. While the telecommunications equipment sector helped the Nasdaq Composite add 0.2 percent to 2,316.74, both the Down Joines Industrial Average and the S&P 500 were down on the day. The Dow had lost 0.3 percent at mid-afternoon, to 11,248.67, while the S&P was down by 0.1 percent ...
by Elaine Frei
The Tokyo equities markets saw gains on Monday, with the Nikkei 225 up 0.5 percent to 16,650.10 and the Topix index 0.3 percent higher at the close to 1,693.84.
The real estate sector gained 1.1 percent as a whole, building on Friday’s gains after the release of a new survey on land prices in Japan. Mitsui Fudosan added 1 percent ...
March 24, 2006
by Elaine Frei
The sales of new homes in the United States was down 10 percent to 1.08 million in February, the fourth month in a row that sales have declined. Prices were down from last year as well, by 3 percent, and the supply of unsold new homes is higher than it has been in 10 years. At the ...
by Elaine Frei
In Europe on Friday, the FTSE Eurofirst 300 was up 0.5 percent to 1,383.19. The day’s gain helped the Eurofirst to add 1 percent on the week.
In the pharmaceuticals sector, Schering was up 4.6 percent on the week to €86.30 on an offer from Bayer that was higher than an earlier bid from Merck, which withdrew its bid on the ...
by Elaine Frei
The New York equities markets were mixed for the week, but new home sales data on Friday that raised hopes that interest rates might peak sooner than has been anticipated sent the indexes up on the day. The Dow Jones Industrial Average was up 0.3 for the day to 11,297.98, but only managed an 0.2 percent gain ...
by Elaine Frei
The London equities markets were up on the day Friday and on the week as a whole, largely on substantial gains in the properties sector. The FTSE 100 was up 0.7 percent on Friday and gained 0.6 percent for the week as a whole to close at 6,036.3, the second time this week that it closed above the 6,000 ...
by Elaine Frei
The US dollar saw gains this week even though new data on new home sales provided a bit of uncertainty on Friday. Much of the greenback’s recovery from losses last week came on comments from new US Federal Reserve Chairman Ben Bernanke’s comments that the economy is healthy, which translated in some people’s minds to an endorsement of the dollar ...
March 23, 2006
by Elaine Frei
Crude oil prices as well as gasoline and heating oil futures were up substantially on Thursday as Italian energy company ENI said that it could not honor some of its contracts due to attacks by militants on its facilities in Nigeria. In addition, ExxonMobil announced that it had shut down some units of its refinery in Baton Rouge, Louisiana, the ...
by Elaine Frei
The US dollar was higher on Thursday as new data on existing home sales added more evidence that the US housing market is still strong. It had been expected that the sale of existing homes would fall slightly in February, but sales actually were up 2.5 percent in the month. New unemployment filings were also down for the ...
by Elaine Frei
In Europe on Thursday, the FTSE Eurofirst 300 dropped 0.1 percent on the day to close at 1,376.57, down for the first time on over two weeks of trading sessions. On the other hand, Frankfurt’s Xetra Dax gained 0.3 percent to 5,947.11 several German companies saw advances on the day.
Utilities were down as merger talks remained ...
by Elaine Frei
London equities markets were lower on Thursday as the FTSE 100 slipped back below the 6,000 level, closing down 0.3 percent to 5,990.1. The FTSE 250 dropped 0.1 percent to 9,865.6. Volume amounted to 3.8 billion shares traded.
Miners were up on the day. Anglo American gained 3.1 percent to £20.78 after it announced that it will double ...
by Elaine Frei
Wall Street was down at mid-session on Thursday as profit-taking and renewed worries about higher interest rates took their toll after new data showed that existing home sales in the US were up 5.2 percent in February. Higher crude oil prices also hurt buyer sentiment.
By midday, the Dow Jones Industrial Average had dropped 0.4 percent to 11,272.93, the Nasdaq Composite ...
March 22, 2006
by Elaine Frei
Most major currencies were very nearly unchanged on the day Wednesday, leaving the Japanese yen as the only major currency to make substantial moves on the day. The yen advanced despite comments from the governor of the Bank of Japan which indicated that interest rates will not go up in the foreseeable future.
The yen was up 0.6 percent to ¥116.65 in ...
by Elaine Frei
Government bond yields were down in the United States and in Europe on Wednesday, while yields on Japanese government bonds were mixed on the day.
In the Eurozone, yields were up directly after hawkish comments from a member of the European Central Bank’s governing council, but later in the day yields on the ten-year Bund were down 1.9 basis points to 3.646 ...
by Elaine Frei
Silver reached yet another new price level on Wednesday on continued positive sentiment after the US Securities and Exchange Commission approved the first exchange traded fund backed by the metal. The new fund will trade on the American Stock Exchange. Silver prices peaked at $10.59 per troy ounce during the day, but later slid ...
by Elaine Frei
The Tokyo equities markets were down on Wednesday as investors took profits. The Nikkei 225 ended the day down by 0.8 percent to 16,495.48, while the Topix index was down 0.1 percent to 1,686.35.
The semiconductor sector was down on the day after Microsoft announced that it is putting off the release of its new Windows Vista operating system. ...
by Elaine Frei
In London on Wednesday, the FTSE 100 closed up 0.3 percent to 6,007.5, the first time it has closed above 6,000 in five years. Meanwhile, the FTSE 250 was 0.5 percent higher to close at 9,858.6. Continued bid rumors and gains in the property sector were instrumental in the day’s advances.
Shares in property companies were up an the news ...
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China announced Sunday that it has raised prices for its domestic oil products to make up losses created by the difference in prices between crude oil and oil products. China’s refineries lost a reported Rmb30 billion last year, and the lack of enthusiasm on the part of refiners to supply the domestic market due to low prices led ...
The sales of new homes in the United States was down 10 percent to 1.08 million in February, the fourth month in a row that sales have declined. Prices were down from last year as well, by 3 percent, and the supply of unsold new homes is higher than it has been in 10 years. At the ...
Crude oil prices as well as gasoline and heating oil futures were up substantially on Thursday as Italian energy company ENI said that it could not honor some of its contracts due to attacks by militants on its facilities in Nigeria. In addition, ExxonMobil announced that it had shut down some units of its refinery in Baton Rouge, Louisiana, the ...
