Australian Stocks Surge 4.5%
Sep 22, 11:49 AM ET |
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| Australian stocks rallied after stocks in Asia and commodities prices gained. The U.S. bailout plan of $700 billion and Morgan Stanley sale of a stake to Mitsubishi UFJ lifted financials. Commodities stocks gained after gold, copper and zinc surged. Australia extend ban on short sales. |
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Global Surge; China, Brazil, Soar 10%
Sep 19, 5:17 PM ET |
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| Markets around the world surged on the optimism that the U.S. plan to inject capital in mortgage maket will improve liquidity. Russia Soars 29%. |
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| Stocks around the world rallied on the optimism that the U.S. plan to pump liquidity in the capital markets and purchase distressed mortgage bonds will resume normal lending activities. Regulators in the US and UK banned short selling. The move, though well intentioned appears to be motivated by the upcoming election than tacking the economic realities. Markets in Russia soared 29%, in China, Argentina and Brazil surged 10% and France and UK rose 9%. Indexes in U.S. rise 3.7%. |
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Treasury Actions Lift U.S., European Markets
Sep 19, 5:00 PM ET |
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| U.S. Treasury Secretary expanded depository insurance plan to money market funds and prepared to spend billions of dollars to purchase mortgage bonds. |
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| Stocks rallied in the U.S. and Europe after the U.S. government expanded its involvement in supporting the faltering mortgage markets and offered an insurance plan for money market fund. The government is struggling to come up with comprehensive plan to tackle the falling housing market, but so far has offered a piecemeal solution. The additional liquidity provided by the Fed of $188 billion failed to lift market confidence. |
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European Markets Surge; Financial Lead
Sep 19, 4:57 PM ET |
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| European markets surged on the optimism that the U.S. plan to buy troubled mortgage securities. |
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| Stocks in UK and Europe soar as optimism returned to the markets. UK benchmark index surged 8.9% and indexes in Paris soared 9%, in Germany scaled 5.6% and in Switzerland rose 6%. UK and US regulators banned short selling in financial stocks. The move lifted financial stocks sharply. Royal Bank of Scotland surged 31% and led gainers in the FTSE 100 index. Realty stocks closed surged on the U.S. plan to inject liquidity in mortgage market. Russian market index soared 29%. |
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Tokyo Stocks Track U.S. Gains
Sep 19, 3:44 PM ET |
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| The Bank of Japan added liquidity in the system. Financials, realtors and shippers gain. Toshiba lowers sales outlook. |
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| Stocks in Japan rose after the Bank of Japan in coordination with other central banks added liquidity in the system. The new dollar liquidity is expected to unlock inter-bank lending. Nikkei 225 index rose 3.8% after U.S. markets surged in the overnight trading on the hopes that the U.S. government will purchase troubled mortgages. Banks, shipping lines, realtors and export sensitive stocks rallied. Separately, Toshiba lowered its annual sales outlook for the current fiscal year. |
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Shippers Soar, Banks Surge in China
Sep 19, 4:55 PM ET |
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| Record one-day gain in Shanghai lifted banking and realty stocks. Shipping lines surged after freight index rose. |
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| Hong Kong, Shanghai in record one day gains. Investors stampeded after Beijing eliminated trading tax and Hong Kong added liquidity to the market. Earlier, the U.S Fed and five other central banks added $247 billion in liquidity in the global credit markets. HK Monetary Authority added $1.56 billion in liquidity. Banks in China surged. ICBC, China Construction surged 16% and HSBC added 7.5%. Property stocks scaled higher. Shipping lines surged more than 25% after freight index rose. |
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Sensex Surges 5.5%, Tracks U.S. Ganis
Sep 19, 4:59 PM ET |
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| ICICI Bank surged 11% after the company said it has adequate capital. Videocon Industries acquired oil company in Brazil. |
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| Stocks in India tracked the rebound in the U.S. and Asian markets. In the overnight trading market averages in the U.S. surged on the optimism that the government plan to inject capital in the mortgage market will improve liquidity. Banks, realty and IT sector stocks rallied. The Sensex index surged 5.5% on 3 of 2 stocks closing higher. Satyam Computer Services and ICICI Bank increased rose 10%. Reliance Industries rose 6% after the company struck oil in 8 more locations. |
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Financials Lift Australia 4.3% Higher
Sep 19, 5:37 PM ET |
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| The RBA added liquidity in the credit markets as six wealthiest nations provided short term liquidity for the dollar borrowins. Financials surge. |
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| Australia stock index surged tracking gains in the overnight trading in the U.S. markets. The Reserve Bank of Australia added A$1 billion liquidity as six other central bankers provided $247 billion in the new credit facility for the short term liquidity. The move lifted investors mood and financial stocks soared. Macquarie Group led advancers in the ASX 200 index shares with a rise of 37% followed by rises in Babcock & Brown of 25%, in Kagara Ltd of 25% and in Great Southern Ltd of 21.3%. |
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Fed, Five Central Banks; Add Liquidity
Sep 18, 4:50 PM ET |
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| The central banks in six nations acted in a coordinated move to increase dollar supply in the short term market by $247 billion. |
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| Six central banks in a coordinated move increased dollar supply in global credit markets as interbank lending comes to a grinding halt in the wake of AIG fall. The Fed led move in conjunction with central banks in Canada, Japan, UK, Europe and Switzerland will make available as much as $247 billion of liquidity. The move, though welcome by banks around the world is not likely to calm nervous investors. Separately in the UK, Lloyds TSB will acquire HBOS for 12 billion pounds. |
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Lloyds Acquires HBOS, BoE Adds Liquidity
Sep 18, 4:52 PM ET |
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| Lloyds agreed to acquire mortgage lender HBOS after its stock fall nearly 40% this week. |
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| Central banks in six countries, including the Bank of England added liquidity in the short term dollar loan market. The coordinated move led by the U.S. Federal Reserve Bank will facilitate lending between banks which has dried up since the falel of AIG and Lehman Brothers. UK also banned short sale of financial stocks to prop up banks and brokerage houses. Lloyds TSB agreed to acquire HBOS plc for 12.2 billion pounds after the lender stock nearly falls 40% this week. |
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