(Bloomberg) -- New Zealand's dollar dropped the most of any currency today, followed by its Australian counterpart, as Standard & Poor's raised the debt rating for Japan.
The New Zealand and Australian dollars also fell the most in three weeks against the yen on speculation funds will sell assets in those countries to buy Japanese investments, after S&P lifted the rating one level to AA from AA-. The two currencies were the biggest beneficiaries of so-called carry trades, where investors bought higher-returning assets with money borrowed in Japan.
Read more at Bloomberg Currencies News
Sunday, April 22, 2007
European Stocks May Rise After ABN Takeover; Novartis, Total, BP May Gain
(Bloomberg) -- European stocks may extend last week's gain on speculation takeovers will increase after Barclays Plc agreed to buy ABN Amro Holding NV for 67 billion euros ($91 billion) in the world's biggest-ever financial-services takeover.
``Equities look set to continue their upbeat run,'' said Matt Buckland, a trader at CMC Markets in London. ``No real let- up in quality merger and acquisition news is playing a large part in keeping markets buoyant.''
Read more at Bloomberg Stocks News
``Equities look set to continue their upbeat run,'' said Matt Buckland, a trader at CMC Markets in London. ``No real let- up in quality merger and acquisition news is playing a large part in keeping markets buoyant.''
Read more at Bloomberg Stocks News
Japan's Topix Drops, Led by Banks on Slower Loan Growth; Toyota Advances
(Bloomberg) -- Japan's Topix index dropped, led by lenders including Mizuho Financial Group Inc., after a quarterly report by the Bank of Japan showed slowing growth in corporate demand for loans.
``Slowing loan demand is one more negative piece of news for bank stocks, which have been sold on the outlook that their profit margin will not improve anytime soon,'' said Kimiyoshi Saito, who helps oversee around $18 billion at Chuo Mitsui Asset Management Co. in Tokyo.
Read more at Bloomberg Stocks News
``Slowing loan demand is one more negative piece of news for bank stocks, which have been sold on the outlook that their profit margin will not improve anytime soon,'' said Kimiyoshi Saito, who helps oversee around $18 billion at Chuo Mitsui Asset Management Co. in Tokyo.
Read more at Bloomberg Stocks News
Gold near 11-month high, helped by platinum
(Reuters) - Gold hovered near an 11-month high just below the psychological level of $700 an ounce on Monday, while platinum was supported by the prospect of the launch of more exchange-traded funds (ETFs).
Gold was also buoyant as funds continued to shift into the metal based on the dollar's bearishness and strength in energy prices.
Read more at Reuters Africa
Gold was also buoyant as funds continued to shift into the metal based on the dollar's bearishness and strength in energy prices.
Read more at Reuters Africa
Yen Climbs Against Euro After Standard & Poor's Raises Japan's DebtRating
(Bloomberg) -- The yen climbed after Standard & Poor's raised Japan's debt rating on government efforts to cut borrowing and spur economic growth.
The Japanese yen gained against 15 of the 16 most-actively traded currencies after S&P lifted the rating one level to AA from AA-, the first increase by the company since 1975. Signs of a strengthening economy may fuel bets the Bank of Japan will raise interest rates from the lowest in the industrialized world.
Read more at Bloomberg Currencies News
The Japanese yen gained against 15 of the 16 most-actively traded currencies after S&P lifted the rating one level to AA from AA-, the first increase by the company since 1975. Signs of a strengthening economy may fuel bets the Bank of Japan will raise interest rates from the lowest in the industrialized world.
Read more at Bloomberg Currencies News
U.K. Pound May Extend Gain Before Reports House Prices and Factory Output
(Bloomberg) -- The pound may extend its gains from a 25-year high reached last week before reports that will probably show house prices accelerated and manufacturers are more optimism on the outlook for growth in the U.K.
The British currency soared to $2 for the first time since September 1992 when speculators forced it out of the European system of linked exchanged rate. Signs accelerating inflation is feeding into wage bargaining prompted investors to raise bets the Bank of England will lift interest rates twice more this year, to the highest among the Group of Seven countries.
Read more at Bloomberg Currencies News
The British currency soared to $2 for the first time since September 1992 when speculators forced it out of the European system of linked exchanged rate. Signs accelerating inflation is feeding into wage bargaining prompted investors to raise bets the Bank of England will lift interest rates twice more this year, to the highest among the Group of Seven countries.
Read more at Bloomberg Currencies News
Shanghai Copper Price Rises as Stockpile Decline Signals Increased Demand
(Bloomberg) -- Copper futures in Shanghai rose, snapping a two-day decline, as a drop in global stockpiles signaled increasing demand for the metal.
Stockpiles monitored by the London Metal Exchange fell to 169,075 metric tons on April 20, down 3 percent on a week earlier and below the 170,000-ton level for the first time since December 12, 2006. Most decreases occurred in warehouses in the U.S., the world's second-biggest copper user after China.
Read more at Bloomberg Commodities News
Stockpiles monitored by the London Metal Exchange fell to 169,075 metric tons on April 20, down 3 percent on a week earlier and below the 170,000-ton level for the first time since December 12, 2006. Most decreases occurred in warehouses in the U.S., the world's second-biggest copper user after China.
Read more at Bloomberg Commodities News
Britain's Economic Growth May Have Slowed on Three Interest-Rate Increases
(Bloomberg) -- The growth of the U.K. economy, Europe's second-largest, probably slowed in the first quarter after the Bank of England raised interest rates, a survey of economists shows.
Gross domestic product increased 0.6 percent, compared with 0.7 percent in the previous two quarters, according to the median of 40 forecasts in a Bloomberg News survey. The Office for National Statistics will release the report April 25 at 9:30 a.m. in London. The annual growth rate probably fell to 2.8 percent from 3 percent, according to the survey.
Read more at Bloomberg Bonds News
Gross domestic product increased 0.6 percent, compared with 0.7 percent in the previous two quarters, according to the median of 40 forecasts in a Bloomberg News survey. The Office for National Statistics will release the report April 25 at 9:30 a.m. in London. The annual growth rate probably fell to 2.8 percent from 3 percent, according to the survey.
Read more at Bloomberg Bonds News
PREVIEW-Japan electronics firms see growth, Sony to shine
(Reuters) - *When: from April 25 to May 28
*Robust outlook for 2007/08 on flat TV demand
Read more at Reuters.com Market News
*Robust outlook for 2007/08 on flat TV demand
Read more at Reuters.com Market News
ABN Amro, Fiat, MTU, Nestle, Novartis, Pirelli: European Equity Preview
(Bloomberg) -- The following stocks may rise or fall in European markets. Prices are from the last close.
The Dow Jones Stoxx 600 advanced 1.3 percent to 389.27. The Dow Jones Stoxx 50 Index climbed 1.5 percent to 3895. The Euro Stoxx 50 Index, a benchmark for the 13 nations using the euro, rose 1.8 percent to 4416.79.
Read more at Bloomberg Stocks News
The Dow Jones Stoxx 600 advanced 1.3 percent to 389.27. The Dow Jones Stoxx 50 Index climbed 1.5 percent to 3895. The Euro Stoxx 50 Index, a benchmark for the 13 nations using the euro, rose 1.8 percent to 4416.79.
Read more at Bloomberg Stocks News
Australia's S&P/ASX Index Falls, Led by National Australia, Commonwealth
(Bloomberg) -- Australia's S&P/ASX 200 Index fell 22.10, or 0.4 percent, to 6185.40 as of 1:51 p.m. in Sydney. National Australia Bank Ltd. and Commonwealth Bank of Australia declined.
To contact the reporter for this story: Emma O'Brien in Wellington on eobrien6@bloomberg.net
Read more at Bloomberg Stocks News
To contact the reporter for this story: Emma O'Brien in Wellington on eobrien6@bloomberg.net
Read more at Bloomberg Stocks News
JGB futures little changed, eye auctions and BOJ
(Reuters) - Bond investors were keeping an eye on the performance of stocks and Treasuries and holding a wait-and-see stance leading up to a slew of data on Friday including consumer prices and the Bank of Japan's twice-yearly economic outlook report.
Short-term yields have steadily risen and euroyen futures have slid to a nine-year low as investors believe the BOJ will likely lift overnight rates later in the year to 0.75 percent from the current 0.5 percent as long as growth remains solid.
Read more at Reuters.com Bonds News
Short-term yields have steadily risen and euroyen futures have slid to a nine-year low as investors believe the BOJ will likely lift overnight rates later in the year to 0.75 percent from the current 0.5 percent as long as growth remains solid.
Read more at Reuters.com Bonds News
Shanghai Copper Rises on Decline in Stockpiles, Aluminum and Zinc Increase
(Bloomberg) -- Copper futures in Shanghai rose, snapping a two-day decline, as a drop in global stockpiles, supported an outlook for increasing demand for the metal.
Stockpiles monitored by the London Metal Exchange fell to 169,075 metric tons on April 20, down 3 percent on a week earlier and below the 170,000-ton level for the first time since December 12, 2006. Most decreases occurred in warehouses in the U.S., the world's second-biggest copper user after China.
Read more at Bloomberg Commodities News
Stockpiles monitored by the London Metal Exchange fell to 169,075 metric tons on April 20, down 3 percent on a week earlier and below the 170,000-ton level for the first time since December 12, 2006. Most decreases occurred in warehouses in the U.S., the world's second-biggest copper user after China.
Read more at Bloomberg Commodities News
China Mobile President Seeks Assets in Southeast Asia, Africa to Add Sales
(Bloomberg) -- China Mobile Communications Corp., parent of the world's largest wireless operator by market value, plans to acquire companies in Africa and Southeast Asia to boost subscriber revenue.
``We are interested in neighboring countries in Southeast Asia and some other emerging markets like those in Africa,'' Wang Jianzhou, president of the Beijing-based company, said in an interview yesterday at the Boao Forum on the southern Chinese island of Hainan. He declined to identify companies or say if an acquisition was likely this year.
Read more at Bloomberg Currencies News
``We are interested in neighboring countries in Southeast Asia and some other emerging markets like those in Africa,'' Wang Jianzhou, president of the Beijing-based company, said in an interview yesterday at the Boao Forum on the southern Chinese island of Hainan. He declined to identify companies or say if an acquisition was likely this year.
Read more at Bloomberg Currencies News
Singapore's Straits Times Index Advances; United Overseas and SingTel Gain
(Bloomberg) -- Singapore's Straits Times Index rose 45.69, or 1.4 percent, to 3406.36 as of 9:01 a.m. local time. April futures climbed 1.4 percent to 418.3.
United Overseas Bank Ltd. and Singapore Telecommunications Ltd. led gains.
Read more at Bloomberg Stocks News
United Overseas Bank Ltd. and Singapore Telecommunications Ltd. led gains.
Read more at Bloomberg Stocks News
India's Rupee May Rise as Central Bank Allows Gains to Contain Inflation
(Bloomberg) -- India's rupee may advance an eighth week on speculation the central bank will refrain from curbing gains to temper inflation, after a report on April 20 showed wholesale prices accelerated, traders said.
Nine of 10 traders surveyed by Bloomberg News expect the currency to extend its rally after last week closing at the highest in almost nine years. Central bank policy makers, who meet tomorrow to decide on interest rates, may allow the rupee to gain in their effort to tame inflation that stayed above their comfort level for the 18th consecutive week.
Read more at Bloomberg Currencies News
Nine of 10 traders surveyed by Bloomberg News expect the currency to extend its rally after last week closing at the highest in almost nine years. Central bank policy makers, who meet tomorrow to decide on interest rates, may allow the rupee to gain in their effort to tame inflation that stayed above their comfort level for the 18th consecutive week.
Read more at Bloomberg Currencies News
China's Coal Imports Increase 53 Percent in March; Exports Drop 36 Percent
(Bloomberg) -- China, the world's second-largest energy consumer, increased coal imports by 53 percent to 5.67 million metric tons in March.
The nation's coal exports fell 36 percent to 3.71 million tons in the same month.
Read more at Bloomberg Energy News
The nation's coal exports fell 36 percent to 3.71 million tons in the same month.
Read more at Bloomberg Energy News
Japan's Nikkei 225 Stock Average, Topix Climb; Toyota and Canon Lead Gain
(Bloomberg) -- Japan's Nikkei 225 Stock Average rose 133.99, or 0.8 percent, to 17,586.61 at 9:03 a.m. in Tokyo. The broader Topix index added 10.76, or 0.6 percent, to 1720.83.
Toyota Motor Corp. and Canon Inc. led the advances.
Read more at Bloomberg Stocks News
Toyota Motor Corp. and Canon Inc. led the advances.
Read more at Bloomberg Stocks News
Dollar May Fall to More Than Two-Year Low Against Euro on Tighter Rate Gap
(Bloomberg) -- The dollar may fall to the lowest in over two years against the euro on concerns the U.S. interest rate advantage over Europe will decline.
The dollar has fallen more than 10 percent versus the euro over the past year as the spread between U.S. and European three- month rates reached its tightest gap in almost two years. Signs of as U.S. slowdown have fueled bets the Federal Reserve will cut interest rates as the European Central Bank raises borrowing costs.
Read more at Bloomberg Currencies News
The dollar has fallen more than 10 percent versus the euro over the past year as the spread between U.S. and European three- month rates reached its tightest gap in almost two years. Signs of as U.S. slowdown have fueled bets the Federal Reserve will cut interest rates as the European Central Bank raises borrowing costs.
Read more at Bloomberg Currencies News
BHP, Origin, Westfield, Woodside Petroleum: Australian Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may rise or fall in Australia. This preview includes news announced after markets closed on April 20. Prices are from April 20's close unless otherwise stated. Stock symbols are in brackets after the company names.
The S&P/ASX 200 Index futures contract due in June added 50 points, or 0.8 percent, to 6278 at 8:37 a.m. in Sydney. The Bank of New York Australia ADR Index rose 1.6 percent in New York.
Read more at Bloomberg Stocks News
The S&P/ASX 200 Index futures contract due in June added 50 points, or 0.8 percent, to 6278 at 8:37 a.m. in Sydney. The Bank of New York Australia ADR Index rose 1.6 percent in New York.
Read more at Bloomberg Stocks News
Australia Dollar Little Changed Near 17-Year High on Metal Prices, Yields
(Bloomberg) -- The Australian dollar traded near a 17-year high as the price of raw materials the nation exports rose and investors were drawn to the country's higher returning assets.
The local dollar is the second-biggest gainer this year after New Zealand's among the 16 most-traded currencies, as Australia's 1 percentage point interest rate advantage over the U.S. and 5.75 point spread with Japan lures investors. A measure of six metals on the London Metal exchange advanced 1.5 percent to a near-record close April 20. About 14 percent of Australia's economic growth comes from commodity exports.
Read more at Bloomberg Currencies News
The local dollar is the second-biggest gainer this year after New Zealand's among the 16 most-traded currencies, as Australia's 1 percentage point interest rate advantage over the U.S. and 5.75 point spread with Japan lures investors. A measure of six metals on the London Metal exchange advanced 1.5 percent to a near-record close April 20. About 14 percent of Australia's economic growth comes from commodity exports.
Read more at Bloomberg Currencies News
U.S. Congress may act to keep guns from mentally ill
(Reuters) - "Given the horror that happened at Virginia Tech, I think there's a real chance of passing this," said Sen. Charles Schumer, a New York Democrat, told "Fox News Sunday."
A Republican leadership aide agreed, telling Reuters, "If there is a consensus, and it is in lieu of knee-jerk draconian measures, probably really good."
Read more at Reuters.com Bonds News
A Republican leadership aide agreed, telling Reuters, "If there is a consensus, and it is in lieu of knee-jerk draconian measures, probably really good."
Read more at Reuters.com Bonds News
Bank of Israel Reduces Key Interest Rate a Quarter-Point to 3.75 Percent
(Bloomberg) -- The Bank of Israel lowered its benchmark lending rate by a quarter-point and signaled further cuts as five earlier reductions failed to spark a depreciation of the shekel and boost inflation to the government's target range.
The rate the central bank charges commercial lenders was lowered to 3.75 percent as of April 26, the Jerusalem-based bank said in a statement. Ten out of 11 economists surveyed by Bloomberg last week had forecast the 25-basis point reduction, with the one saying the rate would remain unchanged.
Read more at Bloomberg Emerging Markets News
The rate the central bank charges commercial lenders was lowered to 3.75 percent as of April 26, the Jerusalem-based bank said in a statement. Ten out of 11 economists surveyed by Bloomberg last week had forecast the 25-basis point reduction, with the one saying the rate would remain unchanged.
Read more at Bloomberg Emerging Markets News
U.S. Congress set to defy Bush on Iraq war
(Reuters) - Bush has promised to veto any bill setting dates for removing U.S. combat soldiers from the Iraq war, now in its fifth year.
But when a Democratic-controlled panel of Senate and House of Representatives members meets on Monday to iron out differences between their respective bills, the product is expected to contain 2008 withdrawal dates.
Read more at Reuters.com Bonds News
But when a Democratic-controlled panel of Senate and House of Representatives members meets on Monday to iron out differences between their respective bills, the product is expected to contain 2008 withdrawal dates.
Read more at Reuters.com Bonds News
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