*ITV, Standard Chartered shares advance. LONDON, March 4- European shares rallied in late trading on Wednesday and closed just below multi-year highs, with export-oriented stocks getting a boost following a sharp decline in the euro to an 11-1/ 2- year low against the dollar after U.S. services data. Generally a good economic number out of the U.S. is good for the...» Read More
The yen rose broadly after a fall in industrial conglomerate General Electric's quarterly earnings stoked fears about the health of the US economy, causing investors to dump riskier trades.
The dollar fell to a record low against the euro Thursday, but pared losses as European Central Bank President Jean-Claude Trichet did not drastically change his growth and inflation views for the euro zone.
Wall Street banks are the first to be blamed for the credit crunch. Central banks come a close second, but as the Federal Reserve's image is suffering, the European Central Bank looks as solid as a rock.
The dollar extended its fall against the yen Wednesday, dropping to session lows as U.S. stocks deepened losses after a surge in oil prices.
The European Central Bank's mission to fight inflation prevents it from worrying about economic weakness. But an abrupt slowdown could anger politicians and endanger the central bank's very mandate.
The U.S. dollar edged lower versus the euro on Tuesday as minutes of the last Federal Reserve meeting showed policy makers felt that a prolonged and severe economic downturn can't be ruled out.
The U.S. dollar held steady against the euro Monday in European trading at the start of a week that will see the latest interest rate decision from the European Central Bank.
For the week ending Friday, April 4, 2008 the US Markets all ended the week up over 3% or more holding on to the gains from Tueday's big rally. This is the third consecutive week of gains for the NASDAQ, something it has not had since October of last year.
The dollar fell against the euro and yen Friday in volatile trading as investors digested the U.S. March jobs report and focused on the rise in the unemployment rate.
The dollar gained against the euro Thursday after news the U.S. service sector shrank less than expected in March.
The dollar rose against the yen Wednesday, following U.S. stocks higher, as investors bet that the worst of the credit crisis may be over and grew more tolerant of risk.
The dollar vaulted higher Tuesday after major banks UBS and Lehman Brothers raised a combined $19 billion to shore up their balance sheets, boosting hopes that the worst of Wall Street's problems may be over.
European markets rallied to their highest close in a month Tuesday, as banking stocks surged after UBS reported a major writedown, giving investors hope the crisis in banks was nearing an end.
The euro came close to a record high against the dollar Monday as higher-than-forecast euro-zone price data reinforced expectations that the inflation-focused European Central Bank will not start cutting rates soon.
Business activity in the U.S. Midwest contracted in March for the second consecutive month, a report showed Monday that continued the recent run of data highlighting worries of recession.
A look at the data and happenings that shaped the first quarter for European businesses and markets.
After a dismal first quarter, investors look forward to what the spring has in store; but apart from a new gold rush and the euro rising further, there seems to be little to anticipate.
For the week ending Friday, March 28, 2008 the US Markets ended mixed after starting on a high note Monday extending last week's market rally. The winning streak came to an end on Tuesday when the Dow closing down for the first time in three sessions. The NASDAQ had the strongest performance of the week managing a positive gain despite weak earnings from Oracle and poor performance from Google . Economic data dragged on the markets with consumer sentiment and confidence at low levels and negative housing data.-Next week the markets will watch Friday's jobs report for evidence of recession, and any revisions on guidance as we move into earnings season. Alcoa kicks off "official" earnings season on Monday, April 7th after the bell. The big companies for next week all hit on Wednesday with RIM , Monsanto and Best Buy all reporting earnings.
The dollar edged higher against the euro and Swiss franc Friday, marginally supported by improving money market conditions that helped ease the impact of generally bleak U.S. economic data.
The dollar rallied Thursday after suffering steep losses in the last two sessions, rising on data showing the U.S. economy grew in the fourth quarter in line with market expectations.