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April 20, 2009
by Elaine Frei
Crude oil prices were substantially lower Monday as the US dollar strengthened and equities markets saw losses on concerns that banks will lose more money to bad loans.
In addition, the International Energy Agency predicted that demand for oil will not recover until next year and BNP Paribas (Euronext: BNP; TYO: 8665) forecast that prices for a barrel of crude oil ...
by Elaine Frei
European equities markets were substantially lower Monday after banks declined on a report from US bank Bank of America (NYSE: BAC), which said that quarterly profit was up as a result of its acquisition of Merrill Lynch, but that it also had a large increase in its number of troubled loans.
The FTSE 100 dropped 2.49 percent to 3,9990.86 in London, while the ...
by Elaine Frei
The pound weakened Monday on a Confederation of British Industry forecast that the UK economy will shrink by 3.9 percent this year and after a report from Rightmove (LSE: RMV) showed UK house prices 7.3 percent lower in the past year, although prices rebounded by 1.8 percent in April from March.
The pound traded at 89.91p to the euro in late morning trade ...
April 17, 2009
by Elaine Frei
Crude oil prices saw gains Friday as investors continued to bet that demand will rebound to use up the most stockpiles in US inventories in nearly two decades despite very little economic data supporting their hopes and even though the US Energy Information Administration, the International Energy Agency and OPEC all have recently cut their demand forecasts.
West ...
by Elaine Frei
Equities markets in Europe saw gains Friday, helped by gains in the banking sector after US bank Citigroup (NYSE: C) said that it only lost 18 cents per share in the first quarter, a better performance than analysts had anticipated.
In London, the FTSE 100 added 0.98 percent to 4,092.8 while the FTSE 250 gained 1.15 percent to 7,307.73.
Lloyds Banking Group (LSE: LLOY) turned in the best ...
April 16, 2009
by Elaine Frei
European equities markets were higher Thursday as banks climbed on a positive report from JPMorgan Chase (NYSE: JPM) helped banks to gains.
The FTSE 100 added 2.13 percent to 4,052.98 in London, while at the same time the FTSE 250 was up 1.62 percent to 7,224.76.
Barclays Bank (LSE: BARC; NYSE: BCS; TYO: 8642) lead the sector higher in London with a ...
April 15, 2009
by Elaine Frei
Crude oil prices were mixed Wednesday after the US Energy Information Administration reported that US crude oil inventories were up by 5.6 million barrels last week, much more of a gain than had been anticipated at a time when fuel demand declined by 5.2 percent over the past four weeks compared to the same period last year.
Gasoline stockpiles ...
by Elaine Frei
European equities markets were lower Wednesday, hurt by banks after Swiss bank UBS (SWX: USBN; NYSE: UBS; TYO: 8657) said it lost almost SFr2 billion in the first quarter and said it will cut jobs again.
UBS was down 6.9 percent after issuing its report.
The FTSE Eurofirst 300 was down 0.22 percent to 788.21 while the Dax fell 0.16 percent to ...
by Elaine Frei
The pound saw gains Wednesday as the Royal Institution of Chartered Surveyors reported that fewer real estate agents said in March that house prices were down than reported lower prices in February, another sign after earlier reports that mortgage approvals were up in February and that house prices rose in March for the first time since October 2007 that the worst of ...
April 14, 2009
by Elaine Frei
Crude oil prices fell Tuesday on reports from both the Energy Information Administration in the United States and the International Energy Agency, based in Paris, that oil consumption in the US and globally will fall this year., while the EIA said that oil production in the United States will likely rise this year for the first time since 1991.
West Texas ...
by Elaine Frei
Equities markets were higher in Europe and in most of the Asia-Pacific region Tuesday as banks responded positively to positive sentiment about US quarterly results in the sector, with European banks up after Goldman Sachs (NYSE: GS) released its report a day early, saying that it made more money than expected in the first quarter.
In London, the FTSE 100 added 0.13 ...
by Elaine Frei
The pound gained on the US dollar and the euro Tuesday as investors became more interested in risky currency deals after Goldman Sachs (NYSE: GS) said it made $1.81 billion in the first quarter, more than analysts expected.
In late morning trade in New York the pound traded at 89.05p to the euro at late morning in New York while it took ...
April 9, 2009
by Elaine Frei
Crude oil prices were higher Thursday to end the holiday-shortened trading week as good news came from several fronts, including better than anticipated quarterly results from a variety of sectors, while 6,000 fewer new jobless claims than expected were filed last week last week.
The Labor Department reported that 654,000 new unemployment claims were filed in the United States last week, 20,000 ...
by Elaine Frei
Equities markets were higher in Europe Thursday to end a holiday-shortened week.
In London, the FTSE 100 added 1.48 percent to 3,983.71 while the FTSE 250 gained 3.88 percent to 6,978.91 as banks and miners comprised the top five winners on the 100.
Vedanta Resources (LSE: VED) added 13 percent to top the 100, while Aquarius Platinum (LSE: AQP) led gains for miners ...
by Elaine Frei
The Japanese yen weakened Thursday as equities markets made gains, encouraging investors to pursue risky carry trades, in which higher-yielding currencies purchases are funded by the lower-yielding yen.
The yen traded at ¥132.4119 to the euro at late morning in New York, while it was at ¥100.355 to the US dollar, at ¥15.0838 to the Norwegian krone, at ¥71.76 to the Australian dollar ...
April 8, 2009
by Elaine Frei
The price of crude oil was higher Wednesday after the US Energy Information Administration reported that stockpiles of crude oil did not rise as much as had been expected last week.
May contracts for West Texas Intermediate crude ended the floor trading session 23 cents higher to $49.38 per barrel on the New York Mercantile Exchange while Brent crude added 55 ...
by Elaine Frei
Most European equities markets were higher Wednesday, but London’s markets ended slightly lower on the session even though property developers and house builders saw gains on both the FTSE 100 and FTSE 250.
The 100 dropped 0.13 percent to 3,925.52 while the 250 ended 0.02 percent lower to 6,718.41.
Barratt Developments (LSE: BDEV) was up 8.46 percent on the 250, while Redrow (LSE: RDW) ...
by Elaine Frei
The Japanese yen strengthened Wednesday on a flight from risk after the first of the quarterly reports from corporations were disappointing and on new data from Europe which showed that Germany exported fewer goods and the UK economy contracted by 1.5 percent in the first quarter.
Expectations that Japan will report another drop in machinery orders tomorrow, however, could limit the yen’s ...
April 6, 2009
by Elaine Frei
Crude oil prices were lower Monday as US equities markets saw declines but had made back a portion of the losses by the close of floor trade in New York
May contracts for West Texas Intermediate crude dropped $1.46 to $51.05 per barrel at the close of floor trade on the New York Mercantile Exchange, while Brent crude was down $1.58 to $51.89 ...
by Elaine Frei
European equities markets were lower Monday as most banks, miners and carmakers declined.
In London, the FTSE 100 was down 0.9 percent to 3,993.54 while the FTSE 250 dropped 0.59 percent to 6,885.54.
Miners were hurt after a report that Rio Tinto (LSE: RIO) might need to raise up to $10 billion dollars.
Four of the five biggest decliners on the 100 came from ...
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