(Bloomberg) -- The yen advanced to a two-week high against the dollar before U.S. reports that may show industrial output and manufacturing contracted, adding to evidence the recession in the world’s largest economy is deepening.
Japan’s currency also climbed to the strongest in two weeks against the euro as Asian stocks fell, prompting investors to reduce holdings of higher-yielding assets. The euro may weaken for a second day versus the dollar on concern a German report today will show wholesale prices dropped for a fifth month, supporting the case for the European Central Bank to cut interest rates.
“Sooner rather than later pessimism will return to the market,” said Toru Umemoto, chief currency strategist in Tokyo at Barclays Capital, the world’s third-largest foreign-exchange trader. “The yen will be the beneficiary.”
The yen rose to 98.50 against the dollar at 12:20 p.m. in Tokyo from 98.98 in New York yesterday. It earlier reached 98.41, the strongest level since April 2. Japan’s currency gained to 130.48 per euro from 131.25, and advanced to 70.57 per Australian dollar from 71.63.
Read more at Bloomberg
Showing posts with label Euro. Show all posts
Showing posts with label Euro. Show all posts
Tuesday, April 14, 2009
Monday, August 6, 2007
Stocks Retreat in Europe; UBS, BNP, Philips, BHP, Lafarge Lead the Drop
(Bloomberg) -- European stocks fell, following
declines in Asia and the U.S., on mounting concern that losses in
the U.S. mortgage market will erode economic growth and raise
financing costs for companies.
UBS AG and BNP Paribas SA led a drop by financial shares.
Royal Philips Electronics NV and Lafarge SA decreased as the
dollar traded near a record low against the euro. BHP Billiton
Ltd. and Rio Tinto Group slipped after copper fell in Shanghai.
Read more at Bloomberg Stocks News
declines in Asia and the U.S., on mounting concern that losses in
the U.S. mortgage market will erode economic growth and raise
financing costs for companies.
UBS AG and BNP Paribas SA led a drop by financial shares.
Royal Philips Electronics NV and Lafarge SA decreased as the
dollar traded near a record low against the euro. BHP Billiton
Ltd. and Rio Tinto Group slipped after copper fell in Shanghai.
Read more at Bloomberg Stocks News
Sappi Has Third-Quarter Profit on Higher Paper Prices in Europe, Exports
(Bloomberg) -- Sappi Ltd., the world's largest maker
of glossy paper, posted a fiscal third-quarter profit after
raising prices in Europe and lifting exports.
Net income was $53 million, or 23 cents a share, in the
three months through June, compared with a $53 million loss a
year earlier, Johannesburg-based Sappi said in a stock exchange
statement today. Sales gained 6.8 percent to $1.3 billion.
Read more at Bloomberg Emerging Markets News
of glossy paper, posted a fiscal third-quarter profit after
raising prices in Europe and lifting exports.
Net income was $53 million, or 23 cents a share, in the
three months through June, compared with a $53 million loss a
year earlier, Johannesburg-based Sappi said in a stock exchange
statement today. Sales gained 6.8 percent to $1.3 billion.
Read more at Bloomberg Emerging Markets News
Pound Falls Against Euro as Traders Reduce Bets on Interest-Rate Increases
(Bloomberg) -- The pound declined against the euro as
investors cut expectations the Bank of England will raise
interest rates this year for a sixth time.
Traders are betting on one more rate increase on signs
borrowing costs at a six-year high are beginning to slow the
economy. The European Central Bank, by contrast, will raise rates
at least twice more, futures trading shows. Economists predict
U.K. industrial production almost stalled in June, adding to
signs the economy may be losing momentum.
Read more at Bloomberg Currencies News
investors cut expectations the Bank of England will raise
interest rates this year for a sixth time.
Traders are betting on one more rate increase on signs
borrowing costs at a six-year high are beginning to slow the
economy. The European Central Bank, by contrast, will raise rates
at least twice more, futures trading shows. Economists predict
U.K. industrial production almost stalled in June, adding to
signs the economy may be losing momentum.
Read more at Bloomberg Currencies News
Spain's Abengoa says buys Brazil's Dedini Agro
(Reuters) - Abengoa will assume an additional 281 million euros of debt,
it said, adding it was now the world's only bio-ethanol producer
present in the three biggest markets: Brazil, Europe and the
United States.
As of a year ago, Dedini Agro was Brazil's 16th largest
ethanol producer with around 0.4 percent of national output.
Read more at Reuters.com Mergers News
it said, adding it was now the world's only bio-ethanol producer
present in the three biggest markets: Brazil, Europe and the
United States.
As of a year ago, Dedini Agro was Brazil's 16th largest
ethanol producer with around 0.4 percent of national output.
Read more at Reuters.com Mergers News
European Government Bonds Advance as Asian Stocks Slide on Subprime Losses
(Bloomberg) -- European government bonds rose for a
second day as Asian stocks slid on concern U.S. subprime mortgage
losses will slow economic growth and drive up global financing
costs.
Gains in bunds pushed benchmark 10-year yields to near the
lowest since May as investors sold riskier assets and sought the
relative safety of government debt. Bear Stearns Cos. ousted Co-
President Warren Spector after credit-market losses and eroding
investor confidence.
Read more at Bloomberg Bonds News
second day as Asian stocks slid on concern U.S. subprime mortgage
losses will slow economic growth and drive up global financing
costs.
Gains in bunds pushed benchmark 10-year yields to near the
lowest since May as investors sold riskier assets and sought the
relative safety of government debt. Bear Stearns Cos. ousted Co-
President Warren Spector after credit-market losses and eroding
investor confidence.
Read more at Bloomberg Bonds News
Sunday, August 5, 2007
U.S. worries pressure Asian stocks, dollar
(Reuters) - The negative trend is expected to spread to Europe where financial bookmakers are calling for major markets to open around 1 percent lower.
Heightened concerns for economic growth knocked oil prices, which briefly dipped below $74.50, and dragged Shanghai copper futures down 3 percent, but flight to safety helped gold stay near one-week highs and held the benchmark U.S. 10-year Treasury yield near 2-½ month lows.
Read more at Reuters.com Hot Stocks News
Heightened concerns for economic growth knocked oil prices, which briefly dipped below $74.50, and dragged Shanghai copper futures down 3 percent, but flight to safety helped gold stay near one-week highs and held the benchmark U.S. 10-year Treasury yield near 2-½ month lows.
Read more at Reuters.com Hot Stocks News
Friday, August 3, 2007
India Tata Steel to buy 35 pct in Mozambique project
(Reuters) - India's top private steel maker Tata Steel Ltd. said on Friday it would spend A$100 million to buy a 35 percent stake in a Mozambique coal project run by Australia's Riversdale Mining Ltd..
Tata Steel, which bought Anglo-Dutch Corus for $12.9 billion this year to become the world's sixth-largest steel maker, said it would source coking coal from the project for Corus' plants in the U.K. and Europe, and for Tata's Indian units.
Read more at Reuters Africa
Tata Steel, which bought Anglo-Dutch Corus for $12.9 billion this year to become the world's sixth-largest steel maker, said it would source coking coal from the project for Corus' plants in the U.K. and Europe, and for Tata's Indian units.
Read more at Reuters Africa
European Carbon Emission Permits Fall as U.K. Natural-Gas Prices Decline
(Bloomberg) -- European Union carbon dioxide permits
fell as U.K. natural-gas prices dropped, making the cleaner-
burning fuel more attractive to power producers.
Permits for December 2008 lost as much as 30 cents, or 1.5
percent, to 20.40 euros ($27.94) a metric ton on the European
Climate Exchange in Amsterdam. They traded at 20.57 euros at
11:13 a.m. local time. That's the second drop in three days.
Read more at Bloomberg Energy News
fell as U.K. natural-gas prices dropped, making the cleaner-
burning fuel more attractive to power producers.
Permits for December 2008 lost as much as 30 cents, or 1.5
percent, to 20.40 euros ($27.94) a metric ton on the European
Climate Exchange in Amsterdam. They traded at 20.57 euros at
11:13 a.m. local time. That's the second drop in three days.
Read more at Bloomberg Energy News
European Government Bonds Post Weekly Decline as ECB Signals Rates to Rise
(Bloomberg) -- European government bonds posted their
first weekly decline in a month after the European Central Bank
indicated it will raise interest rates further this year.
The decline in German bunds, Europe's benchmark, pushed 10-
year yields to the highest in a week yesterday after ECB
President Jean-Claude Trichet signaled rates may rise from a six-
year high of 4 percent as early as September. Fellow policy maker
Lorenzo Bini Smaghi told Italian newspaper Il Sole-24 Ore that
inflation would quicken this year, adding to the case for higher
borrowing costs.
Read more at Bloomberg Bonds News
first weekly decline in a month after the European Central Bank
indicated it will raise interest rates further this year.
The decline in German bunds, Europe's benchmark, pushed 10-
year yields to the highest in a week yesterday after ECB
President Jean-Claude Trichet signaled rates may rise from a six-
year high of 4 percent as early as September. Fellow policy maker
Lorenzo Bini Smaghi told Italian newspaper Il Sole-24 Ore that
inflation would quicken this year, adding to the case for higher
borrowing costs.
Read more at Bloomberg Bonds News
Garmin to buy its Italian distributor
(Reuters) - Aug 3 - Navigational devices maker Garmin Ltd. said it plans to buy its Italian distributor, Synergy S.p.A., to strengthen its European sales and marketing presence.
Financial terms of the proposed deal were not disclosed.
Read more at Reuters.com Mergers News
Financial terms of the proposed deal were not disclosed.
Read more at Reuters.com Mergers News
UPDATE 1-EU executive sees no pan-EU fallout from IKB
(Reuters) - Officials working for Internal Market Commissioner Charlie
McCreevy, the bloc's top financial regulator, and for Economic
and Monetary Affairs Commissioner Joaquin Almunia are studying
the situation at IKB, a Commission spokesman said.
"We see no particular reason at this moment in time to be
worried. We see no pan-European implications. The matter has
been dealt with by the competent authorities," he said.
Read more at Reuters.com Government Filings News
McCreevy, the bloc's top financial regulator, and for Economic
and Monetary Affairs Commissioner Joaquin Almunia are studying
the situation at IKB, a Commission spokesman said.
"We see no particular reason at this moment in time to be
worried. We see no pan-European implications. The matter has
been dealt with by the competent authorities," he said.
Read more at Reuters.com Government Filings News
Tuesday, July 31, 2007
GM beats second-quarter estimates
(Reuters) - GM posted a second-quarter profit of $891 million against a massive $3.4-billion loss a year ago, bolstered by gains in Europe, Latin America and Asia, sales of higher-margin vehicles and a one-time, tax-related gain.
The automaker also sharply narrowed its losses in its troubled home market, but vowed to keep the pressure on costs, the overriding issue in a crucial round of ongoing labor talks with its major union.
Read more at Reuters.com Business News
The automaker also sharply narrowed its losses in its troubled home market, but vowed to keep the pressure on costs, the overriding issue in a crucial round of ongoing labor talks with its major union.
Read more at Reuters.com Business News
Vallourec Q2 earnings ahead of expectations
(Reuters) - It added that a further weakening of the dollar would reduce
the contributions of non-European units in group results.
Read more at Reuters.com Market News
the contributions of non-European units in group results.
Read more at Reuters.com Market News
Monday, July 30, 2007
UPDATE 1-US corporate bond market losing dominance - NY Fed
(Reuters) - Corporate bond issuance in the Eurobond market exceeded
those of the U.S. bond market in 2006.
U.S issuers followed the trend by relying more on the
Eurobond market for funding, a study titled "Evaluating the
Relative Strength of the U.S. Capital Markets" showed.
Read more at Reuters.com Bonds News
those of the U.S. bond market in 2006.
U.S issuers followed the trend by relying more on the
Eurobond market for funding, a study titled "Evaluating the
Relative Strength of the U.S. Capital Markets" showed.
Read more at Reuters.com Bonds News
European Stocks Fall, Led by IKB, UBS, Commerzbank; ICI Gains on New Bid
(Bloomberg) -- European stocks fell for a fifth day,
led by financial-services companies after IKB Deutsche
Industriebank AG of Germany said profit will be ``significantly''
lower than forecast, hit by the U.S. subprime mortgage rout.
IKB tumbled 20 percent. UBS AG, the biggest money manager,
and 3i Group Plc, Europe's largest publicly traded buyout and
venture-capital firm, led declines by financial companies.
Commerzbank AG slid after saying it expects to make provisions
for losses tied to the U.S. subprime mortgage market.
Read more at Bloomberg Stocks News
led by financial-services companies after IKB Deutsche
Industriebank AG of Germany said profit will be ``significantly''
lower than forecast, hit by the U.S. subprime mortgage rout.
IKB tumbled 20 percent. UBS AG, the biggest money manager,
and 3i Group Plc, Europe's largest publicly traded buyout and
venture-capital firm, led declines by financial companies.
Commerzbank AG slid after saying it expects to make provisions
for losses tied to the U.S. subprime mortgage market.
Read more at Bloomberg Stocks News
Most U.S. Stocks Drop on Lending Conern; Energy Shares, Exxon Mobil Fall
(Bloomberg) -- Most U.S. stocks declined, dragging
European shares lower, after a German bank's losses from
subprime mortgages spurred concern rising defaults will reduce
lending and end the boom in leveraged buyouts.
Financial shares fell to a 10-month low after Germany's
IKB Deutsche Industriebank AG said it scrapped an earnings
forecast because of ``massive uncertainty'' in the markets.
Exxon Mobil Corp., the world's largest energy producer,
retreated on a drop in oil prices from an almost one-year high.
Read more at Bloomberg Stocks News
European shares lower, after a German bank's losses from
subprime mortgages spurred concern rising defaults will reduce
lending and end the boom in leveraged buyouts.
Financial shares fell to a 10-month low after Germany's
IKB Deutsche Industriebank AG said it scrapped an earnings
forecast because of ``massive uncertainty'' in the markets.
Exxon Mobil Corp., the world's largest energy producer,
retreated on a drop in oil prices from an almost one-year high.
Read more at Bloomberg Stocks News
Sunday, July 29, 2007
ABN Amro Holding NV, Bulgari, Geox, Linde, Tod's: 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 fell 0.5 percent to 372.69. The Dow
Jones Stoxx 50 Index declined 0.4 percent to 3720.33. The Euro
Stoxx 50 Index, a benchmark for the 13 nations using the euro,
dropped 0.2 percent to 4244.58.
Read more at Bloomberg Stocks News
in European markets. Prices are from the last close.
The Dow Jones Stoxx 600 fell 0.5 percent to 372.69. The Dow
Jones Stoxx 50 Index declined 0.4 percent to 3720.33. The Euro
Stoxx 50 Index, a benchmark for the 13 nations using the euro,
dropped 0.2 percent to 4244.58.
Read more at Bloomberg Stocks News
Friday, July 27, 2007
UPDATE 1-Windfarm operator Trinergy for sale -source
(Reuters) - NEW YORK/FRANKFURT, July 27 - European windfarm
operator Trinergy is up for sale in a deal that could be worth
around 2 billion euros , a source familiar with
the matter said.
Several private equity companies have handed in their bids
in the second round of the transaction, which RBC Capital
Markets is running, said the source, who declined to be
identified.
Read more at Reuters.com Mergers News
operator Trinergy is up for sale in a deal that could be worth
around 2 billion euros , a source familiar with
the matter said.
Several private equity companies have handed in their bids
in the second round of the transaction, which RBC Capital
Markets is running, said the source, who declined to be
identified.
Read more at Reuters.com Mergers News
European Stocks Decline, Led by Royal Bank of Scotland, Man Group, Valeo
(Bloomberg) -- European stocks had their biggest
weekly decline in almost five months on mounting concern
financing difficulties in the credit markets will stifle mergers
and acquisitions.
Royal Bank of Scotland Group Plc and Man Group Plc led a
drop in financial shares today. Valeo SA, Europe's third-largest
maker of car parts, and computer-services company Cap Gemini SA
slipped after earnings missed analysts' estimates.
Read more at Bloomberg Stocks News
weekly decline in almost five months on mounting concern
financing difficulties in the credit markets will stifle mergers
and acquisitions.
Royal Bank of Scotland Group Plc and Man Group Plc led a
drop in financial shares today. Valeo SA, Europe's third-largest
maker of car parts, and computer-services company Cap Gemini SA
slipped after earnings missed analysts' estimates.
Read more at Bloomberg Stocks News
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