Stock market fixing:
Nikkei 225 -233.79 -1.70% 13,926.30
Topix -29.75 -2.10% 1,370.09
FTSE +6.50 +0.10% 6,198.10
CAC -27.33 -0.54% 5,027.55
DAX -77.67 -1.09% 7,040.83
Dow -227.49 -1.77% 12,601.19
NASDAQ -43.99 -1.77% 2,448.27
S&P -22.69 -1.61% 1,390.71
10yr Note +0.4600 +0.122% 3.822%
NYMEX Crude Oil +4.19 +3.25% 133.17
Gold +8.40 +0.91% 928.60
Japan's stocks fell the most in almost two weeks after
Mitsubishi UFJ Financial Group Inc. said profit growth will stall,
fueling concern the slowing economy will diminish lending demand.
Mitsubishi UFJ fell the most in two months, while Mizuho Financial
Group Inc. dropped the most in two weeks. Sumitomo Metal Mining Co.
gained after gold prices rose to almost a one-month high. Mitsubishi
UFJ yesterday predicted profit that fell short of analysts' estimates
as it expects lending to stagnate. The shares sank 4.5%, the sharpest
loss since March 17, and contributed the most to the Topix's decline.
Mizuho fell 5% and was most the actively traded stock by value on the
first section of the exchange. Banks posted the biggest decline among
groups on the index.
T&D Holdings Inc. tumbled 5.5% and was the biggest loser on the
Nikkei. HSBC Holdings Plc yesterday downgraded T&D after valuation
losses on securities contributed to a decline in earnings.
Canon Inc. fell 3.5% and Toyota Motor Corp. lost 3.3%. Sony Corp. dropped 2.7%.
European stocks fell for a second day after oil breached $130 a barrel, stoking concern higher fuel costs will curb profits for carmakers and airlines.
Porsche SE led automakers lower after Merrill Lynch & Co.
recommended selling the maker of the 911 sports car on concern over
rising raw-material costs. Ryanair Holdings Plc, Europe's biggest
discount airline, and Air France-KLM Group fell as crude oil climbed as
much as $3.01 to $132.08.
Renault, France's second-biggest carmaker, fell 3.3%, while Continental slid 2.8%.
Ryanair lost 6.7%. Air France slid 3.5%.
AMR Corp.'s American Airlines, the world's largest carrier, will slash
U.S. capacity as much as 12%, retire as many as 85 jets and cut jobs to
blunt surging fuel prices and slowing demand.
Yell Group Plc retreated 15%.
Stocks retreated Wednesday as oil spiked past $130 a barrel,
following a weaker-than-expected weekly supply report. Oil prices have
been climbing lately amid ongoing supply concerns and the weakness in
the dollar, which makes dollar-traded commodities such as oil less
expensive.
Company news: Time Warner, the parent company of CNNMoney, will
receive a $9.25 billion dividend as part of its legal and structural
separation from Time Warner Cable.
Boeing and Hewlett-Packard were among the other big Dow losers.
AMR shares slumped 12% after its American Airlines unit said it was
cutting capacity by 11% to 12% in the fourth quarter due to record-high
oil prices.