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Sensex crashes over 300 points in early trade |
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Thursday, 20 November 2008 03:10 |
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Indian equities markets opened far lower on Thursday compared to last closing figures, and a key index crashed over 300 points within 10 minutes of the opening bell. The cue came largely from Wall Street, where the Dow closed at a five-year low on Wednesday.
The 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened at 8,400.88, already well below its previous close at 8,773.78. At 10 a.m. it was at 8,439.49, which was 334.29 points or 3.81 percent below the last closing figure. (IANS) |
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Japan stocks dive 6.9 percent after US sell-off (AP) |
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Thursday, 20 November 2008 00:21 |
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AP - Japanese stocks dived Thursday after a steep drop on Wall Street and government data showing that Japan"s exports suffered a brutal drop in October.
The benchmark Nikkei 225 stock average plunged early in the day and never recovered, finishing down 6.9 percent, or 570.18 points, at 7,703.04. The broader Topix index ended off 5.5 percent, or 45.15 points, at 782.28.
Japan posted a trade deficit in October, the second in three months, as exports fell 7.7 percent from a year earlier, the biggest drop since 2001.
Shinko Securities senior strategist Yutaka Miura said the near-term outlook for shares is grim.
"People are watching U.S. shares closely, and the Japanese market is vulnerable to more falls," he said.
In the U.S. Wednesday, stocks dropped to levels not seen since 2003, with the Dow Jones industrial average down 5.1 percent, or 427.47 points, to 7,997.28.
Isuzu Motors Ltd. fell 17 percent to 123 yen, after the truck maker said it will cut 1,400 contract workers as it scales back production for this fiscal year. Isuzu was the latest carmaker to announce production cuts, joining domestic rivals such as Toyota Corp. and Honda Motor Co.
Japanese financials also felt the pinch. Nomura Holdings, Inc. was down 11 percent to 666 yen, and Daiwa Securities Group, Inc. fell 9.8 percent to 397 yen. |
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India Equities in red, key index down 346 points |
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Monday, 17 November 2008 06:26 |
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Indian equities markets opened higher today but immediately began to shed value with a key index even going below the psychologically important 9,000 mark before again inching up to stay just above that mark two hours into trading. Two hours into trading the 30-share benchmark sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was ruling at 9,039.34, down 346.08 points or 3.69 per cent from its previous close last on Friday at 9,385.42 points. The Sensex opened slightly higher at 9,396.93 but immediately began to slide to hit an intra-day low of 8,993.55 before inching up to its current value. The broader-based 50 share S&P CNX Nifty of the National Stock Exchange (NSE) also showed a similar trend and was ruling at 2,717.90, down 92.45 points or 3.29 per cent from its previous close at 2,810.35 points. The BSE midcap index was ruling at 3,117.79, down 98.29 points or 3.06 percent from its previous close at 3,216.08 points. The BSE smallcap index was ruling at 3,661.26, down 103.79 points or 2.76 per cent from its previous close at 3,765.05 points. (IANS) |
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German"s KfW reports 1.8 billion euro 9-month loss
(AP) |
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Monday, 17 November 2008 05:00 |
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AP - KfW, the German state-owned development bank, said Monday that write-downs and the bailout of IKB Deutsche Industriebank AG drove it to a 1.8 billion euro ($2.3 billion) loss in the first nine months of 2008. |
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Inventories fall in September by most in 3 years (AP) |
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Friday, 14 November 2008 08:07 |
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AP - Businesses cut back on their inventories by a larger-than-expected amount in September, a possible sign of falling confidence in the face of a worsening economic slump. The Commerce Department said Friday that business inventories dropped by 0.2 percent in September. It was the first decline since March 2007 and the biggest drop in more than three years, since inventories fell by 0.3 percent in July 2005.Economists had expected inventories would be unchanged in September. The big decline could be an indication that businesses are trying to cut back in the face of weakening consumer demand.The 0.2 percent overall drop in inventories followed a 0.2 percent rise in August, and reflected a 0.7 percent cutback in inventories held by manufacturers and a 0.1 percent drop in wholesale inventories. Inventories held by retailers rose 0.2 percent in September.Inventories are closely watched as signals of business confidence. When businesses are reducing their stockpiles because they are worried about future sales, it can further depress overall economic growth.The overall economy slid at an annual rate of 0.3 percent in the July-September quarter and economists believe the decline in the current October-December period will be even sharper.Many are worried that the severe financial crisis has pushed the country into what will turn out to be the deepest recession since 1981-82. |
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Equities open strong but slip into red |
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Friday, 14 November 2008 06:14 |
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With US markets closing with gains overnight and Asian markets showing gains today morning, Indian equities markets opened strong today but began to slide with a key index down more than 150 points two hours into trading, revealing underlying nervousness, analysts said. Two hours into trading the 30-share benchmark sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was ruling at 9,371.50, down 164.83 points or 1.73 per cent from its previous close Wednesday at 9,536.33 points. The Sensex opened strong at 9,799.25, up 262.92 points or 2.76 per cent from its previous close on Wednesday, hit a high of 9,836.11 but then began to slide to hit a low of 9,352.41 before inching up a bit to its current value. The broader-based 50 share S&P CNX Nifty of the National Stock Exchange (NSE) also showed a similar trend and was ruling at 2818.65, down 29.8 points or 1.05 per cent from its previous close on Wednesday at 2848.45 points. The BSE midcap index was ruling at 3,240.46, down 40.81 points or 1.24 per cent from its previous close on Wednesday at 3,281.27 points. The BSE smallcap index was ruling at 3,787.50, down 25.88 points or 0.68 per cent from its previous close on Wednesday at 3,813.38 points. (IANS) |
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Struggling pound continues slide |
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Friday, 14 November 2008 03:03 |
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The pound"s dismal decline against the dollar and euro continues as fears about the health of the UK economy persist. |
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Friday, 14 November 2008 01:16 |
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How Bretton Woods reshaped the world economy |
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Japan stocks rise on Wall Street rally, G20 hopes
(AP) |
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Friday, 14 November 2008 01:01 |
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AP - Japanese stocks sprung back to life Friday, lifted by Wall Street"s gains, a cheaper yen and hopes that a Group of 20 meeting this weekend will lead to progress in taming the global financial crisis. |
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RBS to cut 3,000 jobs worldwide |
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Thursday, 13 November 2008 23:28 |
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Royal Bank of Scotland (RBS) is to cut about 3,000 jobs worldwide in the next few weeks, the BBC has learned. |
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Philippine stock index climbs 3 percent
(AP) |
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Thursday, 13 November 2008 23:15 |
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AP - Philippine shares climbed Friday, boosted by bargain hunting and the U.S. market"s overnight gains. |
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Stocks Surge After Falling To New Lows On Gloomy Reports
(Investor"s Business Daily) |
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Thursday, 13 November 2008 16:45 |
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Investor"s Business Daily - Stock markets dived to new lows and then roared back Thursday in a wild session marked by opposing views about the extent of the U.S. economic downturn. |
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Buffett"s Berkshire falls below $100,000/share
(Reuters) |
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Thursday, 13 November 2008 16:36 |
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 Reuters - Shares of Warren Buffett"s Berkshire Hathaway Inc (BRKa.N) (BRKb.N) fell below $100,000 on Thursday for the first time since October 2006, after the company revealed large unrealized losses on derivative contracts tied to the stock market"s performance.
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Wall Street in sharp rebound as market bounces off lows
(AFP) |
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Thursday, 13 November 2008 15:31 |
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 AFP - US stocks staged a powerful rebound Thursday in highly volatile trade as traders shook off grim economic news and were buoyed by a successful test of market lows hit last month.
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Post Office card contract renewed |
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Thursday, 13 November 2008 12:32 |
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Ministers announce that the Post Office will keep its £1bn contract to distribute benefits. |
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LSE 1H profit up but cancels share buyback
(AP) |
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Thursday, 13 November 2008 11:27 |
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AP - Shares in the London Stock Exchange Group PLC dropped more than 10 percent on Thursday despite the bourse reporting a 19 percent rise in half-year net profit as it also halted its 500 million pound ($746 million) share buyback program. |
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Internet shoppers get duty break |
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Thursday, 13 November 2008 10:42 |
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Internet shoppers will not have to pay customs duty on items they have bought for less than 150 euros from outside the EU. |
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Trading halted at Kuwait bourse on court order
(AFP) |
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Thursday, 13 November 2008 10:39 |
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 AFP - Trading at the Kuwait Stock Exchange, the second largest Arab bourse, was halted Thursday following an unprecedented court order aimed at curbing the market"s slide and preventing massive losses among small investors.
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Thursday, 13 November 2008 09:25 |
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Has the pound"s fall put paid to cheap holidays to the US? |
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Confusion over Kaupthing savings |
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Thursday, 13 November 2008 07:50 |
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Kaupthing Edge internet bank continued to allow transfers by existing savers after it collapsed, breaking official restrictions. |
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