closing
Nikkei -230.97 -1.60% 14,209.17
Topix -17.66 -1.20% 1,407.44
FTSE +50.10 +0.83% 6,057.70
DAX +10.36 +0.15% 7,019.13
CAC +48.50 +0.98% 4,983.71
Dow -100.97 -0.81% 12,402.85
NASDAQ -11.05 -0.44% 2,480.48
S&P -8.02 -0.58% 1,377.65
10yr Note -0.7300 -0.184% 3.898%
NYMEX Crude Oil +0.41 +0.32% 127.76
Gold -4.40 -0.49% 892.60
Japan's stocks jumped the most in almost
two months after orders for durable goods in the U.S. unexpectedly rose
in April, easing concern an economic slowdown will curb spending in
Japan's biggest export market.
Sony Corp., which gets
a quarter of its sales from the U.S., sent electronics makers higher,
while Canon Inc. jumped the most in a month. Mazda Motor Corp., which
exports 80 percent of domestic production, led a gain by carmakers
after the yen weakened against the dollar. Wigmaker Aderans Holdings
Co. surged after its shareholders rejected the reappointment of
executives.
The Nikkei 225 Stock Average climbed 415.03,
or 3 percent, to close at 14,124.47, the sharpest gain since April 2.
The broader Topix index jumped 31.94, or 2.4 percent, to 1,380.63. All
but one of 33 industry groups on the index advanced.
European
stocks climbed after K+S AG, the region's largest maker of potash,
raised its full-year profit forecast, while declining oil prices and a
stronger dollar improved earnings prospects for retailers and exporters.
K+S
jumped the most in two weeks. Carrefour SA and Home Retail Group Plc
rose as oil fell for the first time in three days and analysts
recommended the shares. Royal Philips Electronics NV, which generates
about a quarter of its revenue from the U.S., advanced as the dollar
gained against the euro.
Shares extended an afternoon
rise as Federal Reserve Chairman Ben S. Bernanke predicted the economy
will grow without boosting inflation and U.S. factory orders
unexpectedly gained, while Royal Bank of Scotland Group Plc climbed on
speculation that demand for its rights offer is strong.
K+S
rallied 3.6 percent to 316.16 euros after the producer of potash used
in fertilizers raised its full-year profit forecast 29 percent as
prices for the commodity continued to increase.
Earnings
before interest and tax will almost quadruple to at least 1.1 billion
euros ($1.7 billion), compared with 850 million euros projected earlier.
Syngenta AG, the world's biggest maker of agricultural chemicals, gained 2.9 percent to 329 Swiss francs.
Carrefour
climbed 3.1 percent to 45.38 euros as ING Groep NV initiated coverage
of Europe's largest retailer with a ``buy'' recommendation and set a
price estimate of 57 euros.
Philips, Europe's largest consumer-electronics maker, added 2.4 percent to 24.995 euros.
U.S.
stocks dropped for a second day as growing speculation Lehman Brothers
Holdings Inc. will be forced to raise more capital led a slump in
financial shares and helped erase earlier gains spurred by increased
factory orders.
Lehman, the fourth-biggest U.S.
securities firm, slid to its lowest level since August 2003 on concern
it may report its first ever quarterly loss. Wachovia Corp., the
fourth-largest U.S. bank, declined on a report billionaire investor
Michael Price is betting the stock will drop. Exxon Mobil Corp. and
Chevron Corp. led energy shares lower as oil retreated for the first
time in three days.
Nine of 10 industry groups in the S&P 500 retreated, extending the index's 2008 retreat to 6.3 percent.
Lehman
Brothers dropped $3.29, or 9.7 percent, to $30.54 for the
second-steepest decline in the S&P 500. The fourth-biggest U.S.
securities firm may report its first quarterly loss since going public
in 1994, increasing pressure on the company to raise more capital,
according to analysts.
Lehman may seek as much as $4
billion by selling common stock, the Wall Street Journal reported
today, citing unidentified people with knowledge of the matter. Lehman
spokesman Mark Lane declined to comment.
Wachovia Corp.
declined $1.68, or 7.2 percent, to $21.72, sending the S&P 500
Banks Index to the largest drop among two dozen industry groups. Price
said the nation's fourth-biggest lender is likely to book much higher
credit losses on its holdings of adjustable-rate mortgages and will
have to raise more capital, the Wall Street Journal reported.