Stock
closing
Nikkei 225 -308,06 -2.13% 14,181.38
Topix -30.57 -2.18% 1397,54
FTSE 100 -29.20 -0.49% 5,877.60
CAC 40 +4.06 +0.08% 4,799.38
Xetra Dax +11.82 +0.17% 6,815.63
DOW +78.49 +0.64% 12,288.30
NASDAQ -15.10 -0.61% 2,459.46
S&P 500 +1.19 +0.09% 1,361.87
10yr Note +0.5400 +0.137% 3.992%
NYMEX Crude Oil -4.19 -3.02% 134.35
Gold -0.90 -0.10% 898.10
Japan's stocks dropped the
most in two weeks after the U.S. unemployment rate had the biggest gain
in 22 years, sparking concern the largest export market for Japanese-
made electronics and cars will sink into a recession.
Denso,
part owned by Toyota Motor Corp., lost 4.2%, the
sharpest decline since March 17, while Toyota slipped 2.9%. Canon, the world's largest digital-camera maker, retreated
4.4% and Sony Corp. skidded 3.7%, the biggest drop since April 14. Makers of electronics and cars
accounted for about a third of the Topix's drop.
Nomura Holdings Inc.,
Japan's largest securities firm, plunged 5%, the
biggest drop since April 8, while Daiwa Securities Group Inc., second
largest, dived 3.1%. The Topix Securities
Inpex jumped 3.9% and was the biggest winner on the MSCI World Index.
Closest rival Japan Petroleum Exploration Co. rose 1.8%. A gauge representing six mining companies, including both stocks,
jumped to a two-week high and was one of two industry groups that
gained on the Topix as the remaining 31 declined.
AOC Holdings Inc.,
which holds stakes in South China Sea and North Sea oil fields, jumped
7%, the highest since Jan. 9. The company's
shareholders include the Saudi Arabian government, state-owned Kuwait
Petroleum Corp. and Tokyo Electric Power Co.
European stocks fell for a fourth day as investors
speculated bank losses will increase and near- record oil prices will
curb economic and profit growth. Besides indexes could close mix by the
end of the session.
UBS fell
3.3%. The Zurich-based bank may post losses of 2
billion francs to 4 billion francs in the second quarter, Sonntag said,
citing unidentified ``insiders.'
HBOS Plc,
the U.K.'s biggest mortgage lender, fell 7.2%.
Societe Generale SA cut its price estimate on the stock 24 percent to
340 pence as it lowered its earnings estimate.
British Airways,
Europe's third-largest airline, sank 2.5%.
Ryanair, Europe's biggest discount airline, dropped 3.8%. Daimler AG, the world's second-largest luxury carmaker, slipped
1.1%.
Shell,
Europe's largest oil producer, added 1.9%. Total,
the region's third-biggest, gained 2.1%.
Volvo AB and MAN AG
retreated as UBS downgraded the truckmakers' shares to ``sell'' from
``neutral,'' saying sales volumes will probably decline. Volvo, the
world's second-largest truckmaker, fell 3.2%.
MAN, Europe's third- biggest truckmaker, dropped 4.1%.
Barratt Developments Plc led a retreat among
U.K. homebuilders after the Financial Times reported large asset
writedowns may be announced in next month's reporting season.
Land-value declines following the slide in house prices could range
from 15 to 80 percent, the newspaper said, citing ABN Amro NV analyst
John Messenger.
US stocks closed mixed Monday, as
investors eyed Lehman Brothers' big loss, Apple's new iPhone
announcement and some cautious talk from a pair of Fed officials.
Technology stocks Apple and
Google were acting as the biggest drags.
Lehman Brothers (LEH), the fourth-largest investment
bank, said on Monday that it will raise $6 billion through the issuing
of stock, to help make up for an expected loss of $2.8 billion in the
second quarter. Lehman's shares dropped 11% in pre-market trading. McDonald's reported May same-store sales rose 7.7%, topping the 3.6%
Briefing.com consensus estimate. Financial services company CIT Group
(CIT) is getting a lift in premarket action on word that the company it
has agreed to a $3 billion long-term committed financing facility with
Goldman Sachs (GS).
Diversified technology and manufacturing company Honeywell was outperforming. The company announced
that it signed a definitive agreement to sell its Aerospace Consumable
Solutions business to B/E Aerospace for $1.05 billion. Honeywell feels
the Consumables Solutions unit no longer fits with Honeywell
Aerospace's focus on advanced technologies.
Alcoa Inc. (AA:US) had the second-biggest gain in the Dow Jones
Industrial Average, rising 3.2 percent to $40.46. The world's
third-largest aluminum producer might more than double to $60 a share
were it to become a takeover target, Barron's said, citing a Citigroup
Inc. analyst.
CIT Group Inc. (CIT:US) rose the most since March 24, adding 14
percent to $10.45. The largest U.S. independent commercial lender said
Goldman Sachs Group Inc. will provide access to $3 billion in financing.