Saturday, February 16, 2008

Financials Daily - 15th Feb 2008

US: U.S. stocks fell for the first time this week after Federal Reserve Chairman Ben S. Bernanke warned that a scarcity of credit will restrain economic growth and analysts said Intel Corp. may be hurt by slower computer sales

Europe: European stocks rose, led by Clariant AG and Cap Gemini SA, after their earnings beat analyst estimates and Japan's economy grew faster than forecast.

Asia: Asian stocks rose the most in three weeks, led by banks and technology companies, as faster Japanese economic growth and better-than-expected U.S. retail sales eased concern the two biggest economies are sliding into a recession.

Commodities: Crude oil rose to a one-month high as economic indicators from Asia and the U.S. allayed concern that a global recession is imminent. Gold futures rose after Federal Reserve Chairman Ben S. Bernanke signaled more U.S. interest-rate cuts this year, boosting the appeal of the precious metal as an alternative investment to the dollar.

Currencies: The dollar headed for the biggest weekly loss since December against the euro after U.S. Federal Reserve Chairman Ben S. Bernanke signaled the bank may cut interest rates further to avert a recession.
Source: Bloomberg

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