Stock market fixing:
Nikkei 225 +290.38 +2.2% 13,603.31
Topix +29.22 +2.2% 1,332.57
DAX 30 -95.39 -1.46% 6,440.70
САС 40 -60.75
-1.38% 4,347.99
FTSE 100 -87.60 -1.61% 5,362.30
Dow -283.10 -2.43% 11,349.28
Nasdaq -45.77 -1.97% 2,280.11
S&P -29.65 -2.31% 1,252.54
10YR -1.3200 -0.318% 4.016%
NYMEX Crude Oil +1.05 +0.84% 125.49
Gold -0.10 -0.01% 922.70
Japan's stocks rose a third
day as the stronger dollar and a drop in oil prices sparked optimism Japanese
companies' overseas sales will weather a global slowdown.
Sony Corp.
surged the most in seven weeks as the dollar rose to the highest in a month.
Toyota Motor Corp. advanced after crude oil traded near a seven-week low, while
oil explorer Inpex Holdings Inc. sank to the lowest in four months. Mitsubishi
UFJ Financial Group Inc. led banks higher after U.S. lawmakers approved a rescue
plan for embattled mortgage lenders Fannie Mae and Freddie Mac.
Sony added
3.9%, the biggest jump since June 2. Honda Motor Co. advanced 3.8%, the most
since June 16. Toyota
jumped 5.1%.
Inpex, Japan's largest oil and
gas explorer, sank 5.5%, the lowest since March 21. Closest rival Japan
Petroleum Exploration Co. dropped 1.5%.
Mitsubishi
UFJ added 2.2%, the highest since June 19, and Orix Corp. climbed 5.8%.
European stocks fell after
German business confidence sank the most since September 2001 and forecasts
from Daimler AG and EasyJet Plc sent carmakers and airlines lower.
Daimler
tumbled 9.6% after cutting its profit forecast. EasyJet dropped after saying
earnings will slide as much as 46%. ABB Ltd. slumped the most in four months as
the world's biggest builder of electricity grids posted earnings that missed
analysts' estimates. BHP Billiton Ltd., the largest mining company, retreated
to the lowest since April as metals declined.
Business
confidence in Germany, Europe's largest economy, declined the most since the
Sept. 11 terrorist attacks in 2001, signaling growth is faltering. The Ifo
institute said its business climate index fell to 97.5 from 101.2 in June. Economists
expected a drop to 100.1, based on a survey.
Renault SA
lost 3.4%. Ford Motor Co. of the U.S. also fueled the declines in
automakers after posting a second-quarter loss of $8.7 billion.
EasyJet
fell 10% after saying fiscal-year pretax profit will slump as much as 46% because
of higher fuel expenses.
Dow tumbles more than 100 points as investors jeer huge losses from carmaker, a sharp rise in initial jobless claims and a sharp decline in existing home sales.
The National Association of Realtors reported that sales of homes by homeowners
fell 2.6% to a lower-than-expected 4.86 million annual rate in June. The
economy has slumped as home sales continue to decline, because American
homeowners have lost much of their purchasing power, leading to a decline in
consumer spending.
Also driving down stocks was a report from the U.S. Labor Department that said
new unemployment claims rose much more than expected last week. New
applications filed for jobless benefits rose by a seasonally adjusted 34,000 to
406.
Furthermore, the struggling U.S.
automaker Ford reported a huge $8.7 billion net loss for the
second quarter. The third largest automaker by sales said it would restructure
its North American product line to include more of the fuel-efficient vehicles,
as rising gas prices have severely hampered consumer interest in big trucks and
SUVs. Shares of Ford fell 6% in early trading.
Internet retailer Amazon.com , posted better-than-expected
second-quarter earnings after the market's close Wednesday. Amazon also boosted
its 2008 revenue projections, as CEO Jeff Bezos said high gasoline prices may
be luring shoppers to its Web site.