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added: Tue, 27th September 2005 | 437 views | 0x in favourites
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Market news for Asia and Latin America
ADRs rose 0.99 pct Friday in up US markets. US markets rose today on Mergers and Acquisitions and strong Consumer Confidence figures.
AQuantive Inc, a strategic online advertising company, spiked 78 pct on news Microsoft was buying the company at a large premium. This is Microsoft's attempt to keep up with Google's very successful internet advertising program. In other acquisition news, GE is selling its plastics division to Saudi Basic Industries Corp.
Economic News: US Consumer Confidence in May rose unexpectedly. This increase was due to a strong jobs market and the strong stock market.
Retailer stocks jumped 1.7 pct
Bonds dropped on the strong consumer confidence data. The Japanese yen rose on the increase in Chinese interest rates, and the widening of the band within which the Chinese yuan can trade. Gold rose as the dollar continuous futures contract fell 0.15 pct. Oil futures rose 44 cents, to $65.30 per barrel.
Exxon, Yahoo, and Lowes led the S&P; 500 up, as it approaches a record high.
For the day, the Dow industrials rose 0.59 percent, the S&P; 500 rose 0.66 percent, and the Nasdaq Composite Index rose 0.75 percent. The Russell 2000 index rose 0.95 pct. Advancing issues outnumbered losing issues 8 to 7 on the NYSE. For the week, the S&P; 500 has rose 1.1 pct, the Dow industrials rose 1.7 pct, and the Nasdaq has fell 0.1 pct. (updated 5/18) For more, including week and month summaries, see World Page.
| World Stock Markets were mixed Friday. Asia was mostly down on China tightening policy and on comments by Li Ka-Sheng that China stocks were in a bubble and will be heading down. India was up slightly, supported again by strong increases in bank stocks. Europe was all up on a flurry of takeover speculation. Latin America was all up. Brazil turned down on the China news and later turned up with Mexico and Argentina. The bounce in commodities and the rise in Europe and the US helped give them a boost (updated 5/18) Hong Kong's Hang Seng stock index is down 0.43 pct. China's Shanghai Composite Index is down 0.45 pct, India's Sensex stock index is up 0.03 pct, and Japan's Nikkei stock index is down 0.57. Brazil's Bovespa stock index is up 0.86 pct. Mexico's IPC index is up 0.65 pct, Argentina's Merval stock index is up 0.68 pct, and the UK's FTSE index is up 0.94 pct. Germany's DAX stock index is up 1.44 pct. France's Cac-40 is up 1.23 pct. |
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ADRs rose 0.99 pct Friday. Regional and most individual country ADR indexes rose. China ADRs fell 0.11 pct on tightening interest rates and statement by Li Ka-Sheng that Chinese stocks were overvalued. China announced three policy moves. It raised its benchmark interest rates; it raised the bank required reserve ratio, and it broadened the trading range allowed on the yuan. Huaneng Power's ADR, popular in international mutual funds, led to the downside, dropping 2.79 pct. Mexico ADRs led to the upside, jumping 2.15 pct. Telefonos de Mexico's ADR led with a 3.44 pct jump. Germany ADRs jumped 1.89 pct, led by a 4.35 pct jump in Siemens ADR and a 3.45 pct jump in Bayer's ADR. France ADRs jumped 1.84 pct, led by a more than 2 pct jump in Total and Sanofi-Aventis. (updated 5/18) Asia stocks (ADRs) are up 0.99 pct. China ADRs up 1.84 pct, India up 1.89 pct, and Japan up 1.1. Latin America stocks (ADRs) are up 1.26 pct. Brazil ADRs up 1.11 pct, Mexico up 2.15 pct, and Argentina up 0.94 pct. Europe stocks (ADRs) are up 1.3 pct. UK ADRs up 0.17 pct, Germany down 0.01 pct, and France down 0.11 pct. |
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The BNY Composite ADR index rose 0.99 pct this week and the US S&P; 500 rose 0.95 pct, underperforming the Composite ADR. This up, but volatile week was driven by mergers and acquisitions. Friday was hit by a three-component move in Chinese domestic policy. They raised their benchmark interest rates, raised bank required reserve ratios, and widened the trading band of the yuan. Earlier in the week, Li Ka-Sheng, the richest man in Asia, commented that China stock prices were too high, surely in a bubble, and would be going down.
For the week, Regional ADR indexes were mixed. Latin America and Europe rose 4.37 pct and 1.23 pct, respectively. On the downside, Asia ADRs fell 0.77 pct.
All individual country ADR indexes were up for the week, except Japan. Brazil, Mexico, and Argentina ADRs rose 4.92 pct, 4.67 pct, and 3.59 pct, respectively. India and China rose 2.29 pct and 0.80 pct. However, Japan ADRs fell 1.22 pct. German, the UK, and France rose 1.93 pct, 1.12 pct, and 0.84 pct. (updated 05/18/2007)
ADRs for the month of April were mixed. The Composite ADR index rose 3.92 pct. The S&P; 500 rose 4.33 pct, falling above the ADR composite index. The Regional ADR indexes were mixed. The ADR index for Asia, the only regional index which fell, was down 0.28 pct for the month. This index was positive until the very last day of April, then fell into the red in the final hour of trade for the month. Latin America and Europe rose 5.62 pct and 5.18 pct, respectively.
ADR indexes for our nine core Individual Countries were all up, except for Japan. Eight of our nine core countries rose for the month. German, France, and UK ADRs rose 8.47 pct, 5.72 pct, and 3.73 pct, respectively. India and China rose 7.59 pct and 1.65 pct. On the downside, Japan fell 2.86 pct. Brazil, Argentina, and Mexico rose 6.40 pct, 2.52 pct, and 3.55 pct, respectively. (updated 04/30/2007)
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