(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
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