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July 23, 2007
by Elaine Frei
Equities markets in the Asia-Pacific region were mixed on Monday. Gainers included Hong Kong’s Hang Seng index, which added 0.32 percent to 23,365.56. In Taiwan, the Taiex gained 0.37 percent to 9,621.57, while in India the Sensex was 1.07 percent higher to 15,732.2. In China, meanwhile, the Shanghai Composite closed at 4,213.36, a gain of 3.81 percent. The gains in Shanghai came ...
by Elaine Frei
The price of crude oil fell on Monday on profit-taking by hedge funds, while at least one analyst predicted that taking of profits could trigger a sharp decline in oil prices.
September contracts for Brent crude were $1 lower on the Intercontinental Exchange to trade at $76.64 per barrel, while West Texas Intermediate crude for September delivery had dropped $1.19 to $74.60 in early ...
by Elaine Frei
The yen was little changed against the euro, at ¥167.60, and versus the US dollar ¥121.35 after a day of volatile trading on news that the polls are not looking good for Japan’s ruling party in elections scheduled for this weekend.
Also in elections-related news, the Turkish lira added 1.8 percent versus the US dollar to TL1.2480 in the wake of elections ...
July 20, 2007
by Elaine Frei
In early afternoon trade, Wall Street also saw steep declines a day after the Dow Jones Industrial Average closed above the 14,000 level for the first time in history. The Dow was down 1.26 percent to 13,824.34, while the Naasdaq Composite fell 1.41 percent to 2,681.56 and the S&P 500 was 1.24 percent lower to 1,533.81. Banks, homebuilders, technology ...
by Elaine Frei
Prices for precious metals were higher in New York on Friday as the US dollar again lost ground to the euro.
August gold added $6.60 to $684.70 per troy ounce for a gain of 2.6 percent during the week, while September silver was 3 cents higher to $13.40 per troy ounce and October platinum gained $8.10 to trade at $1,346.60 per troy ounce.
Base ...
by Elaine Frei
Sterling added 0.5 percent higher versus the greenback just on Friday, to a new 26-year high of $2.0587, taking its gain on the week to 1.2 percent, while it gained 0.4 percent against the yen this week to ¥249.31 and was 0.7 percent higher to £0.6724 against the euro as UK inflation didn’t seem like it would peak in the near ...
by Elaine Frei
Prices on US Treasury bonds were higher on Friday as investors looked to government bonds for a safe place to put their money as they worried about problems in the subprime mortgage sector spreading to other sectors of the economy.
There were warnings from JP Morgan (NYSE: JPM; TYO:8634) and Fed chairman Ben Bernanke this week about the subprime mess, while Standard and Poor’s issued ...
July 19, 2007
by Elaine Frei
European equities markets were higher on the session Thursday, with the FTSE Eurofirst 300 rising 0.92 percent to 1,617.76. The IBEX added 0.99 percent to 15,207.3 in Madrid, while the Paris CAC-40 gained 1.16 percent to 6,065.5 and the Dax was 1.24 percent higher in Frankfurt to 7,991.21. Gainers on the day included the software sector, IT service providers, and chipmakers. ...
by Elaine Frei
Crude oil prices were higher in London and New York on Thursday.
At late afternoon in London, September contracts for Brent crude were 29 cents higher to $77.05 per barrel on the Intercontinental Exchange, while early afternoon trade on the New York Mercantile Exchange found West Texas Intermediate crude for August delivery 30 cents higher at $75.35 per barrel.
Futures prices for gasoline and ...
by Elaine Frei
The euro strengthened on the day Thursday, while sterling was weaker.
Gains for the shared currency came even though Germany has joined France in calling for more input from Eurozone governments on currency issues, now largely decided by the European Central Bank.
The euro added 0.1 percent to $1.3817 against the US dollar, and 0.3 percent each in relation to sterling and the yen, to ...
July 18, 2007
by Elaine Frei
The New York markets fell in early afternoon trade on a group of downgrades among brokers and on comments by Federal Reserve chairman Ben Bernanke in testimony before Congress. The Dow Jones Industrial Average was 0.72 percent lower to 13,871, while the Nasdaq Composite dropped 1.02 percent and the S&P 500 fell 0.65 percent to 1,539.34. The top five brokers ...
by Elaine Frei
Crude oil prices were higher on Wednesday after the latest US inventories figures from the Energy Information Administration showed that while crude oil inventories were not down as much last week as had been anticipated, gasoline stockpiles were down significantly when they had been expected to increase.
September contracts for Brent crude were $1.08 higher to $76.61 per barrel on the Intercontinental ...
by Elaine Frei
The yen was stronger Wednesday as the US dollar and the euro each dropped 0.1 percent versus the Japanese currency, to ¥122.02 and ¥168.23 respectively.
The greenback, meanwhile saw new lows against the euro and sterling early in the London session on Wednedsay, dropping to $1.388 against the euro, a 26-year low, while falling to $2.0548 in relation to sterling.
The euro dropped back slightly to ...
July 17, 2007
by Elaine Frei
New York equities markets were higher in midday trade on Tuesday after the Dow Jones Industrial Average rose above the 14,000 level for the first time, hitting 14,011.51 in morning trade before dropping back to 13,989.51, still a gain of 0.3 percent at mid-session. The Nasdaq Composite was 0.4 percent higher to 2,707.94, while the S&P 500 had added 0.2 percent to ...
by Elaine Frei
Prices for precious metals were down again on Tuesday.
In early afternoon trade in New York, August gold had dropped 40 cents to $665.90 per troy ounce, while
at the same time September silver dropped 5 cents to $13.02 per troy ounce.
Platinum fell $4.50 to $1,322.60 per troy ounce, while palladium was dropped $2.45 to $367.75 per troy ounce.
Most base metals prices were lower ...
by Elaine Frei
Sterling was 0.4 percent higher to $2.0450 versus the US dollar by midday in New York on Tuesday after having reached a new 26-year high of $2.0476 earlier in the session.
The pound was also 0.4 percent higher against the euro, to £0.6735, while it added 0.4 percent to SFr2.4587 in relation to the Swiss franc.
The gains came after new inflation figures in ...
by Elaine Frei
Prices were lower and yields higher on US Treasury bonds on Tuesday as subprime mortgage sector worries and a new report showing the housing sector still suffering worried investors.
The National Association of Home Builders said that its sentiment index was at a 16½ year low.
Inflation worries also weighed as the government reported that industrial output and core producer prices are both ...
July 16, 2007
by Elaine Frei
Equities markets in Europe saw gains on the continent but were lower in London on Monday. The FTSE Eurofirst 300 added 0.19 percent to 1,630.35. In Paris, the CAC-40 was 0.12 percent higher to 6,125.6, while the Dax gained 0.16 percent to 8,105.69 in Frankfurt and the IBEX was up 0.58 percent to 15,110.4 in Madrid. Banks were higher on ...
by Elaine Frei
The price of crude oil was lower on Monday as a refinery in Indiana and a pipeline from Texas to Illinois both returned to full operation, leaving the Kansas refinery closed by recent floods out of commission for the time being.
West Texas Intermediate crude for August delivery was down 13 cents to $73.80 per barrel in early afternoon trade on the New ...
by Elaine Frei
The New Zealand dollar gained in late morning trade in London on Monday on speculation that the Reserve Bank of New Zealand will raise interest rates next week after new data showed that inflation there was higher than expected.
The New Zealand currency added 0.8 percent to $0.7912 versus the US dollar and was up 0.5 percent to an otherwise rallying yen, to ¥96.25.
The greenback ...
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