Stock market fixing:
Nikkei 225 +203.12 +1.5% 13,893.31
Topix +24.07 +1.8% 1,368.25
FTSE 100 -28.80 -0.47% 6,058.50
CAC 40 -31.28 -0.63% 4,906.56
Xetra Dax +4.82 +0.07% 6,958.66
DOW +68.72 +0.55% 12,548.35
NASDAQ +36.57 +1.50% 2,481.24
S&P 500 +9.42 +0.68% 1,385.35
10yr Note +0.9000 +0.235%
3.921%
NYMEX Crude Oil -3.34
-2.53% 128.85
Gold -19.20 -2.07% 906.60
Japan's stocks rose the most in two weeks, led by papermakers,
after UBS AG said higher product prices will bolster their earnings, fueling
confidence companies can weather an increase in material costs.
Oji climbed 3.1%, the highest since Jan. 15. Nippon Paper added
2.5%, while Rengo gained 3.8%. Hokuetsu Paper Mills Ltd. surged
7.8%, the sharpest jump since July 2006, and Mitsubishi Paper Mills Ltd.
leapt 9.1%, with the two companies leading gains on the Nikkei.
Bank of Yokohama, the largest regional financial services company by
market value, climbed 5.1%, the sharpest gain since April 2. Bank of Saga
Ltd., based in Kyushu southern Japan, jumped 6.2%, the most since
Sept. 26, 2005. Mizuho Financial Group Inc., the country's third-
biggest bank by value, rose 4.1 percent to 534,000 yen.
Mitsui & Co., which has stakes in oil fields in Oman and Thailand,
and Inpex Holdings Inc., Japan's largest oil and gas explorer, advanced after
crude rose above $133 a barrel. Mitsui,
Japan's second-largest
trading company, jumped 3.5%, while bigger rival Mitsubishi Corp. rose 3%. Inpex
added 3.2%, the biggest gain since May 19.
European stocks fell for a third day as declines in oil and metals
prices weighed on commodity producers, the region's best-performing shares this
year, and Vodafone Group Plc said plans to cut call charges may hurt sales.
BP Plc, Europe's second-biggest oil
company, dropped as oil tumbled more than $2 a barrel. BP fell 1.2%. Total
SA, Europe's third-biggest, lost 1.1%.
British Airways Plc, Europe's
third-biggest airline, climbed 3.2%. Ryanair Holdings Plc, the region's
largest discount carrier, advanced 2.9%.PSA Peugeot Citroen, Europe's second-biggest carmaker rose 2.5%. Volkswagen
AG, the largest carmaker, increased 1.2%.
BHP Billiton Ltd., the world's largest mining company, followed copper
and gold prices lower. BHP Billiton fell 1.9%. Rio Tinto Group, the world's
third-biggest mining company, declined 1.9%. Vodafone fell 1.7%.
The company, which reported annual profit that topped analysts' estimates
today, said plans by European Union regulators to cut call charges may hurt
future sales and margins. GlaxoSmithKline Plc, Europe's
biggest drugmaker, declined 1.4% after Morgan Stanley cut its recommendation on
the stock. Roche Holding AG and Novartis AG climbed after Morgan Stanley
said it prefered Switzerland's
biggest drugmakers over U.K.
rivals.
Falling oil prices gave a boost to Wall
Street Tuesday, with the market finding some momentum late in a choppy session.
The Nasdaq climbed thanks to strength in big tech stocks such as Google,
Oracle and Apple .
Apple shares rose on continued anticipation about the late-June launch of the
new version of its iPhone. On Tuesday the company said TeliaSonera will release
the iPhone in a number of Nordic and Baltic markets.
General Motors fell 2% after a Citi Investment Research analyst
downgraded the stock to "hold" from "buy" and cut its
12-month price target as part of a broader bearish note on the auto sector,
amid weaker sales and surging commodity prices.
Ford Motor also had its earnings estimates cut by Citi.
Applied Materials Inc demonstrated it could rapidly build manufacturing
capacity for a key solar energy customer Signet Solar Inc, according to an
analyst.
Borders Group, Inc said
it may put itself up for sale, is due to report quarterly results after the
market close.
Chemtura Corp reported that
Blackstone Group LP and Apollo Management LP are in talks to acquire the
specialty-chemicals company.