closing
Nikkei +101.60 +0.71% 14,440.14
FTSE -45.90 -0.76% 6,007.60
DAX -88.02 -1.24% 7,008.77
CAC -79.07 -1.58% 4,935.21
Dow -134.50 -1.06% 12,503.82
NASDAQ -31.13 -1.23% 2,491.53
S&P -14.71 -1.05% 1,385.67
10yr Note -0.8300 -0.205% 3.963%
NYMEX Crude Oil +0.90 +0.71% 128.25
Gold +5.40 +0.61% 896.90
Asian stocks gained for the third day on expectations demand for row materials will support prices.
Mizuho, Japan's second-largest publicly traded bank by market value, surged 6.7 percent to 591,000 yen, the highest since Dec. 12.
Mitsubishi UFJ Financial Group Inc., the largest, rose 4.7 percent to 1,129 yen. The 85-member Topix Banks Index climbed 3.9 percent to its highest since Dec. 13.
Sony, the world's No. 2 consumer-electronics maker,
rose 4.6 percent to 5,520 yen, its highest close since Jan. 18. The
stock was raised to ``buy'' from ``neutral'' at Goldman Sachs, citing
the weakness in the yen and sustained demand in North America.
European stocks fell for
the first time in four days as Bradford & Bingley Plc said it will
raise capital, reviving concern credit losses are spreading.
Bradford & Bingley plummeted
21.25% after the lender slashed the price of its rights offering and
said it will sell a 23 percent stake to TPG Inc. for 179 million pounds
($353 million).
The company had a pretax loss of 8
million pounds, including one-time items, in the first four months of
the year, and Chief Executive Officer Stephen Crawshaw resigned for
health reasons.
HBOS sank 10%. Alliance & Leicester Plc decreased 5.2%. Air France, Europe's largest airline, lost 3.5%. Deutsche Lufthansa AG, the region's second-biggest carrier, slipped 2.5%.
Michelin & Cie.
retreated 4.9% after Credit Suisse Group cut its share-price estimate
on the world's second-largest tiremaker by 19% and reiterated its
``underperform'' recommendation.Credit Suisse also lowered its price
target on Continental AG shares by 2 percent to 93 euros and removed
the stock from its ``focus list.'' The shares fell 4.6%. Roche, the
world's biggest maker of cancer medicines, rose 4.6% after clinical
data showed its Avastin tumor drug helped patients live longer.
Novartis AG
climbed 2.3%. Switzerland's second-largest drugmaker said its
experimental cancer treatment RAD001 made the Femara medicine more
effective in breast-cancer patients.
Merck KGaA
fell 2.8 percent to 87.79 euros after new data on the Erbitux cancer
drug cast doubt it can overtake Roche's Avastin as the medicine of
choice for bowel and lung tumors.
US stocks closed Monday lower on new worries about
the financial sector after
S&P cut its debt rating on a number of banks, and Wachovia and
Washington Mutual announced management shakeups. The broad stock
declines accelerated in the afternoon after S&P said it was cutting
its debt rating on Merrill Lynch, Lehman Brothers and Morgan Stanley to "negative" from "stable" and cut its long-term outlook on JP Morgan Chase and Bank of America. The changes followed S&P's conclusion of its review of the securities industry.
Best Buy The electronics retailer was unveiling a program Monday that would allow customers to bring in old TV sets and other gadgets so that they can be properly disposed, and not poison the nation's landfills.
ImClone The biotech's price edged up 1% in pre-market trading, after the New York company unveiled study results on Sunday showing that its drug Erbitux extended survival in lung cancer patients by one month.