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November 21, 2008
by Peter Charalambous
The initial jobless claims for last week increased by 27,000 claims to 542,000 which represents a 16-year high, as investors and analysts had hoped that jobless claims would come down to 505,000.
The Labor Department said today that that the Conference Board's index of leading economic indicators has fallen by 0.8 percent, and manufacturing is similarly at an 18-year low.
The high ...
November 20, 2008
by Elaine Frei
Europe’s equities markets declined Thursday after miners and the oil sector saw declines.
In London the FTSE 100 was down 3.26 percent to 3,874.99 while the FTSE 250 dropped 2.24 percent to 5,578.68.
The biggest losers on the 100 were insurers as Prudential (LSE: PRU; NYSE: PUK) was down 16.33 percent and Aviva (LSE: AV) turned in the worst performance of the ...
November 18, 2008
by Elaine Frei
Most of Europe’s equities markets saw gains Tuesday as crude oil prices that were slightly higher in New York trade sent some oil producers higher and on hopes that the recession will not hurt profits too much after relatively good news from some US companies.
The FTSE 100 added 1.85 percent to 4,208.55 in London, but the FTSE 250 was 0.85 percent ...
November 17, 2008
by Elaine Frei
European equities markets were lower Monday after the Confederation of British Industry predicted that the UK’s gross domestic product will drop by 1.7 percent next year, making the British economy look worse than had been supposed.
In London the FTSE 100 was down 2.38 percent to 4,132.16 while the FTSE 250 dropped 2.46 percent to 5,977.03.
Banks were lower on the ...
November 14, 2008
by Elaine Frei
European equities markets were mostly higher Friday as optimism increased a bit on better earnings outlooks and news on sales.
In London the FTSE 100 was 1.53 percent higher to 4,232.97 but the FTSE 250 dropped 0.47 percent to 6,127.76.
The oil sector was higher as oil prices climbed but pared gains as oil prices fell later in the session, with BP ...
November 12, 2008
by Elaine Frei
European equities markets saw declines Wednesday on continuing earnings concerns and on reduced broker recommendations.
In London the FTSE 100 was 1.52 percent lower to 4,182.02 while the FTSE 250 dropped 2.39 percent to 6,251.18.
Hedge fund Man Group (LSE: EMG) had the worst day on the 100 with a decline of 23.39 percent, while pubs operator Enterprise Inns (LSE: ...
November 11, 2008
by Kay Murchie
In the wake of the economic downturn, the automotive industry has suffered and the latest company adding to the industry’s woes is US car group, General Motors (GM), who saw its shares close at a 60-year low yesterday.
Shares in the firm fell 23% to $3.36 after Barclays Capital said the group may need extra funds and ...
November 10, 2008
by Elaine Frei
Most European equities markets saw gains Monday after an announcement from the Chinese government that it will spend 4 trillion yuan ($586 billion) in the next two years in support of its economy.
In London, the FTSE 100 was up 0.89 percent to 4,403.92 and the FTSE 250 added 1.08 percent to 6,656.56 on gains in the mining sector after metals prices ...
by Peter Charalambous
According to the latest figures released by the US Labour Department, 240,000 jobs were lost last month, which is the tenth consecutive month that the US labour market has suffered.
The jobless rate now stands at 6.5 percent which is the highest rate in 14 years with 1.2 million jobs lost in 2008, although this is still within economist estimates of 8 percent.
The state of ...
November 7, 2008
by Elaine Frei
European equities markets were higher after the oil sector saw gains as oil prices rose and on the possibility that the US Federal Reserve might cut interest rates again before the end of the year.
Gains came despite the news that the US lost more jobs last month and that the unemployment rate grew to its highest level in 14 years in October.
In ...
November 6, 2008
by Elaine Frei
European equities markets saw substantial declines on disappointing earnings reports and after the Bank of England and the European Central Bank both cut interest rates during the day.
The ECB cut Eurozone interest rates by half a percentage point to 3.25 percent on a unanimous vote and could make another cut next month, while the Bank of England’s Monetary Policy Committee cut ...
November 5, 2008
by Elaine Frei
Most European equities markets were lower Wednesday on disappointing earnings reports and on declines in the oil sector after prices fell after reports from the US that gasoline inventories were up more than had been expected last week.
In London the FTSE 100 was down 2.34 percent to 4,530.73 and the FTSE 250 dropped 0.31 percent to 6,757.46.
BP (LSE: BP; NYSE: BP; TYO: 5051) was down 1.92 ...
November 3, 2008
by Elaine Frei
European equities markets were higher Monday after the London Interbank Office Rate, or Libor, the rate banks charge each other for 3-month loans in US dollars, fell 17 basis points to 2.86 percent and as investors seemed to ignore reports out of the UK and US showing that manufacturing activity was down in both nations in October.
In the UK, an ...
October 30, 2008
by Elaine Frei
European equities markets were up Thursday after interest rate cuts in the US, China and Taiwan and on encouraging earnings reports in the region.
In London the FTSE 100 added 1.16 percent to 4,291.65 while the FTSE 250 gained 3.92 percent to 6,223.78 as banks and miners saw gains and insurer Old Mutual (LSE: OML; JSE: OLOML) led the 100 with a ...
October 29, 2008
by Elaine Frei
Most European equities markets were significantly higher Wednesday, with commodities-related shares, banks and insurers all higher.
The FTSE 100 added 7.14 percent to 4,343.54 in London while the FTSE 250 was up 5.09 percent to 5,989.11 on the session.
Among the biggest winners on the day in London were insurers, as Prudential (LSE: PRU; NYSE: PUK) added 18.93 percent, Aviva (LSE: AV) ...
October 24, 2008
by Elaine Frei
Equities markets in Europe saw declines Friday as investors were concerned about earnings amid a worsening global economy.
The region’s oil sector saw declines as crude oil prices dropped despite the decision by OPEC to cut oil production, with French oil company Total (Euronext: FP; NYSE: TOT) down 3.6 percent while Royal Dutch Shell’s (LSE: RDS A, RDS ...
October 23, 2008
by Elaine Frei
Equities markets were mixed in Europe on Thursday as metals markets declined, taking miners lower, as UK retail sales were reported lower in September and as business confidence fell to its lowest level in nearly fifteen years in France.
The FTSE 100 added 1.16 percent to 4,087.83 but the FTSE 250 dropped 1.67 percent to 6,128.65.
The Office ...
October 22, 2008
by Elaine Frei
European equities markets saw significant losses Wednesday as recession worries were exacerbated by comments from Bank of England governor Mervyn King, who said that the UK is likely already entering a recession.
The FTSE 100 was 4.46 percent lower to 4,040.89 and the FTSE 250 dropped 3.27 percent to 6,232.62 in London.
Miners were among the worst performers on the ...
October 21, 2008
by Elaine Frei
European equities markets were mixed Tuesday as fears continued that the global economy is sliding toward recession.
The FTSE 100 was down 1.24 percent to 4,229.73 in London, while the FTSE 250 added 0.68 percent to 6,442.11.
Homebuilders were higher, helping out the 250 as many more than gained back yesterday’s big declines.
Barratt Developments (LSE: BDEV) added 12.67 percent while ...
October 20, 2008
by Elaine Frei
European equities markets were higher Monday on higher oil prices, positive earnings reports and on an expected Dutch rescue of ING (EuronextAMS: INGA; NYSE: ING), in which the government will buy non-voting shares of the bank and insurance group and appoint two members to ING’s board of directors.
In London, the FTSE 100 added 5.41 percent to 4,282.67 while ...
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