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June 8, 2009
by Elaine Frei
Europe’s equities markets saw declines Monday as banks stocks and miners had trouble gaining traction.
The FTSE 100 was 0.75 percent lower to 4,405.22 in London, while the FTSE 250 dropped 0.77 percent to 7,687.86.
Banks and miners made up all five biggest losers on the 100 as Lloyds Banking Group (LSE: LLOY) fell 7.7 percent for the biggest loss of the day on the ...
by Elaine Frei
The pound weakened during the day Monday on new calls for UK Prime Minister Gordon Brown to resign after his ruling Labour Party sustained a defeat in last week’s European Union elections.
Comments from a former official of the Bank of England in a television interview that the Bank could print more money in order to buy more assets also hurt the UK ...
June 5, 2009
by Elaine Frei
Crude oil prices were lower Friday, but not before rising to $70.32 per barrel, their highest level since October.
July contracts for West Texas Intermediate crude were 21 cents lower at $68.60 per barrel a few minutes before the close on the New York Mercantile Exchange, while Brent crude had dropped 11 cents, also to $68.60 per barrel at last report ...
by Elaine Frei
European equities markets saw gains to end the week Friday.
London’s markets seemed not to be hurt by government resignations and calls for the resignation of Prime Minister Gordon Brown.
The FTSE 100 added 1.18 percent to 4,438.56 while the FTSE 250 gained 1.14 percent to 7,747.33.
Miners were higher after Rio Tinto (LSE: RIO) said it was dropping efforts toward a deal with China’s ...
by Elaine Frei
The pound weakened Friday as at least one more government official, the Defence Minister, resigned and there were continued calls for Prime Minister Gordon Brown to follow suit.
Instead, Mr. Brown made alterations to his cabinet by moving his Health Secretary to the Home Office.
At nearly 11 a.m. in New York, the pound traded at 87.44p to the euro while it took ...
June 4, 2009
by Elaine Frei
Crude oil reached its highest price so far this year on Thursday as 15,000 fewer individuals filed first-time jobless claims last week ,according to the US Labor Department, and as the dollar weakened during the day.
July contracts for West Texas Intermediate crude added $2.69 to trade at $68.81 per barrel by the close of floor trade on the New ...
by Elaine Frei
Equities markets were mixed in Europe Thursday, on a day that both the Bank of England and the European Central Bank held interest rates steady, at 0.5 percent and 1 percent respectively.
In London, the FTSE 100 was up 0.08 percent to 4,386.04 but the FTSE 250 dropped 0.37 percent to 7,660.07.
Most miners were lower and the five biggest losers on the ...
by Elaine Frei
The pound was weaker Thursday on rumors that Prime Minister Gordon Brown was to resign in the wake of four resignations by members of Parliament over charges of inappropriate personal spending, speculation that was denied by a government spokesman.
Meanwhile, the Bank of England held interest rates steady at 0.5 percent and said it would not purchase any more gilts than those already announced, while Halifax, part ...
June 3, 2009
by Elaine Frei
Crude oil prices fell Wednesday after the US Energy Information Administration reported that inventories of crude oil and distillates rose rather than falling as expected last week, and that gasoline stockpiles fell less than had been expected during the week.
Inventories of crude oil were 2.9 million barrels higher in the week ending 29 May, against an expected decline of 2 million barrels, ...
by Elaine Frei
European equities markets were lower Wednesday on bad economic news out of the United States as the Institute for Supply Management reported that new factory orders were down in April by more than anticipated and after ADP Employer Services said that the US private sector lost 532,000 jobs in May.
The FTSE 100 was down 2.09 percent to 4,383.42 in ...
by Elaine Frei
The pound was weaker Wednesday on declines in equities markets declined and after a downgrade of US equities markets by Credit Suisse (SWX: CSGN; NYSE: CS).
The weakening came despite reports of growth in the UK services sector and better consumer sentiment in the UK in May.
At just past 11:30 a.m. in New York the pound traded at 86.53p to the ...
June 2, 2009
by Elaine Frei
European equities markets were mixed Tuesday as results for banks were mixed in the region.
The FTSE 100 was 0.65 percent lower to 4,477.02 in London while the FTSE 250 managed to add 0.17 percent to 7,772.06 on the session.
Banks were lower on the 100, led by Barclays Bank (LSE: BARC; NYSE: BCS; TYO: 8642), which dropped 13.52 percent to top the ...
June 1, 2009
by Elaine Frei
The price of crude oil was up Monday on hopes that demand for gasoline will rise both China and the United States reported positive data on manufacturing and the US dollar was weaker during the day.
West Texas Intermediate crude for July delivery was $2.11 higher to $68.42 per barrel on the New York Mercantile Exchange after trading as high as $68.68 ...
by Elaine Frei
European equities markets were higher Monday as most banks and the commodities sector were up on hopeful sentiment about the economy, and carmakers gained after General Motors (NYSE: GM) finally filed for bankruptcy protection in the United States.
In London, the FTSE 100 added 2 percent to 4,506.58 while the FTSE 250 was up 2.46 percent to 7.758.58.
Miner Xstrata (LSE: XTA) led ...
by Elaine Frei
The US dollar and the yen both weakened Monday on increased investor appetite for higher-yielding currencies after a report said that Chinese manufacturing activity remained in expansion for a third consecutive month in May, although the Chinese Federation of Logistics and Purchasing’s Purchasing Manager’s Index dropped to 53.1 in May from 53.5 in April.
A separate report from the Institute for Supply Management ...
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