U.S. Indexes Mixed, Gains in Asia

123jump.com Staff
15 Jul, 2010
New York City

The U.S. stocks closed mixed after Intel reported better than expected results. Tech stocks in Europe and Asia rallied on the back of Intel results. Retail sales fell and import prices dropped in June. Growing confidence lifted indexes in China region and Australia.

[R]4:45AM New York – The U.S. stocks closed mixed after Intel reported better than expected results. Tech stocks in Europe and Asia rallied on the back of Intel results. Retail sales fell and import prices dropped in June. Growing confidence lifted indexes in China region and Australia.[/R]

U.S. stocks gain after Intel reported encouraging quarterly sales. U.S. retail sales fell 0.5% and import prices dropped 1.3% in June. BP stalls well integrity test after U.S. presses for additional analysis. U.S.-based Zumiez discontinues talks to acquire Canadian-based West 49

Align Technology, Inc. led gainers in the S&P 500 index with a rise of 8.3%. Yum Brands profit slips but sales and margins grow. California Pizza shares up 5% on hiked forecast. CommVault shares lose 21% on weak earnings. Del Monte trims sales view on promotion spending

The European markets pared six sessions of gains after financial stocks declined. German Chancellor Angela Merkel says credible fiscal consolidation vital for self-sustaining growth. Euro-zone inflation eases to 1.4% and industrial output rises 0.9% in May.

The UK indexes fall after a decline in commodities stocks. The BoE policy maker Andrew Sentance urges hike in interest rate and Haldane notes financial services productivity gains may be a mirage. The UK jobless claims fall by 20,800 and consumer confidence dips in June. BP postpones well integrity test.

Stocks in Japan gained on Intel’s results and earnings outlook in the nation. Sapporo Holdings is planning to buy a recognized beer brand in North America. Sumitomo Metal says nickel deficit will widen in the year. Komatsu, the maker of earth movers, gains after raising its full year profit.

China region indexes gained. Power consumption grows at a slower pace in June. Zijin Mining agrees for further investigations to find causes for leak. Shougang Corp is close to buying Tonghua Iron & Steel Group.

Stocks in Mumbai lost and turned negative in the last session. The benchmark wholesale price index jumps 10.55% in June. Essar Power agrees to acquire Navbharat Power. Entertainment World Developers is planning an IPO. Piramal sells its diagnostic unit to Super Religare. NTPC is planning to buy coal mines overseas.

Stocks in Australia traded higher on rising consumer confidence and the economic update by the government. Australia delays approval for Santos project by three months. Coal shipments reach record levels in June from Hay Point port. Arrow Energy shareholders approve the takeover offer from Royal Dutch and PetroChina.

Asian Markets Review

The Nikkei 225 Index in Tokyo closed higher 258.01 or 2.71% to 9,795.24, Hang Seng index in Hong Kong increased 129.75 or 0.64% to 20,560.81 and CSI 300 index in China higher 19.02 or 0.72% to 2,653.61. ASX 200 index in Australia increased 82.10 or 1.87% to 4,462.40. The FTSE Bursa KL Composite index in Malaysia closed higher 8.21 or 0.62% to 1,341.08.

The Kospi Index in South Korea increased 22.93 or 1.32% to close at 1,758.01. SET index in Thailand closed higher 2.19 or 0.27% to 819.54 and JSE Index in Indonesia increased 19.55 or 0.66% to 2,981.06. The Sensex index in India decreased 47.74 or 0.27% to 17,938.16.

Europe Markets Review

In London FTSE 100 Index traded lower 40.38 or 0.77% to 5,230.64, in Paris CAC 40 Index decreased 22.16 or 0.61% to 3,615.60 and in Frankfurt DAX index traded lower 8.20 or 0.13% to 6,182.93. In Zurich trading SMI decreased 16.07 or 0.26% to 6,282.52.

Commodities, Bonds and Currencies

Yields on 10-year bond increased to 3.1% and on 30-year bonds were unchanged to 4.09%.

The U.S. dollar closed at $1.27 to a euro and against the Japanese yen rose to 90.74 yen.

Immediate futures prices of Texas crude oil closed at $76.66 a barrel, for natural gas at $4.35 per mbtu.