closing
Nikkei -294.88 -2.1% 13,888.60
Topix -26.89 -1.9% 1,363.14
FTSE +67.20 +1.17% 5,790.50
DAX +64.26 +0.97% 6,714.52
CAC +11.39 +0.24% 4,672.30
Dow -205.99 -1.68% 12,083.77
NASDAQ -54.93 -2.24% 2,394.01
S&P -22.95 -1.69% 1,335.49
10yr Note -0.2600 -0.063% 4.073%
NYMEX Crude Oil +5.07 +3.86% 136.38
Gold +11.70 +1.34% 882.90
Japan stock indexes fell the
most in three months, led by financial companies and commodity
producers, on concern surging inflation and credit turmoil will derail
growth.
Mitsui O.S.K. fell 4.8%. Nippon Yusen K.K., Japan's largest shipping line, lost 4.6%.
JFE Holdings Inc shares fell 6,7% after PBOC increased interest rate spurring expectations demand from China may lower.
Japan Tobacco Inc, fell 5,3% on talks of higher taxes for tobacco industry.
Kyocera Corp rose 2.9% after JPMorgan Chase and Co. upgraded shares to
«overweight».
European stocks rose for the first time in seven days
after InBev NV offered a record $46.3 billion in cash for
Anheuser-Busch Cos. and banks rebounded from their cheapest in two
months. InBev rallied the most in three months after saying it has ``strong support'' from lenders to finance the bid. Premiere AG, Germany's biggest pay-television company, and Banco Popular Espanol SA climbed on speculation they were takeover targets. Commerzbank AG rebounded from its lowest close since March, while HBOS Plc rallied after its steepest one-day drop in three months. Vedanta Resources Plc led a recovery in mining companies after Goldman Sachs Group Inc. recommended the stock.
Vedanta
advanced the most in three weeks after Goldman upgraded the shares to
``buy'' from ``neutral,'' saying the recent decline in the share price
provides ``an opportunity for investors.'' Royal Bank of Scotland Plc,
the second biggest U.K. bank, led the industry higher as a measure for
European banks showed the stocks closed yesterday at their cheapest
since April.
BASF AG, the world's
largest chemical company, climbed after Societe Generale SA lifted its
recommendation on the shares. Siemens AG rose the most in almost a
month after Chief Executive Officer Peter Loescher said the company is
``on a good way'' to reach its earnings targets. Commerzbank surged 1.19%. Allianz added
1.5%. Germany's second-largest bank and Dresdner Bank are inspecting
each others' books in preparation for possible merger talks,
Handelsblatt said, citing unidentified people from the industry. Siemens, Europe's largest engineering company, climbed 2.5%, the biggest increase since April 30.Infineon Technologies AG,
Europe's second-largest maker of semiconductors, jumped 5.5%. Elpida
Memory Inc. would consider taking a stake or a complete acquisition of
Infineon's memory-chip unit Qimonda AG, Frankfurter Allgemeine Zeitung
reported.
US stock indexes climbed as retail sales
increased more than forecast and banks rose from a five-year
low, outweighing speculation the Federal Reserve will boost
interest rates as bond yields climbed the most since April. The government reported increases to retail sales as well as weekly jobless claims. Retail
sales increased 1% in May, compared to an expected increase of 0.5%
from analyst expectations. Retail sales, excluding automobiles and gas,
rose 1.2% in May, compared to expectations of a 0.7% increase.
Wal-Mart Stores Inc. advanced after tax rebate checks pushed retail sales in May to twice the rate economists estimated. Goldman Sachs Group Inc., JPMorgan Chase & Co. and Citigroup Inc. gained after Morgan Stanley advised investors to buy financial companies.
Corporate news: Battered mortgage lender Thornburg Mortgage (TMA) swung to a first-quarter loss of $3.31 billion. The company blamed the loss on delinquent loans.
Citigroup said
it plans to close down its hedge fund Old Lane Partners. Citi paid more
than $800 million last year for the fund that was co-founded by CEO
Vikram Pandit.
Starbucks said it entered a deal with European beverage vender SSP to open more than 150 Starbucks stores in Europe
The troubled financial firm Lehman Brothers said it was replacing two top executives, including its chief financial officer, just days after announcing a massive $2.8 billion quarterly loss. Lehman stock fell about 5%.