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March 31, 2009
by Elaine Frei
Crude oil prices were higher Tuesday after equities markets saw gains and ahead of Wednesday’s weekly US inventories report from the Energy Information Administration as oil stockpiles are expected to have grown but gasoline in storage anticipated to have declined.
May contracts for West Texas Intermediate crude were $1.25 higher to $49.66 per barrel at the close of floor trade ...
by Elaine Frei
With miners and banks higher, European equities markets saw gains Tuesday, making back part of Monday’s declines.
In London, the FTSE 100 added 4.34 percent to 3,926.14 while the FTSE 250 was up 2.4 percent to 6,373.89.
Banks were led higher by Lloyds Banking Group (LSE: LLOY) with a gain of 9.1 percent, while the only bank to decline was Barclays ...
by Elaine Frei
The Japanese yen was weaker Tuesday as equities markets recovered from Monday’s big declines and ahead of the Bank of Japan’s quarterly Tankan survey, which is expected to say that Japanese business confidence was significantly lower in the first quarter of 2009 than it was in the last quarter of 2008.
At just after 11 a.m. in New York, the yen traded at ...
March 30, 2009
by Elaine Frei
Worries about the global economy and comments from an OPEC member-nation oil minister that prices averaging $50 per barrel this year would be “OK” drove crude oil prices lower Monday.
The declines came ahead of separate reports on US oil inventories and joblessness in the United States, both due later in the week.
May contracts for West Texas Intermediate crude were down ...
by Elaine Frei
Global stock exchanges were substantially lower Monday as investors worried about more problems for banks and after US President Barack Obama said that General Motors (NYSE: GM) isn’t doing enough to help themselves to justify more help from the US government.
The FTSE 100 was 3.49 percent lower to 3,762.91 in London, while the FTSE 250 dropped 2 percent to 6,224.28.
Losers on ...
by Elaine Frei
The US dollar and the Japanese yen saw gains Monday as investors looked for safe places to put their cash as equities markets declined and on the possibility that US automaker General Motors (NYSE: GM) could face bankruptcy.
In remarks during the day, US President Barack Obama said that neither GM nor Chrysler have yet proposed reorganization plans sufficient to justify further ...
March 27, 2009
by Elaine Frei
Crude oil prices declined Friday, but they were still above $50 per barrel on the session.
May contracts for West Texas Intermediate crude were $1.99 lower to $52.35 per barrel around the close of floor trade on the New York Mercantile Exchange while Brent crude dropped $1.83 to $51.63 per barrel on the ICE Futures Europe exchange in London.
Nymex April gasoline futures ...
by Elaine Frei
The pound and the euro were weaker Friday as new data indicated that the recession is deepening in Europe.
Eurozone factory orders were reported by the European Union office of statistics to have dropped 3.4 percent in January from December, while orders were down 34 percent from January 2008.
Meanwhile, the pound was weaker on reports that the UK’s gross domestic product ...
March 26, 2009
by Elaine Frei
Crude oil prices were higher Thursday despite little reason for the gains in recent economic news.
The US Energy Information Administration reported Wednesday that crude oil stockpiles in the US were up again last week and today the EIA reported that natural gas stockpiles gained last week when they had been expected to decline.
Further, while there has been more optimism in recent ...
by Elaine Frei
European equities markets were mixed Thursday, as London markets, Frankfurt’s Dax and the IBEX in Madrid up while the Eurofirst 300 and the CAC-40 were slightly lower on the session.
In London, the FTSE 100 added 0.64 percent to 3,925.2 while the FTSE 250 gained 0.17 percent to 6,382.14.
Retailers were lower on a report that UK retail sales dropped 1.9 percent ...
by Elaine Frei
The Japanese yen weakened Thursday as investors sought out more risky trades for higher-yielding currencies as sentiment turned positive on hopes that the global economic crisis has reached bottom.
In addition, the yen was hurt by speculation that a report due Friday from Japan’s trade ministry will say that retail sales there were down again in February, for the sixth month in ...
March 25, 2009
by Elaine Frei
Crude oil prices were lower Wednesday after the US Energy Information Administration reported that oil inventories were up in the week ending 20 March.
The EIA said that crude oil stockpiles added 3.3 million barrels last week in the United States, while gasoline inventories dropped by 1.1 million barrels and distillates stockpiles were down by 1.6 million barrels over ...
by Elaine Frei
Most European equities markets were higher Wednesday, but London’s FTSE 100 and FTSE 250 both saw declines on the session.
The 100 was down 0.29 percent to 3,900.25 while the 250 dropped 0.51 percent to 6,371.11.
Engineering company Smiths Group (LSE: SMN) turned in the worst performance on the 100 as it dropped 14.36 percent, while Hochschild Mining dropped 9.78 percent on the 250 ...
by Elaine Frei
The US dollar weakened in relation to the euro and the yen Wednesday, but by midday in New York it had recovered some of its declines on comments from US Treasury Secretary Timothy Geithner.
The dollar faltered after Mr. Geithner said that the US would be open to enlarging special drawing rights of the International Monetary Fund, a development which would negatively affect the ...
March 24, 2009
by Elaine Frei
The price of crude oil in New York was lower for most of the session on a stronger dollar, but a late rally took prices slightly higher by the end of the floor trade session, mostly on optimism that the financial sector will be helped by new plans to help US banks.
May contracts for West Texas Intermediate crude traded 18 ...
by Elaine Frei
Most European equities markets saw gains on Tuesday, but London markets were mixed on the session.
The FTSE 250 added 0.19 percent to 6,403.55 but the FTSE 100 dropped 1.05 percent to 3,911.46.
The five biggest losers on the 100 came from the mining and banking sectors, with miner Antofagasta (LSE: ANTO) turning in the worst performance of the session with a decline of ...
by Elaine Frei
The Swiss franc strengthened Tuesday ahead of a speech by Swiss National Bank Governor Jean-Pierre Roth.
Some analysts expected Mr. Roth to use his remarks to attempt to intervene again to weaken the franc after the Bank took steps to pull the value of the currency down recently.
The Swiss currency traded at SFr1.5258 in relation to the euro in morning trade in ...
March 23, 2009
by Elaine Frei
Crude oil prices were higher Monday, pulled up by positive sentiment in the wake of good news on housing and another US initiative, this one announced by Treasury Secretary Timothy Geitner, to try to get the economy back on track.
May contracts for West Texas Intermediate crude added $1.73 to $53.80 per barrel on the New York Mercantile Exchange after going as ...
by Elaine Frei
European equities markets were higher Monday on gains in banks and other members of the financial sector after the United States detailed plans for a public/private effort, the Public-Private Investment Program, to buy up troubled assets from banks.
In London, the FTSE 100 added 2.86 percent to 3,952.81 while the FTSE 250 gained 1.89 percent to 6,391.21.
Real estate investment trust SEGRO (LSE: SGRO) ...
by Elaine Frei
The yen and the US dollar were weaker Monday as a new initiative by the US Treasury department to buy troubled assets, the Public-Private Investment Program, made it look as if there will be more willingness by investors to make risky investments.
The public part of the plan will be financed with money from the Troubled Asset Relief Program (TARP).
Meanwhile, the euro ...
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