Posts filed under 'Global Markets'
Global banks going on a selling spree have hit the European markets today with almost all of them reporting down between 3 to 8%. The US markets opened flat and are trading mixed.
OPEC is holding the extraordinary meeting on October 24 instead of the initially scheduled mid-November.
Nokia reported a drop in its profit by 30% during the third quarter. Sales declined by 5%
Fuel Hedging has forced Southwest Air to post its first loss since 1991.
The worst performers of the day include ATX (down over 8%), OSE All Share (down over 7%), BEL-20 (down 6.%), CAC 40, AEX General, MIBTel (all down over 5%)
The US markets opened the day flat. Dow is marginally in the green while NASDAQ is up by about 1.2%. S&P 500 index is down marginally.
Sectors in the green include Technology, Services, Cons. Cyclical while those in the red include Financial, Cons Non-Cyclical and Basic Materials.
Merrill Lynch reports a loss of 4.4 billion pounds, a number that is considered worse than what analysts have expected.
1 U.S. dollar = 48.3792 Indian Rupees
1 U.S. dollar = 100.2606 Japanese Yens
1 U.S. dollar = 0.7466 Euros
1 Ounce Gold = $801.10
Thursday, October 16, 2008 9:55:57 PM IST
October 16th, 2008
The Asian stock markets, primarily lead by the Nikkei, tumbled today with deep recession fears haunting them. Meanwhile, the European markets opened weak with the British stock markets sliding with banks and commodities getting hit.
The Asian markets opened the day on a weak note and the weakness intensified. The Japanese Nikkei 225 that had a blockbuster session a couple of days ago had seen a knock today as the index lost over 1000 points in a single session today or 11.41%. Other major markets today are Seoul Composite (down over 9.44%), All Ordinaries and the Seoul Composite amongst others.
The Indian stock markets too had a worse session but the markets soon stood out and took a upward turn during the later part of the day. The Bombay Stock Exchanse is down 227.63 points or 2.11. The Realty, FMCG, Consumer Durables and Bankex stook out while the Oil & Gas, Capital Goods, IT, Auto, Power, PSU and Healthcare stocks are down.
The European stock markets are in the red too with the ATX down 4.6%. BEL-20 down 3.8%, Swiss Market down 1.6% and the FTSE 100 down over 2.3%
1 U.S. dollar = 48.4191 Indian Rupees
1 U.S. dollar = 100.4116 Japanese Yens
1 U.S. dollar = 0.7436 Euros
1 Ounce Gold = $835.00
Thursday, October 16, 2008 4:40:46 PM IST
October 16th, 2008
Recesion fears have made all Asian markets (except the Nikkei) into red. European markets too opened in the red with FTSE 100 and BEL-20 slipping 4%
The Indian Government stepped in and said that more money will be available with the banks to disperse. As much as Rs. 250 billion will be given to the bank for the farm waiver scheme announced. The Government is also increasing the cap of foreign investments in Indian corporate debt looking at the tight cash conditons. Meanwhile one of the leading Indian aviation company Jet Airways said it is laying off about 600 jobs obviously as a cost cutting measure.
France the British have called European nations to back them for ‘radical reforms’ for the global financial system worrying about a possible credit crisis like that of the Great Depression.
Meanwhile, the European stock markets are taking a hard hit this morning. The AEX General is down 5.1% followed by ATX, BEL-20, OSE All Share and FTSE 100 all down over 4% each. Almost all major European stock markets are trading in the red.
1 U.S. dollar = 48.1904 Indian Rupees
1 U.S. dollar = 100.8471 Japanese Yens
1 U.S. dollar = 0.7368 Euros
1 Ounce Gold = $836.70
October 15th, 2008
The US Stock markets closed in red with NASDAQ slipping 3.54%. S&P 500 is down 0.53% as feds begin to become partial owners of banks they are helping with the bailout. Meanwhile, the Asian markets are cooling after yesterday rallies.
Intel has beat market expectation by reporting a profit rise by 12%. The stock however closed down 6.24%. Domino’s Pizza, Inc. (down by 25.5%) and EnergySolutions, Inc. (down 44.38) are other top losing stocks.
Straits Times, Hang Seng and the Seoul Composite are down over 2.2%. The overall global financial picture however looks bleak as Asian stocks are falling on global recession fears. The South Korean Government has stepping to rescue its banks are its currency Won had a jump.
1 U.S. dollar = 47.6689 Indian Rupees
1 U.S. dollar = 101.8641 Japanese Yens
1 U.S. dollar = 0.7350 Euros
1 Ounce Gold = $840.80
October 15th, 2008
Good words from Governments from round the world have helped the stock markets to surge into the green territory with confidence. Nikkei hits its sharpest single day upward move.
All Asia Pacific markets except for the Shanghai Composite have closed the day in the green. Nikkei is up over 14%, the sharp uptrend being considered a record sort of in its history. Jakarta Composite and Seoul Composite are the other two block buster markets of the day from the Asia region. The National Stock Exchange of India had a great opening but had a roller coaster ride downwards only to close in the green by 0.80%. CNX IT stocks are up 4.62% today.
The European markets too continued their momentum for the second day. DAX closed up 217 points or 4.29% while CAC 40 is up 181.60 points or 5.14%
The US markets opened their in the green too. The NASDAQ though is down about a percentage point. The 10 year bond is at 4.0090% up by 0.1480. Energy, Finance and Health care sectors are upwards while Technology, Basic metals and Transportation looking downwards.
1 U.S. dollar = 47.7691 Indian Rupees
1 U.S. dollar = 102.5851 Japanese Yens
1 U.S. dollar = 0.7278 Euros
1 Ounce Gold = $832.40
October 14th, 2008
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