Hot Economic News Releases

The Japanese consumer confidence improved for the sixth straight month in June, reaching its highest level in almost three years, a sign of an increase in economic recovery in the archipelago.

The index measuring the sentiment of households, which reflects their views on income and employment, reached 43.5 in June, its highest since September 2007, according to figures released Tuesday by government departments. In May, the index was at 42.8.

The government has revised upwards its opinion on the mood and now believes it is oriented towards improvement.

The index remains below 50, meaning that pessimists still outnumber optimists.

The Nikkei closed up 0.52% Friday, and closed the week on a 4% gain, its largest weekly increase in seven months.

The Nikkei index closed at 9585.32 points and the broader TOPIX, took 0.02% to 861.21 points.

Japanese stocks have benefited from renewed investor confidence, new optimism for the resumption of the U.S. economy and the euro area.

The courses have been particularly supported by the exporters, thus earning the title Canon 1.02% to 3,480 yen on expectations of a tripling of operating income to about 182 billion yen (1.62 billion euros) .

The title however Inpex has weighed on prices, registering losses of up to 14% on the session to finally close down 12.82% after announcing an equity issue of 6.7 billion dollars threatening to dilute the value of shares already issued more than 50%.

U.S. stocks finished higher on Thursday for the third consecutive session after the publication of employment data found reassuring.

The Dow Jones gained 1.2% or 120.71 points to 10,138.99 points, while the Standard & Poor's 500 took 9.98 or 0.94% points to 1070.25 points.

The Nasdaq Composite Index has advanced by 0.74% or 15.93 points to 2175.40 points.

The weekly claims for unemployment benefits fell 21,000 last week to the United States, more than expected, which has momentarily quieted concerns about a possible slowdown in U.S. economy.

Prices were also supported by the major U.S. retail chains that have posted good sales in the month of June JC Penney Co. and Abercrombie & Fitch were awarded 6.7% to 23.24% and 7.75 dollars to 35.45 dollars.

Costco Wholesale has gained 2.62% to 55.71 dollars. The number one warehouse stores reported an increase of 4% of its turnover store, which has been slightly below market expectations.

Side decreases, the values of semiconductors have been some profit taking.

"It is a context of nervousness.The investors are not eager to jump feet first into the market, "said Scott Marcouiller specialist at Wells Fargo shares Advisors in St. Louis.

Micron Technology has come a decline of 2.3% to $ 8.69. Index PHLX Semiconductor sold 0.1% after gaining over 5% Wednesday.

Apple has sold 0.2% to $ 258.09 and Intel 0.2% to 258.09 dollars also.

National Australia Bank is expected to introduce in the space of one week a new proposal to the Australian competition authorities on its bid of 11.5 billion dollars (9.13 billion euros) over the asset manager AXA Asia Pacific , a subsidiary of AXA, say three sources familiar with the matter.

NAB, which attempts to revive the business after losing the first time in April by the Australian Competition Commission (ACCC) would seek a further extension of its exclusivity few weeks from Axa to finalize its offer, added the sources.

The exclusive agreement between NAB and Axa expires July 15 and, in the opinion of the sources, Axa will extend it to allow time for competition authorities to assess the new proposal.

NAB and AXA AP have declined comment.

The ACCC had estimated in April that a merger between NAB and AXA would significantly reduce competition in the market for retail investment platforms.

To satisfy the commission, NAB may sell retail platforms AXA AP, North, for example.According to sources, discussions are underway on this with the fund manager IOOF Australia.

The Director General NAB Cameron Clyne said Wednesday shareholders that "NAB continues to evaluate its options for the approval of the ACCC's proposed purchase of subsidiaries in Australia and New Zealand AXA Asia Pacific" .

The opportunities are scarce for AXA, to the extent that the manager Australian PMI is also in the running but a recent decline in its share has reduced his ability to effectively make a competing offer, which it has yet received approval from the ACCC .

The Belgian bank insurer KBC sold its derivatives in Asia for about $ one billion, as part of restructuring promised in exchange for public assistance received during the crisis.

The buyer of Global Convertible Bond and Asian Equity Derivatives is Daiwa Capital Markets, the investment banking arm of Daiwa Securities of Japan.

The transaction will result in a strengthening of the capital of KBC and an increase of ten basis points from its Tier One ratio of liabilities to equity reported "hard".

The group, which received seven billion euros in state aid during the crisis, has agreed, in agreement with the European Commission to reduce its risky assets of 39 billion euros between 2008 and 2013, mainly by reducing its activities on financial markets and corporate lending internationally.

For its part, Daiwa seeks to develop its activities in Asia to take advantage of growth in the region after reducing its alliance in investment banking business with the Japanese bank Sumitomo Mitsui Financial Group.

KBC also said Monday it had sold to the Australian insurer QBE Insurance Secura its reinsurance subsidiary based in Brussels for 267 million euros.

QBE has made over 75 acquisitions over the last ten years to be present in 47 countries.

In May, KBC has raised 1.35 billion euros by selling its private banking arm KBL European Private Bankers to the Indian company Hinduja Group.

KBC closed the business in Japan in March. Analysts, traders and sellers of office of KBC in Tokyo have been committed by BNP Paribas.

The NYSE opened up but on a cautious note Friday after the release of monthly statistics of the labor market in the United States, which rekindled fears of a slowdown in economic recovery.

A few minutes after the start of trading, the Dow Jones gained 0.27% to 9759.21 points, the Standard & Poor's 500 index 0.44% to 1,031.86 and the Nasdaq Composite 0.34% at 2108.48.

The U.S. economy has destroyed 125,000 non-agricultural jobs in June, according to Labor Department statistics, a figure slightly higher than expected.This is the first time since the beginning of the year that the U.S. economy is destroying jobs.

Among the values sought in early trading, the "biotech" Biogen and Allergan earn more than 6% and 8% respectively after news reports that Sanofi-Aventis is preparing a major acquisition in the United States.

Technip has been awarded two contracts with BP, the British North Sea, worth a total of about 100 million pounds (120 million euros).

The first is a contract under diving, repair and maintenance for a period of three years with two additional options of one year each, said the French specialist in oil and gas equipment in a statement.

The second is a contract engineering and installation for the development of Devenick field, located 234 km north-east of Aberdeen. It covers project management, engineering, manufacturing, installation and commissioning of several lines.