Stock market fixing
Nikkei 225 +15.08
+0.12% 13,067.21
Topix -5.19 -0.4% 1 280.72
FTSE -122.80 -2.22% 5,406.80
DAX -81.46 -1.28%
6,305.00
CAC -108.10 -2.49% 4,231.56
Dow +81.58 +0.73%
11,229.02
NASDAQ +22.96 +1.03% 2,257.85
S&P +8.70 +0.70%
1,253.39
10yr Note -0.2300 -0.060%
3.811%
NYMEX Crude Oil +5.60
+4.12% 141.65
Gold +13.40 +1.44% 942.00
Japanese stocks fell to the lowest in three months amid concern weakness in the U.S.
market will erode earnings, and shipping lines slumped after cargo rates for
commodities fell.
Toyota Motor Corp. slumped to the
lowest since September 2005 after KBC Securities said operating profit will
likely slump 28% this year as U.S.
truck sales shrink. Mitsui O.S.K. Lines Ltd. led shippers lower while Daiichi
Sankyo Co. sank the most in six months after its Indian buyout target become
the subject of a probe over generic drugs. JFE Holdings Inc. sent steelmakers
higher after a South Korean rival raised its profit forecast.
Toyota lost 1.8%. Smaller rivals Honda
Motor Co. and Nissan Motor Co. fell 1.9% and 2.4% respectively.
Mitsui O.S.K. fell 2.7%. Market leader
Nippon Yusen K.K. dropped 2.3%.
Daiichi Sankyo sank 5.5%, the
steepest slump since Jan. 22 and the Nikkei's third-biggest decline.
European stocks rose after takeovers increased and a six-week decline in the Dow Jones Stoxx
600 Index left shares at their cheapest relative to earnings in at least six
years.
Alliance & Leicester Plc surged
53% after Banco Santander SA agreed to buy the U.K. bank, while Continental AG,
Europe's second-biggest tiremaker, jumped on
talks with Schaeffler Group. TNT NV rallied after a report that it's in preliminary talks
with FedEx Corp. ITV Plc gained on reports Endemol NV
and other media companies may be interested in the broadcaster.
InBev NV plans to pay $52 billion for
Anheuser-Busch Cos. of the U.S. InBev sweetened its initial offer by 7.7% and
agreed to rename itself Anheuser-Busch InBev, the brewers said.
Royal Philips Electronics NV gained
6.4%. Europe's biggest television maker posted
second-quarter profit of 720 million euros ($1.14 billion), beating the
estimate of 183.5 million euros in a survey.
Stocks posted slim gains Monday as investors welcomed the government's plan to rescue Fannie Mae and Freddie Mac, but remained wary about the outlook for the economy amid the credit crisis.
The companies can also access the
Federal Reserve Bank of New York
for funds if necessary, giving the firms the same access to funds that
commercial banks and Wall Street firms. The failure of the two companies would
cause more malaise for an already battered financial system, causing more
losses to companies that have large holdings of mortgage-backed securities.
Freddie and Fannie shares were both
lower Monday, giving up bigger opening gains. Both lost nearly half their value
last week.
Over the weekend, Anheuser-Busch
agreed to InBev's improved $54 billion takeover offer. The combination of the
maker of Bud beer and the Belgian beer company will create the world's largest
brewer.
Also this weekend, Yahoo spurned an
offer from MIcrosoft and investor Carl Icahn to buy the company's Internet
search unit
In other Microsoft news, the company
said late Friday that it was cutting the price of its Xbox 360 gaming console
and introducing a new model with a bigger hard drive.