Apr 11
26
DJIA edged down 0.2% or 26.1 points to settle at 12,479.9. NASDAQ advanced 0.2% or 5.7 points to 2,825.9. S&P 500 slipped 0.2% to 1,335.3
Austalian and Asian report 26th April 2011
Asian markets are trading lower this morning, affected by lower commodity prices and disappointing company updates. In Japan, shares of Nintendo and Nidec slumped, after the both the companies’ projection of net income came below market expectations. Automakers, Toyota and Honda Motor traded lower, as S&P cut its outlook for the companies to “Negative” from “Stable”, citing weaker operating and financial performance for the year ending March 2012. In Hong Kong, monetary tightening fears weighed on Chinese banks and property developers. In South Korea, Hyundai Merchant Marine lost values, after the company revealed a first-quarter operating loss of 24.1 billion won ($22.2 million), compared to a profit of 6.17 billion won a year earlier. Nikkei 225 index is trading 1.4% lower, at 9,541.0. Hang Seng index is down 1.1%, at 23,865.9, while the Kospi index is trading 0.2% lower, at 2,211.1.
International Report 26th April 2011
US markets closed mostly lower on Monday, with the S&P 500 index snapping its three day winning streak, as a slew of dismal earnings reports coupled with lower commodity prices weighed on investors’ sentiment. Consumer products manufacturer, Kimberly-Clark dropped 2.7%, as it reported a 9% fall in first quarter net profit, while technology stock, AMD retreated 0.1%, as it reported lower-than-expected profit figure for first quarter. However, Yahoo climbed 1.5%, amid news that the company may accept new ideas for its business-improvement. Among automobile related stocks, Johnson Controls declined 2.8%, as its first quarter profits failed to match market expectations.
DJIA edged down 0.2% or 26.1 points to settle at 12,479.9. NASDAQ advanced 0.2% or 5.7 points to 2,825.9. S&P 500 slipped 0.2% to 1,335.3.
Other European markets finished higher on Thursday, helped by positive company updates and broker upgrades. Akzo Nobel, up 4.0%, led chemical stocks higher, after the company reported first-quarter net income of €128 million which managed to top market expectations. Finnish steelmaker, Rautaruukki rose 5.7%, after stating that its full-year sales would rise about 25%, compared to an earlier forecast of 20% to 25%. Cement stocks, Lafarge and CRH, benefited from a review by Goldman Sachs Group which upgraded the stocks to “Buy” from “Neutral”. Shares in Italian auto maker, Fiat rose 4.5%, after the company stated that it would raise its stake in Chrysler Group by 16% in a deal worth $1.3 billion. FTSEurofirst 300 index added 0.4% to 1,142.6. German DAX Xetra 30 climbed 0.6% or 46.3 points to 7,295.5. French CAC-40 edged up 0.4% or 17.3 points to 4,021.9.
