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Markets in Asia were mostly lower.
The Nikkei fell 2.1% to 13,655. Sony (SNE) fell 3.1% to 4620. Toyota (TM) fell Toyota (TM) rose 1.3% to 2305.
The Hang Seng fell 1.7% to 25,014. China Petroleum (SNP) fell 4.7% to 7.50. China Mobile (CHL) fell 1.5% to 129.20.
The Shanghai Composite moved down 1.2% to 3,613.
Data from Reuters
Douglas A. McIntyre
Markets in Europe were off at 6.45 AM New York time.
The FTSE was down .2% to 6,252. Barclays (BCS) was off 2.5% to 463.25. Unilever was up 3.9% to 1727.
The DAXX was selling off .4% to 7,048. Deutsche Bank (DB) was off 1.1% to 77.11. SAP (SAP) was off 3.1% to 31.74.
The CAC 40 .4% to 5,054. EADS was down 2.5% to 15.82. Societe Generale was down 2.5% to 74.15.
Data from Reuters
Douglas A. McIntrye
Markets in Asia were mixed.
The Nikkei fell 1.1% to 13,943. Honda (HMC) fell 2.9% to 3340. KDDI fell 3.2% to 670000.
The Hang Seng was off .4% to 25,519. China Life (LFC) was down 2.4% to 33.15. China Petroleum (SNP) was off 3.6% to 7.85.
The Shanghai Composite rose 2.2% to 3,657.
Data from Reuters
Douglas A. McIntyre
Markets in Asia were mixed
The Nikkei moved up .4% to 14,102. Mazda was up 2.8% to 472. NEC was up 4.9% to 535.
The Hang Seng fell 2.4% to 25,638. China Life (LFC) was off 3.8% to 33.90. China Petroleum (SNP) was down 4.3% to 8.15.
The Shanghai Composite dropped 4.1% to 3,579.
Data from Reuters
Douglas A. McIntyre
Markets in Europe were off modestly at 6.40 AM New York time.
The FTSE dropped .6% to 6,181. British Airways was off 3.8% to 239.25. GlaxoSmithKline (GSK) was off 1.8% to 1131.
The DAXX fell .7% to 7,005. Commerzbank was down 2.5% to 23.04. Infineon was up 5.1% to 6,64. SAP (SAP) was down 1.6% to 32,
The CAC 40 was down .5% to 5,038. Credit Agricole was of 2.3% to 21.97. Societe Generale was down 2.9% to 76.15.
Data from Reuters
Douglas A. McIntyre
Markets in Asia were mixed with Japan closed for a holiday.
The Hang Seng rose .3% to 26,262. China Netcom (CN) rose 2.5% to 25.19. China Petroleum (SNP) fell 2.6% to 8.48.
The Shanghai Composite fell .7% to 3,734.
Data from Reuters
Douglas A. McIntyre
London was closed for a holiday and other market in Europe were mixed.
The DAXX was down .1% to 7,039. Siemens (SI) was down 1% to 76.30. VW was down .9% to 187.72.
The CAC 40 was off .3% to 5,057. Alcatel-Lucent (ALU) was down 2% to 4.42. EADS was off 3.8% to 16.38.
Data from Reuters
Douglas A. McIntyre
Tokyo was closed. Other markets in Asia were mixed
The Hang Seng fell .2% to 26,180. CNOOC was up 2..4% to 13.68. China Petroleum (SNP) was off 1.5% to 8.56.
The Shanghai Composite rose 1.8% to 3,761.
Data from Reuters.
Douglas A. McIntyre
Markets in Europe were rallying at 6.30 AM
The FTSE was up 1.1% to 6,151 Cadbury was up 8.7% to 630. Prudential was up 3.4% to 721.
The DAXX rose 1.2% to 7,033. BMW was up 4.6% to 36.86. Siemens (SI) was higher by 2.2% to 77.25.
The CAC 40 was higher by 1% to 5,046. Credit Agricole was up 3.2% to 22.34. Societe Generale was up 2.8% to 77.27.
Data from Reuters.
Douglas A. McIntyre
Markets in Asia were sharply higher
The Nikkei rose 2.1% to 14,049. Honda (HMC) rose 3.9% to 3430. Sony (SNE) rose 2.9% to 4920.
The Hang Seng rose 1.8% to 26,225. China Life (LFC) rose 3.9% to 35.10. China Petroleum (SNP) rose 5.2% to 8.70.
The Shanghai Composite was up 4.% to 3,693.
Data from Reuters
Douglas A. McIntyre
Markers in Europe were modestly higher at 6.30 AM New York time.
The FTSE rose .1% to 6,092. BHP Billiton (BHP) was up 2.8% to 1851. Vodafone (VOD) was off 1.5 to 157.9.
The DAXX was up .9% to 6,949. Lufthansa was down 6% to 16.87. Siemens (SI) was up 3% to 75.57.
The CAC rose .4% to 4,997. Alcatel-Lucent (ALU) was off 3.6% to 4.33. EADS was up 4.4% to 16.15.
Data from Reuters
Douglas A. McIntyre
Markets in Asia were mixed with Hong Kong and Shanghai closed for a holiday.
The Nikkei fell .6% to 13,767. Hitachi was down 2.1% to 686. NTT (NTT) was up 1.3% to 454000. Yahoo Japan was up 1.1% to 46550.
Data from Reuters
Douglas A. McIntyre
Dubai has told the EU that it will not sign any pacts which restrict how and where it will invest in the region. It considers the request a form a discrimination.
To point a point on it, Dubai can refrain from investing in Europe if it cannot do so on reasonable terms.
The FT writes that the head of Dubai World, the nation's sovereign fund said “People who have money to invest, if they hear that somebody’s going to discriminate against them, they wouldn’t go [there]."
Douglas A. McIntyre
Markets in Europe were down modestly.
The FTSE fell .7% to 6,044. Barclays (BCS) was down 3.2% to 445.5.
The DAXX was off .4% to 6,859. BMW was down 2.1% to 34.30. SAP (SAP) was off 4.6% to 31.53
The CAC 40 fell .6% to 4,948. Alcatel-Lucent (ALU) was off 7.8% to 4.16.
Data from Reuters.
Douglas A. McIntyre
Markets in Asia were mixed.
The Nikkei fell .3% to 13,450. Dentsu fell 4.4% to 239000. Honda (HMC) fell 3.8% to 3300.
The Hang Seng fell .3% to 25,836. China Netcom (CN) fell 2.7% to 23.5. China Petroleum (SNP) rose 2.9% to 8.46.
The Shanghai Composite rose 4.8% to 3,693.
Data from Reuters
Douglas A. McIntyre
Markets in Asia were mostly higher.
Tokyo was closed for a holiday
The Hang Seng rose 1% to 25,925. China Netcom (CN) rose 3.9% to 24.05. China Petroleum (SNP) rose 2% to 8.22.
The Shanghai Composite rose 1.4% to 3,523.
Data from Reuters
Douglas A. McIntyre
Markets in Asia were mixed.
The Nikkei rose .2% to 13,894. Kyorcera rose 6% to 9440. Mazda rose 7.9% to 465.
The Hang Seng rose .2% to 25,679. China Life (LFC) fell 3.1% to 32.75. China Petroleum (SNP) fell 3.6% to 7.98.
The Shanghai Composite fell 2.3% to 3,475.
Data from Reuters
Douglas A. McIntyre
Markets in Asia were mixed.
The Nikkei rose 2.4% to 13,863. Sony (SNE) rose 5.3% to 4780. Toyota (TM) rose 3.1% to 5290.
The Hang Seng fell .6% to 25,518. China Netcom (CN) fell 2.3% to 23.10. China Petroleum (SNP) dropped 2% to 5.26.
The Shianghia Composite fell 7% to 3,558.
Data from Reuters
Douglas A. McIntyre
Markets in Europe were off at 6.35 AM New York time.
The FTSE was down 1.7% to 5,977. Barclays (BCS) was down 2.4% to 445. BHP Billiton (BHP) was off 5% to 1831.
The DAXX dropped .9% to 6,733. Bayer was up 2.6% to 53.36. SAP (SAP) was down 1.7% to 32.11.
The CAC 40 was off 1.2% to 4,887. Alcatel-Lucent (ALU) was down 1.6% to 3.99. ST Micro (STM) was down 2.1% to 6.94.
Data from Reuters
Douglas A. McIntyre
Markets in Asia were mixed with Shanghai up over 9%
The Nikkei fell .3% to 13,541. KDDI rose 1.8% to 668000. Yahoo Japan fell 2.3% to 51,500.
The Hang Seng rose 1.9% to 25,775. China Life (LFC) rose 7.8% to 33.75. China Petroleum (SNP) rose 3.7% to 8.45.
Data from Reuters
Douglas A. McIntyre
Markets in Asia were mixed.
The .2% to 13,579. NEC was up 2.7% to 482. Toyota (TM) was donw 1.7% to 5140.
The Hang Seng was up 1% to 25,197. China Petroleum (SNP) was up 3.3% to 8.11. PetroChina (PTR) was up 4.6% to 11.28.
The Shanghai Composite rose 4.2% to 3,278.
Data from Reuters
Douglas A. McIntyre
Markets in Europe were up modestly.
The FTSE rose .3% to 6,069. Barclays (BCS) fell 4.1% to 458.75. RBS (RBS) fell 4% to 357.75.
The DAXX was up .3% to 6,807. Deutsche Bank (DB) was off 1.3% to 75.52. VW was up 2.2% to 190.63.
The CAC 40 moved up .3% to 4,926. France Telecom (FTE) rose 1.2% to 20.23. Societe Generale fell 1.5% to 72.78.
Data from Reuters
Douglas A. McIntyre
Markets in Asia were mixed
The Nikkei fell 2% to 13,548. NIkon was off 3.8% to 2915 Nomura was down 3.9% to 1639.
The Hang Seng was off .1% to 24,704. China Mobile (CHL) was off 2.5% to 131.3.China Petroleum (SNP) was up 3% to 7.69.
The Shanghai Composite rose 1% to 3,148.
Data from Reuters
Douglas A. McIntyre
Europe markets are narrowly mixed at 6.15 AM.
The FTSE is up .2% 6,066. BHP (BHP) was up 2.5% to 1835. Vodafone (VOD) is down 2.3% to 152.4.
The DAXX is down .5% to 6,810. Infineon was up 3.8% to 5.43. Man AG was off 2.1% to 90.04.
The CAC 40 was down .8% to 4,925. Credite Agricole was off 1.7% to 21.42. EADS was down 2% to 15.60.
Data from Reuters.
Douglas A. McIntyre
Most markets in Asia were up.
The Nikkei rose 1.6% to 13,697. Canon was up 6.1% to 5380. Honda (HMC) was up 8.8% to 3330. NEC was up 7.3% to 468. Sony (SNE) was up 5.7% to 4640.
The Hang Seng rose 2.6% to 24,818. China Life (LFC) rose 4% to 29.90. China Petroleum (SNP) rose 3% to 7.56. Petrochina (PTR) rose 3.7% to 10.18.
The Shanghai Composite was up .7% to 3,117.
Data from Reuters
Douglas A. McIntyre
Markets in Europe were up modestly at 6.25 AM New York time.
The FTSE rose .6% to 6,013. Barclays (BCS) fell 1.1% to 473.5. Lloyds fell 2.6% to 431.25.
The DAXX was up .8% to 6,733. Deutsche Bank (DB) was up 1.5% to 75.8. RWE was down 3.7% to 74.5.
The CAC 40 was up 1% to 4,909. Credit Agricole was up 1.8% to 21.06. France Telecom (FTE) was off 1.6% to 19.55.
Data from Reuters
Douglas A. McIntyre
Markets in Europe rose slightly at 6.25 AM New York time.
The FTSE was up .1% to 6,052. Barclay's (BCS) rose 2.6% to 491.5. SABMiller was up 5.5% to 1,182.
The DAXX moved up .1% to 6,708. Deutsche Telekom (DT) was down 2% to 11.08. Man Ag was up 1.2% to 90.67.
The CAC 40 traded higher by .7% to 4,887. France Telecom (FTE) was off 3.5% to 20.13. Societe Generale was up 4.8% to 71.31.
Data from Reuters
Douglas A. McIntre
Markets in Asia were mostly higher.
The Nikkei was up 1.9% to 13,398. Canon was up 5.1% to 4850. Sony (SNE) was up 4.3% to 4370. Toyota (TM) was up 2.7% to 5010.
The Hang Seng was up 1.4% to 24,200. China Petroleum (SNP) was up 4.9% to 7.27. PetroChina (PTR) was up 2.6% to 10.02.
The Shanghai Composite fell 2.1% to 3,223.
Data from Reuters
Douglas A. McIntyre
Markets in Europe were modestly higher at 6.35 AM
The FTSE rose .7% to 5,948. Barclays (BCS) was up 2.9% to 462. BA was up 2.6% to 214.
The DAXX rose .4% to 6,612. Infineon rose 5.5% to 4.82. Siemens (SI) was up 1.5% to 70.14.
The CAC 40 was up .5% to 4,804. Alcatel-Lucent (ALU) was up 2.5% to 3.73. France Telecom (FTE) was down 5.9% to 20.88.
Data from Reuters
Douglas A. McIntyre
Markets in Asia were mixed
The Nikkei rose 1.2% to 13,146. Docomo (DCM) was down 1.3% to 151000. Sony (SNE) was up 3.5% to 4190.
The Hang Seng rose .2% to 23,952. China Netcom (CN) rose 3% to 22.4. China Petroleum (SNP) rose 1.2% to 6.95.
The Shanghai Compiste fell 1.7% to 3,292.
Data from Reuters.
Douglas A. McIntrye
Markets in Asia rose modestly.
The Nikkei was up .6% to 12,991. Casio was up 2% to 1352. Hitachi was up 1.8% to 640.
The Hang Seng rose .5% to 23,919. China Life (LFC) rose rose 1.6% to 29.05. China Mobile (CHL) rose 1.2% to 127.5.
The Shanghai Composite moved up 1.6% to 3,348.
Data from Reuters
Douglas A. McIntyre
Markets in Asia were down sharply.
The Nikkei fell 3.1% to 12,918. Canon fell 5% to 4610. KDDI fell 7.8% to 641000. Sony (SNE) fell 4.5% to 4050.
The Hang Seng dropped 3.3% to 23,854. China Life (LFC) fell 4.8% to 28.9. PetroChina (PTR) fell 4.5% to 9.89.
The Shanghai Composite was of 5.6% to 3,297.
Data from Reuters.
Douglas A. McIntyre
Markets in Asia were mostly higher.
The Nikkei rose 2.9% to 13,324. Mazda was up 8.9% to 367. Toyota (TM) was up 2.5% to 4950.
The Hang Seng rose 1.6% to 24,580. China Netcom (CN) was up 3.6% to 22.9. PetroChina (PTR) was up 1.8% to 10.26.
The Shanghai Composite rose .6% to 3,493.
Data from Reuters
Douglas A. McIntyre
Most markets in Asia fell.
The Nikkei was off 1.1% to 13,112. Dentsu was up 3.4% to 247000. Sony (SNE) was down 1.4% to 4150.
The Hang Seng fell 1.3% to 23,989. China Life (LFC) was down 4% to 28.9. China Petroleum (SNP) was down 4.5% to 6.96.
The Shanghai Composite dropped 5.5% to 3,414.
Data from Reuters
Douglas A. McIntyre
Markets in Asia were mixed.
The Nikkei fell .5% to 13,250. NEC fell 2.9% to 409. Sony (SNE) fell 3.7% to 4210.
The Hang Seng fell .4% to 24,473. China Petroleum (SNP) fell 3.4% to 7.36. China Mobile (CHL) fell .4% to 127.8.
The Shanghai Composite rose .4% to 3,613.
Data from Reuters.
Douglas A. McIntyre
Markets in Europe rose modestly at 6.15 AM.
The FTSE was up .6% to 5,984. BHP Billiton (BHP) rose 2.8% to 1663. RBS (RBS) was up 2.7% to 380.
The DAXX rose .9% to 6,827. Hypo Real Estate rose 3% to 19.30. Siemen (SI) rose 1.6% to 72.25.
The CAC 40 rose .8% to 4,942. Alcatle-Lucent (ALU) rose 2.6% to 4.11. BNP Paribas rose 2.8% 70.47.
Data from Reuters
Douglas A. McIntyre
Markets in Asia rose.
The Nikkei was up 1.2% to 13,450. KDDI was up 4.1% to 691000. NEC was up 4% to 421.
The Hang Seng rose 1.1% to 24,534. China Life (LFC) rose 3.4% to 30.6. PetroChina (PTR) rose 2.7% to 10.72.
The Shanghai Composite moved up 4.5% to 3,560.
Data from Reuters
Douglas A. McIntyre
Many markets in Asia were closed for a holiday.
The Nikkei was down.7% to 13,293. Honda (HMC) was down 5.2% to 2920. KDDI was up 3.1% to 664000. Docomo (DCM) was down 2.5% to 157999.
Data from Reuters
Douglas A. McIntyre
Markets in Europe were slightly lower at 6.50 AM New York time.
The FTSE was off .4% to 5,895. Barclays (BCS) was off 2.9% to 489.5. British Air was down 3% to 240.
The DAXX fell .5% to 6,747. Commerzbank was down 4.5% to 21.57. Infineon was off 2.6% to 4.94.
The CAC 40 fell .3% to 4,894. AXA (AXA) was down 2.6% to 24.77. Credit Agricole was down 3.7% to 20.88
Data from Reuters
Douglas A. McIntyre
Markets in Asia rose.
The Nikkei was up 1.5% to 13,390. Hitachi was down 1.9% to 613. KDDI was up 3.7% to 6444000,
The Hang Seng rose 1.8% to 24,278. China Life (LFC) rose 4.2% to 29.5. China Petroleum (SNP) rose 4.1% to 7.55.
The Shanghai Composite rose 2.9% to 3,446.
Data from Reuters
Douglas A. McIntyre
Markets in Asia rallied.
The Nikkei was up 4.2% to 13,189. Honda (HMC) rose 7.3% to 3110. NEC rose 5.7% to 405. Sony (SNE) rose 5.9% to 4300.
The Hang Seng rose 3.6% to 23,595. China Life (LFC) rose 5.2% to 26.6. China Mobile (CHL) rose 4.2% to 122.6. China Petroleum (SNP) rose 5.5% to 7.26.
The Shanghai Composite rose .6% to 3,448.
Data from Reuters
Douglas A. McIntrye
Markets in Europe were up at 6.40 AM.
The FTSE was up .7% to 5,744. Barclays (BCS) was up 4.6% to 474 BP (BP) was down 1.9% to 502.5.
The DAXX rose 1.4% to 6,629. Deutsche Bank (DB) was up 3.2% to 74. Infineon was up 6.1% to 4.72.
The CAC 40 rose 1.3% to 4,766. Alcatel-Lucent (ALU) was up 3.3% to 3.74.AXA (AXA) was up 3.1% to 23.7.
Data from Reuters.
Douglas A. McIntyre
Markets in Asia were mixed
The Nikkei rose 1% to 12,656. Sony (SNE) roe 2.3% to 4060. Toshiba rose 3.2% to687.
The Hang Seng was up .1% to 22,878. China Netcom (CN) rose 1.1% to 22.65. China Petroleum (SNP) moved up 1.1% to 6.73.
The Shanghai Composite fell 4.1% to 3,329.
Data from Reuters
Douglas A, McIntyre
Reuters ran a pretty interesting article regarding Exxon Mobil Corp. (NYSE: XOM) today that really hasn't gotten much coverage. Apparently, its Esso (Thailand), its unit of Exxon Mobil in Thailand, plans to raise up to $454 million (14.3 billion Thai Baht) in an initial public offering in April. Esso (Thailand) is 87.5% owned by Exxon Mobil and the final IPO price and share count will be set on what is April 24 as of today. It also looks like about 9.6% of the total shares sold will be sold by the Thai Finance Ministry, which will dilute its percentage ownership. The use of proceeds will be used mostly to repay debt.
After seeing this we dug around for some additional data and wanted to see how this compares to the entire company and what the ramifications could be. This listing was apparently required under an agreement made in the 1990's which allowed the oil company to build a refinery in Thailand. We frequently cover spin-offs, divestitures, break-ups, IPO's and more in our own open email distribution list.
The operations of Esso (Thailand) is a complex refinery with a capacity of 177,000 barrels per day, and its 2007 results were a net profit of 7.05 billion Thai Baht on sales of almost 200 billion Thai Baht. Phatra Securities was listed as the financial adviser and lead underwriter for local market share placement and trading in Thailand, and Morgan Stanley was not as the lead underwriter for foreign markets.
If you've ever been to Thailand in recent years, you'll know that the streets are packed full of cars, scooters, and Tuk-Tuk's. What is perhaps more interesting is that despite this was under an agreement from old, this could at least get it in the minds of Exxon Mobil Corp. shareholders that the oil giant is willing to look at divesting some units. We'd urge against falling for that thought too much because the company would probably never want to bust its empire up on its own. But this will at least be what some investors ponder.
If you want to compare this financially, Exxon Mobil has a market cap of some $460 Billion. This is only about one-tenth of one-percent of the total size of the company's entire equity value. Exxon as a whole also generated US$404 Billion in total revenues in 2007. This is a small drop in the bucket (or barrel).
Jon C. Ogg
March 31, 2008
Jon Ogg produces the Special Situation Investing Newsletter and he can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.
Markets in Asia were down.
The Nikkei fell 2.3% to 12,536. Hitachi was down 5.3% to 591. KDDI was down 4.7% to 609000.
The Hang Seng fell 1.9% to 22,840. China Life (LFC) was down 4.1% to 26.8. China Unicom (CHU) was down 3.7% to 16.3.
The Shanghai Composite sold off 3% to 3,473.
Data from Reuters.
Douglas A. McIntyre
Markets in Europe were slightly higher at 6.10 AM New York time.
The FTSE rose .2% to 5,730. BHP Billiton (BHP) was up 1.9% to 1501. British Airways was off 3.3% to 239.
The DAXX was up .1% to 6,587. Commerzbank was up 2.2% to 19.89. SAP (SAP) was up 1.6% to 31.79.
The CAC rose .1% to 4,726. Sanofi-Aventis was up 2.3% to 48.12. ST Micro (STM) was up 1.4% to 6.76.
Data from Reuters
Douglas A. McIntyre
Markets in Asia were higher.
The Nikkei moved up 1.7% to 13,820. KDDI was up 2.6% to 639000. Toyota (TM) was up 2.5% to 5240.
The Hang Seng was up 2.1% to 23,129. China Life (LFC) was up 4.6% to 27.55. China Petroleum (SNP) was up 5.9% to 6.87.
The Shanghai Composite was up 4.9% to 3,580.
Data from Reuters
Douglas A. McIntyre
Markets in Europe were higher at 7 AM New York time.
The FTSE was trading up 1.1% to 5,725. Barclays (BCS) was up 3.2% to 459. HBOs was up 4.6% to 566.5.
The DAXX rose 1.4% to 6,578. Commerzbank was up 3.5% to 19.71. SAP (SAP) was down 4.2% to 31.27.
The CAC 40 moved up 1% to 4,723. AXA (AXA) rose 2.6% to 23.08. BNP Paribas was up 2.4% to 65.14.
Data from Reuters
Douglas A. McIntyre
Markets in Asia were mixed but Shanghai fell sharply.
The Nikkei fell .8% to 12,604. Honda (HMC) fell 2.5% to 2985. NTT (NTT) fell 2.5% to 433000.
The Hang Seng was flat at 22,620. China Life (LFC) fell 4.4% to 26.2. China Petroleum (SNP) fell 4.8% to 6.4.
Tha Shanghai Composite dropped 5.4% to 3,411.
Data from Reuters.
Douglas A. McIntyre
Markets in Europe were slightly lower at 6.35 AM
The FTSE was off .3% to 5,673. Lonmin was up 2.6% to 3104. Kingfisher was up 3.4% to 138.4.
The DAXX was down .2% to 6,515. Bayer was up 1.3% to 50.95. Siemens (SI) was up 1.6% to 68.53.
The FTSE was down .1% to 4,685. EADS was down 2.1% to 14.3. France Telecom (FTE) was up 1.4% to 21.18.
Data from Reuters
Douglas A. McIntyre
Markets in Asia were mixed.
The Nikkei fell .3% to 12,707. NTT (NTT) rose 2.8% to 444000. Toyota (TM) fell 1.5% to 5260.
The Hang Seng rose .9% to 22,674. China Netcom (CN) fell 2.3% to 21.3. PetroChina (PTR) dropped 1.3% to 9.7%.
The Shanghai Composite dropped a fraction to 3,607.
Data from Reuters
Douglas A. McIntyre
Markets in Eruope rose sharply at 4.40 AM New York time.
The FTSE was up 3.3% to 5,678. Barclays (NYSE:BCS) was up 10.2% to 472.75. Lloyds ws up 7.1% to 465.
The DAXX rose 3.2% to 6,519. Deustche Bnk (NYSE:DB) was up 5% to 73.78 marks. Siemens (NYSE:SI) was up 2.5% to 58.7.
The CAC 40 traded higher 3.2% to 4,680. Alcatel-Lucent (NYSE:ALU) was up 4.7% to 3.54 francs. AXA (NYSE:AXA) was up 4.6% to 22.05.
Data from Reuters
Douglas A. McIntyre
Markets in Asia were up sharply.
The Niikkei rose 2.1% to 12,745. Honda (HMC) wsa up 4.4% to 3080. NTT (NTT) was down 2.9% to 432000.
The Hang Seng rose 5.1% to 22,192. China Life (LFC) was up 7.6% to 27.05. China Mobile (CHL) was up 7.4% to 111.9.
The Shanghai Composite rose .1% to 3,630.
Data from Reuters.
Douglas A. McIntyre
Markets in Asia were mixed and Hong Kong was closed for a holiday.
The Nikkei fell a fraction to 12,480. Toyota (TM) was up 1% to 5270. Yahoo Japan was up 2.5% to 50500.
The Shanghai Composite fell 4.5% to 3,626.
Data from Reuters
Douglas A. McIntyre
Markets in Europe were off modestly at 7 AM New York time.
The FTSE was down .6% to 5,512. BP (BP) was down 1.9% to 505. British Air was up 3.9% to 231.75.
The DAXX fell .1% to 6,355. BMW was up 3.4% to 34.9. Siemens (SI) was off 1.4% to 67.95.
The CAC 40 dropped .6% to 4,530. Alcatel-Lucent (ALU) was up 4.3% to 3.42. AXA (AXA) was down 2% to 20.32.
Data from Reuters
Douglas A. McIntyre
Markets in Asia were mixed
The Nikkei was closed.
The Hang Seng 4.2% to 20.969. China Petroleum (SNP) was down 7.9% to 6.05. China Unicom (CHU) was down 7.2% to 15.38.
The Shanghai Composite was up 1.1% to 3,804.
Data from Reuters.
Douglas A. McIntyre
Markets in Asia rose.
The Nikkei was up 2.5% t 12,260. Honda (HMC) was up 5.3% to 2770. Sony (SNE) was up 6,8% to 4240.
The Hang Seng rose 3% to 22,028. China Life (LFC) rose 3.3% to 26.9. China Mobile (CHL) rose 3.9% to 108.6.
The Shanghai Composite moved up 2.5% to 3,762.
Data from Reuters.
Douglas A. McIntyre
Markets in Europe were up sharply at 7.30 AM New York time.
The FTSE rose 2% to 5,523. Barclays (BCS) is up 3.4% to 406. British Airways was up 4.1% to 226.5.
The DAXX moved up 2.2% to 6,315. DeutscheBank (DB) was up 4.3% to 68.88. Siemens (SI) was up 5.4% to 70.
The CAC 40 rose 1.8% to 4,512. Alcatel-Lucent (ALU) was up 3.1% to 3.34. Credit Agricole moved up 7% to 18.06.
Douglas A. McIntyre
Markets in Asia were mixed.
The Nikkie rose 1.5% to 11,964. Honda (HMC) was off 2.4% to 2630. Mazda was up 3.3% to 348,
The Hang Seng was up .7% to 21,240. China Petroleum (SNP) was up 2.1% to 6.27. CNOOC was down 5,5% to 10.79.
The Shanghai Composite dropped 4% to 3,669,
Data from Reuters
Douglas A. McIntyre
Markets in Europe were down sharply at 6.25 AM New York time.
The FTSE was off 2.2% to 5,506. Barclays (BCS) was down 6.9% to 403. HBOS was off 9.6% to 477.25.
The DAXX sold off 3.2% to 6,243. Commerzbank was down 7% to 16.78. Siemens (SI) was off 12.1% on a negative revision of earnings.
The CAC 40 was down 2.3% to 4,487. Alcatel-Lucent (ALU) was off 3.5% to 3.3. Societe Generale was down 7.4% to 63.64.
Data from Reuters
Douglas A. McIntyre
Markets in Asia fell sharply.
The Nikkei was off 3.7% to 11.788. Sony (NYSE: SNE) was off 5.7% to 3960. Toyota (NYS: TM) was down 5.1% to 4830.
The Hang Seng was down 4.2% to 21,315. China Life (NYSE: LFC) was off 5.8% to 26.15. China Petroleum (NYSE: SNP) was down 5.7% to 6.3.
The Shanghai Composite dropped 3.6% to 3,820.
Data from Reuters.
The news that Bear Stearns (NYSE: BSC) was sold to JP Morgan (NYSE: JPM) and that the Fed would increase liquidity for primary dealers was too much for the Japanese market to bear. It sold off 3.4% in the opending minutes and is likely to be followed by drops in exchanges in China and other Asian countries as they open for Monday morning trading.
Hitachi opend down 8.3% to 623 yen. Mazda was down 4.8% to 341. NEC was off 5.1% to 376. Toyota (NYSE: TM) traded off 3.3% to 4920.
If US exchanges give up similar numbers, the Dow could easily open down over 300 points with some financial shares suffering sharper losses.
Douglas A. McIntyre
Markets in Asia were mixed.
The Nikkei fell 1.5% to 12,242. Sony (SNE) was off 2.3% to 4200. Toyota (TM) was off 3.1% to 5090.
The Hang Seng roes .6% to 22,427. China Mobile (CHL) was up 1.4% to 107.9. China Petroleum (SNP) was down 5% to 6.65.
The Shanghai Composite fell .2% to 3,954.
Data from Reuters
Douglas A. McIntyre
Markets in Europe were off sharply at 6.30 AM New York time.
The FTSE fell 2% to 5,662. Barclays (BCS) fell 3.9% to 443. British Air fell 5.5% to 229.25. Rio Tinto (RTP) fell 2.8% to 5292.
The DAXX dropped 2.5% to 6,437. Commerzbank was down 5.3% to 18.41. Deutsche Bank (DB) was off 3.2% to 70.97. Siemens (SI) was off 3.1% to 80.06.
The CAC 40 was off by 2.5% to 4,580. Credit Agricole was off 4.3% to 17.7. BNP Paribas was down 4.6% to 56.81.
Data from Reuters.
Douglas A. McIntyre
Markets in Asia fell sharply
The Nikkei was off 3.3% to 12,433. Honda (HMC) was off 4.2% to 2940. Mazda was off 5.8% to 377.
The Hang Seng was down 4.1% to 22,458. China Life (LFC) was down 4.9% to 28.05. China Mobile (CHL) was down 4.5% to 107.7. PetroChina (PTR) was off 6.6% to 10.22.
The Shanghai Composite fell 2.4% to 3,971.
Data from Reuters
Douglas A. Mcintyre
Assets controlled by sovereign funds could hit $12 trillion by 2015, at least according to Morgan Stanley.That would put the pool of capital which they control higher than all reserves held by central banks.
If the projection is even close to being true, the issue of whether sovereign funds put money into US and European companies for political reasons will be moot. Legislators and regulators in the regions want the funds to sign in blood that their investment intentions are strictly financial.
If the economic recession in the West goes on for a couple of years, the need for capital will spread from the financial sector to the industrial, retail, airline, automotive, and perhaps even tech industries. US private equity firms are not in any shape to provides tens of billions of dollars to invest in corporations. They need borrowing from banks to set those deals. The banks do not have a farthing.
The central banks will find their capital committed to provide liquidity to a series of financial institutions beset by mortgage-backed paper losses, consumer credit losses and LBO loans which are losing their value, Without help, these banks do not have the money to lend into the system of private customers and businesses. The folly creates a system which is shackled by fear and without access to cash.
That leaves sovereign funds, fat with oil money and savings from frugal countries like Singapore, with much of the world's free capital.
When the funds come calling and the rest of the system is bereft, the idea of legislating terms will float away like smoke.
Douglas A. McIntyre
Markets in Asia were mostly higher.
The Nikkei was up 1.6% to 12,861. Japan Tobacco was down 3.5% to 550000. KDDI was up 3.7% to 623000.
The Hang Seng rose .8% to 23,185. China Life (LFC) was up 2.5% to 29.2. PetroChina (PTR) was up 1.5% to 10.8.
The Shanghai Composite dropped 2.3% to 4070.
Data from Reuters
Douglas A. McIntyre
Markets in Asia were higher.
The Nikkei rose 1% to 12,658. NTT (NTT) was off 2% to 432000. Sony (SNE) was up 2.5% to 4490.
The Hang Seng rose .7% to 22,862. China Mobile (CHL) fell 1.3% to 109.7. Hong Kong Electric rose 3.8% to 46.2.
The Shanghai Composite was up .5% to 4,166.
Data from Reuters
Douglas A. McIntyre
Markets in Europe were narrowly mixed at 7.15 AM New York time.
The FTSE was up .1% to 5,706. BHP Billiton (BHP) was off 3.8% to 1529. HSBC (HBC) was up 1.9% to 773.
The DAXX was up a fraction at 6,516. SAP (SAP) was up 1.4% to 32.15. Siemens (SI) was down 1.3% to 80.48.
The CAC 40 was up a fraction at 4,621. Alcatel-Lucent (ALU) was off 1.7% to 3.55. France Telecom (FTE) was up 1.8% to 21.62.
Data from Reuters
Douglas A. McIntyre
Markets in Asia fell
The Nikkei was off 2% to 12,532. Mazda was down 6.2% to 364. NEC was down 3.1% to 405.
The Hang Seng fell .5% to 22,384. China Life (LFC) fell 2.7% to 27.6. China Petroleum (SNP) fell 2.9% to 7.34.
The Shanghai Composite fell 3.6% to 4,146.
Data from Reuters
Douglas A. McIntyre
Markets in Europe were down sharply at 6.40 AM New York time.
The FTSE fell 1.2% to 5,697. BHP Billiton (BHP) dropped 4.4% to 1606. Rio Tinto (RTP) fell 3.3% to 5613.
The DAXX sold off 1.2% to 6,512. Siemens (SI) was off 1.6% to 81.9. Thyssen Krup was down 3.5% to 36.8.
The CAC 40 dropped. 1.1% to 4,625. AXA (AXA) was down 2.7% to 20.55. Veolia Environnement was down 6.5% to 51.37.
Data from Reuters
Douglas A. McIntyre
Market is Asia were down sharply.
The Nikkei fell 3.3% to 12,783. Honda (HMC) was down 4.2% to 2990. Sony (SNE) was down 5.1% to 4610.
The Hang Seng was off 3.5% to 22,518. China Mobile (CHL) was down 4.1% to 110.2. PetroChina (PTR) was off 4.7% to 10.52.
The Shanghai Composite fell 1.4% to 4,310.
Data from Reuters
Douglas A. McIntyre
Markets in Europe were off slightly at 6.40 AM New York time.
The FTSE was down .3% to 5,838. British Airways was off 4,3% to 253.5. British Energy was up 4.6% to 572.
The DAXX fell .3% to 6,664. Deutsche Telekom (DT) was off 1.4% to 12.15. Siemens (SI) was off 1.8% to 83.92.
The CAC 40 dropped .4% to 4,737. Alcatel-Lucent (ALU) fell 1.9% to 3.69. EADS dropped 2.5% to 18.08.
Data from Reuters
Douglas A. McIntyre
Markets in Asia rose
The Nikkei was up 1.9% to 13,215. Docomo (DCM) was up 2.6% to 159000. Yahoo Japan was up 5.4% to 47500.
The Hang Seng was up 1% to 23,343. CNOOC was up 3.2% to 12.24. PetroChina (PTR) was up 2.4% to 11.04.
THe Shanghai Composite rose 1.6% to 4,361.
Data from Reuters
Douglas A. McIntyre
Markets in Europe were up about 1% at 6.35 AM New York time.
The FTSE rose .7% to 5,810. British Airways was up 3.3% to 258.75. HSBC (HBC) was up 2.5% to 788.
The DAXX rose 1.3% to 6,632. Siemens (SI) was up 1.9% to 84.34. Commerzbank was up 3.2% to 19.21.
The CAC 40 moved up 1.2% to 4,732. EADS jumped 3% to 18.77. Societe General moved up 2.5% to 69.09.
Data from Reuters
Douglas A. McIntyre
Most markets in Asia were down slightly.
The Nikkei dropped .2% to 12,972. KDDI was up 1.8% to 631000. Mazda was up 2.2% to410.
The Hang Seng dropped .1%
