Aug 10
10
International Market Report 10th August 2010
The benchmark Nikkei dropped down 0.3% or 28.01 points to close at 9,545, the Topix lost 0.4% to close at 853.82. The Dow was 45 points higher at 10,698, with the Nasdaq up 17 points closing at 2,305. The S&P 500 advanced 6 points to close at 1,127.
In June, German exports surged confirming a revival in Europe’s largest economy after a severe recession. Germany posted strong growth in Q2 but the extent of the rebound wasn’t clear until the release of the latest trade data, which showed a 3.8% rise in exports from May and a €14.1bn trade surplus. Freddie Mac is now seeking $1.8bn (£1.1bn) in aid from the US Government after bad home loans caused its fourth consecutive quarterly loss. Freddie Mac, which is the second largest provider of funding for US residential mortgages, has reported a loss $6bn, in the April-to-June period. The company will be required to pay a 10% annual dividend to the Treasury Department on money it has received from the government.
Due for release today is the JPY BOJ Press Conference, CAD Housing Starts, USD FOMC Statement, USD Federal Funds Rate and CNY CPI y/y.
