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June 26, 2006
by Elaine Frei
Trade volumes remained low in the London equities markets on Monday, with a mere 2.5 billion shares trading hands. The FTSE 100 closed down 0.2 percent to 5,681.2, while the FTSE 250 added 0.02 percent to 9,197.1.
The mining sector was mixed. Anglo American was up 1.4 percent to £21.38 and Xstrata added 0.9 percent to £19.55 ...
by Elaine Frei
European equities markets were lower on Monday on fears that interest rates in the region could go up more than previously expected. The FTSE Eurofirst 300 dropped 0.3 percent to 1,278.91.
The banking sector was mixed on the day. Credit Agricole said that it would not raise its bid for Greek bank Emporiki even though the Bank of Cyprus ...
by Elaine Frei
The Tokyo equities markets were a bit higher on Monday as good performance in the real estate sector outweighed fears in the consumer finance sector that new, more stringent rules may be imposed on such lenders. The Nikkei 225 and the Topix index each added 0.2 percent to 15,152.40 and 1,548.97 respectively. The only exception was the Mothers index of ...
by Elaine Frei
Most precious metals prices were mixed on Monday, while base metals saw prices increase during the day.
Gold dropped 0.7 percent to $579.15 per troy ounce as prices remained caught up in concerns over economic growth and rising inflation. Silver prices also declined, dropping 1.8 percent to $10.11 per troy ounce. On the other hand, the price ...
by Elaine Frei
The euro strengthened on Monday amid comments from European Central Bank officials that seem to indicate that interest rates could be hiked again sooner than expected and by more than most analysts have forecast. Also helping the shared currency higher was a rumor that Abu Dahbi could convert up to 10 percent of its currency reserves into euros.
By the ...
June 23, 2006
by Elaine Frei
The prospect of higher interest rates in the United States sent the Tokyo equities markets lower on Friday, but declines were limited by gains in the real estate sector. The Nikkei 225 dropped 0.1 percent to 15,124.04, while the Topix index declined by 0.2 percent to 1,545.57.
Export-focused sectors were affected by concerns about the US economy, with the ...
by Elaine Frei
Wall Street was lower at midday on Friday and looked to be on track to end the week in the red as investors worried about what the Federal Reserve’s Open Market Committee will do about interest rates when they meet next week. Also affecting market activity were reports that both the Index of Leading Economic Indicators and ...
by Elaine Frei
In London on Friday, trade in equities was slow again with only 2.1 billion shares changing hands during the session. The activity left the markets higher for the day, but only just, with the FTSE 100 adding 0.1 percent to 5,692.1 and the FTSE 250 up 0.03 percent, just 2.4 points, to close at 9,195.3. Both the 100 and ...
by Elaine Frei
Crude oil prices rose Friday on concerns about supply during the summer driving season, on a possible strike by oilfield service workers in Norway, and on news that a new tropical storm could be building in the Atlantic Ocean. The weather concerns came although there was little chance that the storm would strengthen into a hurricane and ...
by Elaine Frei
Yields on government bonds were up this week in the United States, the Eurozone, and in Japan. Investors’ main concerns revolved around the issue of interest rates.
In the United States, rumors began to circulate that the Federal Reserve will raise interest rates by 50 basis points rather than by the usual 25 basis points when it meets next ...
June 22, 2006
by Elaine Frei
The Tokyo equities markets were significantly higher on Thursday after new data showed that exports were up substantially in May. The Nikkei 225 added 3.4 percent to 15,135.69, while the Topix index was up 2.9 percent to 1,549.12. The gains came even though some are calling for the resignation of the governor of the Bank of Japan after he ...
by Elaine Frei
Midday on Thursday found the New York equities markets lower after new data showed the Index of Leading Economic Indicators down by 0.6 percent in May. The new figures were yet another sign that the US economy is growing at a slower pace. The possibility of new interest rate hikes also held investors back, with some ...
by Elaine Frei
In London on Thursday equities markets were up as the FTSE 100 closed at 5,684.1, a gain of 0.3 percent, while the FTSE 250 added 1.1 percent to 9,192.8. Trade volumes are still lower than average, with 2.85 billion shares traded during the day. So far this week, the 100 has risen 1.5 percent and the 250 ...
by Elaine Frei
Analysts were at a loss on Thursday to figure out exactly why the US dollar rallied. While some said that the greenback was benefiting from the unwinding of carry trades by US-based hedge funds and others cited greater interest rate differentials, others discounted these explanations. Still others simply termed the rally an “aberration”.
The US currency was up ...
by Elaine Frei
Turkey will discontinue a 15 percent withholding tax that was imposed on foreign investors in January. The change in policy brings the nation in line with European Union provisions on domicile and residence rules for the taxation of individuals, according to Turkey’s finance minister. The rule changes come at a time when the Istanbul equities market ...
June 21, 2006
by Elaine Frei
Wall Street was higher at mid-session on Wednesday, with the Dow Jones Industrial Average up 1.2 percent to 11,102.19. The Nasdaq composite had added 1.7 percent to 2,141.75, while the S&P 500 gained 1.1 percent to 1,253.63. The number of shares traded stayed fairly low, which is a problem according to some analysts, who would like to see more ...
by Elaine Frei
London equities markets were mixed on Wednesday as the FTSE 100 added 0.12 percent late in the day to close at 5,665, but the FTSE 250 lost 0.3 percent to 9,093.1. Once again, volumes were low with only 2.5 billion shares changing hands.
Eighteen percent of all the shares traded on the day were from Vodafone, which ended the day up ...
by Elaine Frei
The FTSE Eurofirst 300 was up on Wednesday, but by only 0.3 points to 1,276.47 after being in negative territory for most of the session.
The banking sector was mixed. Deutsche Bank added 0.6 percent to €84.61 when it said that it had prevailed in a bidding war for Berliner Bank and will buy it for €681 billion. The Bank of ...
by Elaine Frei
The president of Venezuela has ordered that nation’s legislature and central bank to introduce new currency, to be named the “nuevo bolivar”, which would take three zeroes off the exchange value. Legislators say that this “monetary reform” is aimed at reducing inflation and making accounting easier. The bolivar currently trades at a fixed rate of 2,150 to the ...
by Elaine Frei
Officials of the US Federal Reserve have stopped making public comments, a customary practice ahead of rate-setting meetings, leaving government bond purchasers without much data on which to base decisions as data from other sources is also lacking at present. With summer beginning, a time of traditionally limited trade, volumes were low in the US Treasury market.
At mid-session in ...
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Trade volumes remained low in the London equities markets on Monday, with a mere 2.5 billion shares trading hands. The FTSE 100 closed down 0.2 percent to 5,681.2, while the FTSE 250 added 0.02 percent to 9,197.1.
The mining sector was mixed. Anglo American was up 1.4 percent to £21.38 and Xstrata added 0.9 percent to £19.55 ...
