Stock market fixing:
Nikkei-160.21-1.13%14,021.17
Topix-14.34-1,0%1 383,20
FTSE-50.30-0.86%5,827.30
DAX-44.53-0.65%6,771.10
CAC-38.30-0.80%4,761.08
DOW +10.74 +0.09%
12,291.06
NASDAQ -10.02 -0.41% 2,449.44
S&P 500 -3.21
-0.24% 1,358.55
10yr Note+1.0700+0.268%4.099%
NYMEX Crude Oil-3.04-2.26%131.31
Gold-26.90-3.00%871.70
Japan stocks fell Tuesdays, led by developing companies on concerns rising rates and inflation
pressure cut corporate profits.
Kenedix Inc lost 9,9%, down to the
lowest since Mar 14.
Sanyo Electric Co. declined 4.3%
after Fed’s Bernanke’s comments spurred US
stocks futures sell-off and supportedUS
currency.
Godo Steel Ltd. retreated 8.1% after
analysts from Morgan Stanley downgraded company’s stocks to «underweight».
Exporters were also down. Canon slid 2%, while
Nintendo fell 1.8%. Automakers’ losses were muted, with Honda down 0.8% and
Nissan losing 0.5%.
NGK Insulators Ltd., meanwhile, added
1,2%.
EU major indexes fell Tuesday for the fifth day in a row, the longest steak of decline for
the last two months.
World Bank said world economy growth
may fall to 2,7%versus 3,3% in January
amid rising prices for oil and food.
BHP Billiton Ltd. retreated 2.8 % on
expectations demand for metal will slow.
TescoPlcfell2.5
% tothelowestforthelasttwomonths.
Fortis lost 3.8% after Merrill Lynch
& Co downgraded stocks to «neutral» from «buy».
Taylor Wimpey Plc collapsed 16%. Barratt
Developments Plclost 24%.
But BNP Paribas SA rose 1,3%, while UBS
AG added 2,9%.
Wall Street closed mix as rising oil prices and comments from Fed chief Ben Bernanke raised
worries about inflation and higher interest rates.
Bernanke indicated that the Fed may
soon need to raise interest rates, to combat rising commodity prices and other
inflationary pressures and to help the weakened dollar. Bernanke also said that
despite a big jump in unemployment in May, the danger that the economy has
fallen into a "substantial downturn" seems to have eased.
The gap between imports and exports grew more than expected in April, the government
reported, due largely to high oil prices. The trade gap swelled to $60.9
billion in April, a 13-month high, from a revised $56.5 billion in March.
Economists expected $60 billion, on average, according to a survey.
Company news:
A variety of financial stocks bounced back Tuesday, finding some momentum after
Monday's big slide. Gainers included Dow components AIG, American Express, Bank
of America, Citigroup and JP Morgan Chase.
Lehman Brothers was an exception,
falling for a second session as analysts said that the firm is likely to see
years of smaller profits as a result of its plan announced Monday to raise an
additional $6 billion in capital. The brokerage forecast Monday that it would
post a quarterly loss of nearly $2.8 billion.