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May 14, 2009
by Elaine Frei
Most European equities markets were higher Thursday as banks and most miners saw gains.
In London, the FTSE 100 was up 0.72 percent to 4,362.58 while the FTSE 250 added 0.78 percent to 7,428.77.
Engineering group Invensys (LSE: ISYS) had the best day on the 100 with a gain of 13.25 percent, while travel specialist Thomas Cook Group (LSE: TCG) turned ...
May 13, 2009
by Elaine Frei
June contracts for West Texas Intermediate crude were down 83 cents to $58.02 per barrel Wednesday after the US Energy Information Administration said that crude oil stockpiles in the US fell unexpectedly last week.
US crude oil inventories dropped by 4.7 million barrels in the week ending 8 May against expectations that they would add over a million barrels, ...
by Elaine Frei
European equities markets closed lower Wednesday after news from the US Commerce Department that retail sales in the United States were lower in April, leading many to the conclusion that the economy is not prepared to recover from the recession just yet.
In London, the FTSE 100 fell 2.13 percent to 4,331.37 while the FTSE 250 was down 3.31 percent to 7,371.19.
Institutional ...
by Elaine Frei
The US dollar gained ground Wednesday as investors looked for safe places to put their cash on new data from the Commerce Department showed that US retail sales fell 0.4 percent in April, while the euro weakened on indications that the European Central Bank is likely to widen its program to purchase assets by spending more and buying a wider ...
May 12, 2009
by Elaine Frei
The price of crude oil rose Tuesday despite US inventories that remain high and are expected to have risen even more last week ahead of tomorrow’s weekly stockpiles report from the US Energy Information Administration.
Prices for West Texas Intermediate crude rose above $60 per barrel for a time Tuesday before falling back to a gain of 27 cents to $58.77 ...
by Elaine Frei
European equities markets were mostly lower Tuesday as banks saw declines in London and elsewhere after Credit Suisse (SWX: CSGN; NYSE: CS) issued a warning on UK banks.
London’s markets were mixed as the FTSE 250 added 0.18 percent to 7,623.92 but the FTSE 100 dropped 0.22 percent to 4,425.54.
Lloyds Banking Group led both the sector and the 100 lower as ...
by Elaine Frei
The US dollar weakened Tuesday after increased risk appetite reduced demand for the greenback and on new data which showed that the US trade deficit widened to $27.6 billion in March.
Meanwhile the euro strengthened on remarks from European Central Bank president Jean-Claude Trichet indicating that Bank officials believe the economy is beginning to get better, pointing to the possibility that the recent ...
May 7, 2009
by Elaine Frei
Crude oil prices were up early Thursday, but by about half an hour before the close of floor trade in New York, West Texas Intermediate crude for June delivery had dropped 16 cents below Wednesday’s close to trade at $56.18 per barrel on the New York Mercantile Exchange.
Prices for Brent crude were also lower, dropping 47 cents to $55.68 per ...
May 6, 2009
by Elaine Frei
Crude oil prices reached their highest level since mid-November on Wednesday after the US Energy Information Administration said that crude oil stockpiles in the United States grew by only 600,000 barrels last week, less than expected last week, while gasoline inventories fell by 200,000 barrels down during the same period but that at the same time distillates in storage added ...
by Elaine Frei
European equities markets saw gains Wednesday although banks were mixed in the region.
The FTSE 100 was up 1.37 percent to 4,396.49 in London, while the FTSE 250 added 0.44 percent to 7,871.2.
Banks were mixed in London as Barclays Bank (LSE: BARC; NYSE: BCS; TYO: 8642) was down 3.36 percent and Royal Bank of Scotland (LSE: RBS; NYSE: RBS PRM) dropped 4.79 ...
by Elaine Frei
The pound was weaker versus the euro, the US dollar and the yen Wednesday on concerns that the US government report on banks, due Thursday, will say that Bank of America (NYSE: BAC) needs to raise $34 billion.
Declines for the UK currency could be limited, however, by a new report from the Chartered Institute of Purchasing and Supply which ...
May 5, 2009
by Elaine Frei
Equities markets in Europe were mixed Tuesday.
Back from a bank holiday on Monday, the FTSE 100 added 2.21 percent to 4,336.94 in London while the FTSE 250 was 3.51 percent higher to 7,836.83.
British Airways (LSE: BAY; NYSE: BAB) led gainers on the 100 as it added 12.09 percent as airlines in the region bounced back from concerns that the outbreak ...
May 4, 2009
by Elaine Frei
June contracts for West Texas Intermediate crude added $1.15 near the end of floor trade on the New York Mercantile Exchange Monday to trade at $54.35 per barrel after data released late last week showing that manufacturing activity in China was up in April led to hopes that oil demand will recover in the Asian nation.
The gains came despite ...
by Elaine Frei
As London’s equities markets remained closed for a public holiday, European markets saw gains Monday after Italian carmaker Fiat (BIT: F) announced a plan to buy into troubled US carmaker General Motors (NYSE: GM).
Fiat’s shares were up 8.1 percent on the plan to take over GM’s European operations, just a few days after it agreed to buy into Chrysler, which filed for ...
May 1, 2009
by Elaine Frei
Oil prices were up Friday, as sentiments improved on recent gains in equities markets and after a report from the Institute for Supply Management showed that US manufacturing contracted less in April than it had in March.
June contracts for West Texas Intermediate crude had added $1.94 to $53.06 per barrel in early aftenroon trade on the New York Mercantile Exchange ...
by Elaine Frei
Trade was quiet on global equities markets as many European and Asian markets were closed in observance of May Day.
Markets were open in London, where the FTSE 100 fell 0.01 percent to 4,243.22 but the FTSE 250 added 0.56 percent to 7,571.33.
Most miners were higher as Kazakhmys (LSE: KAZ) led the 100 with a gain of 10.28 percent while Vedanta Resources ...
by Elaine Frei
The Japanese yen and the US dollar both lost ground Friday on continuing demand for higher-yielding currencies on indications that the global economy could be beginning to recover.
The Chinese Federation of Logistics and Purchasing reported that its Purchasing Manager’s Index was up to 53.5 in April, from 52.4 in March, indicating that manufacturing is expanding in China, while in the US ...
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