The New York equities markets were down on the day Wednesday as new government data revealed slower than expected retail sales and weak industrial production numbers.

The Dow Jones Industrial Average fell 0.5 percent to 10,544.90, the Nasdaq composite was down 1 percent to 2,149.33, and the S&P 500 lost 0.3 percent to 1,227.16. In the airlines sector, amid more talk of imminent bankruptcies, Northwest Airlines added 19 percent but Delta Air Lines dropped another 9 percent.

Retailers were mostly down on the day. Hardware retailer Loew’s dropped 2.2 percent to $65.99, while Target was off by 2.7 percent to $52.75. Bedding retailer Linens ’n Things, however, saw a gain of 8.9 percent to $28.25 on reports that it has called in advisors and is thinking offering itself for sale.

Elsewhere, internet search engine Google was to begin selling $4.4 billion in new shares, with the goal of building a fund that might be used on new acquisitions, after the close of the trading day. In advance of the offering, Google’s shares dropped 2.8 percent to $303.00 on the day. Among gainers was investment bank Lehman Brothers, which added 1.3 percent to $113.75 after it announced that its quarterly profits were up by 74 percent.

On the London equities markets on Friday, the FTSE 100 gained 0.3 percent to 5,359.3 and the FTSE 250 was up 0.5 percent to 7,851.1. These results capped a week in which the FTSE 100 added 0.6 percent and the FTSE 250 advanced by 0.8 percent.

Most attention during the week had to do with mergers and acquisitions. Industrial gasses specialist BOC Group and rival Linde of Germany were said to be close to a merger deal, keeping BOC close to record high levels at £11.16.

Retailer Tesco lost 0.7 percent to 329¼p on rumors that it was interested in buying Albertson’s, second only to Wal-Mart in the US. Support services company Rentokil, being pursued by Sir Gerry Robinson, lost 0.2 percent to 163¼p.

Elsewhere, housebuilders were up. McCarthy & Stone, the UK’s biggest builder of retirement homes, gained 5.1 percent to 602p on the announcement that this year’s sales would not be down as much as it had earlier estimated. This news helped Westbury up by 2.6 percent to 450½p, while George Wimpey added 2.6 percent to 425¾p.

The New York Equities markets were down slightly on Thursday after big gains on Tuesday and more subdued gains on Wednesday, as the market seems to have been proceeding on the assumption that the economy will benefit from the aftermath of Hurricane Katrina rather than decline due to disruptions and dislocations.

Most analysts are betting that in the wake of the storm rebuilding will benefit the economy, interest rates will stop rising, and oil prices will go down. Others are not so sure that this will be the case.

The Dow Jones Industrial Average dropped 0.4 percent to close the day at 10,595.93, the Nasdaq composite lost 0.3 percent to 2,166.03, and the S&P 500 declined by 0.4 percent to 1,231.68.

Homebuilders were generally down on the day, with Hovnanian leading the decline after reporting earnings that fell below predictions. Hovnanian fell by 6.7 percent to $57.49. Elsewhere in the sector, KB Homes declined by 1.6 percent to $74.69, Lennar fell 2.4 percent to $60.95, and Toll Brothers lost 3.3 percent to $47.25.

Coca-Cola Enterprises dropped 9.6 percent on the news that it had reported less-than-positive earnings guidance. Discount retailer Sears Holdings fell by 5.2 percent to $127.81 on earnings that were below expectations. EBay lost 3.8 percent to $38.93, bringing its decline for the year to 34 percent and making it one of the S&P’s worst performers.

On the other hand, Apple gained 2.3 percent to $59.78 as it presented its new iPod for mobile phones.

The equities markets in New York were up sharply on Tuesday after the Labor Day holiday. The Dow Jones Industrial Average gained 1.4 percent to 10,565.12, the Nasdaq composite was up 1.2 percent to 2,166.86, and the S&P 500 advanced by 1.3 percent to 1,233.40.

For the S&P, it was the largest percentage rise in a day since April 21. Every sector within the S&P saw gains on the day, with the real estate and retail sectors each up by over 2.3 percent.

Even the energy sector was up 0.7 percent. The energy sector did not see gains across the board as Dynergy fell by 3.1 percent to $4.36, but Valero Energy gained 0.9 percent to $109.41.

Among retailers, Dollar General was up 1.2 percent to $18.41, Target gained 1.5 percent to $53.96, and Wal-Mart, which had been declining recently on the effect of high oil prices and the concerns they raised about consumer spending, added 2.6 percent to $45.69. Still, Wal-Mart remains off its highs of the past year by 21 percent.

Elsewhere, Home Depot was up 3.4 percent to $41.71 on the belief that the need for rebuilding and repairs after Hurricane Katrina would increase sales for the home improvement retailer. In another sector affected by the storm, Tenet Healthcare fell by 0.6 percent to $11.93 as it continued to evacuate patients and staff from six hospitals in the region.

In the Tokyo equities markets on Friday, the Nikkei 225 closed at another four-year record high, gaining 0.7 percent to 12,600.00, while the Topix index was up 0.4 percent to 1,282.79.

Real estate and retailing led the gains, with sector-wide gains of 1.2 and 1.3 percent respectively. Real estate was still benefiting from news that housing starts in Japan were at a seven-year high, while retailers saw gains due to announcements by individual companies.

In the real estate sector, developer Mitsui Fudosan gained 0.6 percent to ¥1,455, while Mitsubishi Estate was up 1.2 percent to ¥1,374.

In the retail sector, Seven & I Holdings, Asia’s largest retailer, announced that it will take full ownership of its US subsidiary 7-Eleven, gaining 4.8 percent to ¥3,520. In addition, supermarket chain operator Uny added 0.85 percent to ¥1,312 on the news that its annual net profit nearly tripled due in large part to debt forgiveness.

On the other hand, the banking sector fell by 0.7 percent on rumors that regulators want to make it simpler for the government to sell preferred shares in large banks for common stock.

The New York equities markets were mixed on Thursday as more bad news from the hurricane zone came in as well, on top of several items of negative data on the economy.

While the S&P 500 was up slightly to 1,221.59, the Dow Jones Industrial Average lost 0.7 percent to 10,459.63 and the Nasdaq composite was down slightly to 2,147.90.

Among the reports released during the day were those showing that consumer spending was up by 1 percent in July, while personal income was up only 0.3 percent and personal savings was at negative 0.6 percent, the lowest level in the 46 years the government has been keeping statistics. Another report showed manufacturing activity down in August.

Energy stocks did especially well on the day. XTO Energy was up 2.4 percent to $40.77, Valero Energy gained 2.8 percent to $109.50, and ExxonMobil added 2.97 percent to $61.68.

Among retailers, Costco gained 0.5 percent to $43.18 and Wal-Mart was up 0.3 percent to $45.09 on a 3.3 percent rise in sales, but Target lost 1.8 percent to $52.78 even though it reported an increase in sales of 6.3 percent.

One of the biggest gainers on the day was in the pharmaceutical sector, as Chiron gained 17.81 percent to $42.93 when Novartis offered $4.5 billion to purchase the rest of the company. Novartis gained 1 percent to $49.19.

The effects of Hurricane Katrina began to be felt on the New York equities markets on Tuesday, a combination of soaring oil prices, news of damage to the infrastructure in the areas affected that will cost insurers billions of dollars, and closures of retailers in the region hit by the storm.

Not even a report of increased consumer confidence in August helped much. The Dow Jones Industrial Average fell 0.5 percent on the day to close at 10,412.82, the Nasdaq composite lost 0.4 percent to 2,129, and the S&P 500 closed down 0.3 percent to 1,208.41.

All areas of the transport sector felt the effect of high oil prices. Delta Airlines, which was already near bankruptcy, lost 5.5 percent to $1.20 as the Amex airline index fell 3 percent to 46.75.

Ground transport was not immune either, as United Parcel Service fell 1.1 percent to $70.42 and rail freight company CSX declined by 1.7 percent to $44.85.

Insurers and reinsures dropped as damage estimates in the hurricane zone rose. Hartford Financial Services lost nearly 0.3 percent to $73.15, while American International Group declined by 0.4 percent to $59.28. Retailers and restaurants were down on the day, with many of them suffering closures in the storm-affected areas.

Wal-Mart lost 1 percent to $45.19 after it said that 123 of its stores had been closed due to the hurricane. Jewelry retailer Tiffany lost 2.6 percent to $33.31. Office supply chain Staples lost 2.9 percent to $21.85.

The oil sector, on the other hand saw substantial gains. Refiner ConocoPhillips was up 2.1 percent to $64.41, while oilfield services company Halliburton saw the value of its shares rise 3.5 percent to $59.84.

The Tokyo equities markets did better on Tuesday as they gained back the ground that they lost on Monday. The Nikkei 225 gained 1.2 percent to 12,453.14 and the Topix index was up by 1.2 percent as well, to 1,273.60.

The iron and steel sector did well, gaining 3.9 percent, while the shipping sector gained 1.5 percent. Nippon Steel gained 5.2 percent to ¥321, while JFE added 4.6 percent to ¥3,200. Shipper Nippon Yusen was up 1.5 percent to ¥696.

The transport equipment sector as a whole gained 1.3 percent, and Toyota, one of Japan’s biggest exporters and the second largest automobile manufacturer in the world, was up by 2.2 percent to ¥4,550.

In the pharmaceuticals sector, Eisai was up 1.2 percent to ¥4,160 after an announcement on Monday that it was ready to take its experimental drug aimed at treating sepsis to the next level of testing.

The financial sector also did well. Banking group Mizuho gained 4 percent to ¥619,000, while securities house Nomura added 2.2 percent to ¥1,521.

On the losing side, supermarket chain Eco lost 5.7 percent to ¥1,084 when it said it would probably take losses in the first half of the 2005-2006 fiscal year due to low sales, which it blamed on heavy competition.

The Tokyo equities markets were up on Friday, but investors seemed to be waiting for more evidence that the economy is recovering before making too much of a commitment.

They also looked to be concerned about the continuing trend up in crude oil prices and indications that the September 11 elections might result in no clear majority.

Thursday figures were released that showed export volumes are lower than last year, and on Friday there was news that Japan is still in the midst of mild deflation.

The Nikkei 225 was up 0.3 percent to 12,439.48, while the Topix index gained 0.35 percent to 1,272.46.

Losers on the day included Fast Retailing, which lost 9.1 percent to ¥8,180 on its first day of trade on the Nikkei index, but the decline was small in comparison to its gains after it was announced that it would be added to the Nikkei.

Also down on the day was Sumitomo Realty Development, which fell 0.4 percent to ¥1,388 as the real estate sector as a whole declined by 0.6 percent.

The iron and steel sector was up, however, by 1.1 percent, as Nippon Steel gained 1 percent to ¥310 on higher demand.

Ferro-alloy maker Nippon Denko gained 9.05 percent to ¥446 on a tripling of its first-half net profit due to higher prices on its products.

The New York equities markets closed up on the day Thursday, but the gains they made were nearly cancelled out when oil prices rose once again during the day.

The Dow Jones Industrial Average gained 0.2 percent to 10,450.63, the Nasdaq composite was up 0.3 percent to 2,134.37, and the S&P 500 added 0.2 percent to 1,212.40.

The biggest gain of the day came from heating and air conditioning manufacturer York International, which gained 36 percent to $56.79 after auto parts supplier Johnson Controls offered a takeover bid. Other companies in the sector also rose.

Lennox International added 5.8 percent on the day to $24.48, while American Standard rose by 2.9 percent to $44.88. Elsewhere, Six Flags gained 11 percent to $7.26 after it said it would seek outside buyers in an effort to turn back an effort by one of its investors to take over the company.

In the automobile manufacturing sector, Ford and General Motors both fell after Moody’s cut their debt ratings to junk status after the close of trade on Wednesday. Ford dropped 1 percent to $9.82, while GM lost 0.5 percent to $34.09.

Chain retailers Lowe’s and Best Buy did well on the day. Home improvement company Lowe’s was up 2.1 percent to $64.19, while home electronics retailer Best Buy added 2.9 percent to $46.75.

Japanese equity markets were down on Thursday as investors manifested concerns about high oil prices and the recent strong gains in shares of companies dependent on domestic demand.

The Nikkei 225 was down 0.8 percent to 12,405,16, while the Topix index fell by 0.6 percent to 1,268.06. Sectors that do most of their business domestically fell the most on the day.

Banking was down 2.05 percent and real estate fell 1.5 percent, while services were down 0.95 percent and securities declined by 1.1 percent.

One of Japan’s largest securities firms, Daiwa Securities, were down 1.9 percent to ¥733. However, Japan’s largest securities company, Nomura, did go up by 0.4 percent to ¥1,515.

In the real estate sector, developer Mitsui Fudosan lost 2.2 percent to ¥1,406.

Shoe wholesaler and retailer ABC Mart was up by 11.4 percent to ¥4,879 on stronger than expected sales and an increase in its forecast of net profits.

Toymakers Takara and Tomy, which will merge next year, were both up, by 8.8 percent and 6.6 percent respectively.

The Tokyo equities exchanges were down Wednesday morning amid profit-taking after earlier gains.

The Nikkei 225 fell 0.24 percent to 12,441.31, while the Topix index lost 0.35 percent to 1,267.59.

The steel sector as a whole lost 0.9 percent, and Nippon Steel lost 1.3 percent to ¥310.

Other sectors that saw losses included the insurance sector, down by 1.5 percent, the securities sector, which lost 1.2 percent, and the real estate sector, which declined by 1.1 percent.

The banking sector, which was a victim of profit taking before the other sectors, only fell by 0.3 percent.

There were sectors that saw gains, including retailers, which gained 0.1 percent, and the sea transport sector, which was up by 0.7 percent.

In the shipping sector, Mitsui OSK Lines gained 1 percent to ¥822 on a positive share outlook from UBS.

Camera maker Nikon lost 2.1 percent to ¥1,340 when Merrill Lynch lowered its rating from “buy” to “neutral”, saying that the company has neared its share price target and it cannot see any reason to raise that target.

Meanwhile, discount chain retailer Aoyama Trading gained 0.2 percent to ¥2,940 on the Osaka equities exchange.

In Tokyo on Friday, equities markets were down on profit taking even while they remained close to four-year highs and with no real evidence that they had been affected much by global economic worries. The Nikkei 225 lost 0.1 percent on the day to 12,291.73 and the Topix index was down by 0.2 percent to 1,250.50.

The automobile manufacturing sector fell by 0.3 percent as a whole, with Toyota down 0.7 percent to ¥4,360.

The steel sector, up most of the week on strong worldwide demand, was down by 0.9 percent. Nippon Steel lost 1.3 percent to ¥305.

Retailers were down as well, by 0.6 percent as supermarket chain Ito-Yokado lost 1.3 percent, to ¥3,930.

Machinery sectors were down, as well, with the precision machinery sector down by 1.4 percent and the general machinery sector falling even father, by 0.6 percent.

There were gainers on the day, as two vehicle-related companies anticipated technological advances. Mitsubishi Motors gained 3.5 percent to ¥147 on reports that it will launch its first electric vehicles in 2008 rather than in 2010 even though the company denied those stories.

Fuji Heavy Industries, which makes Subaru automobiles, announced that it would debut a vehicle using a lithium battery in the 2007-2008 model year. The announcement sent shares in the company up 3.7 percent to ¥500.

Wall Street saw little movement at all on Friday as both the Dow Jones
Industrial Average and the Nasdaq composite stayed all but unchanged on the day, and the S&P 500 saw only a slight gain.

The Dow closed flat at 10,559.23 as did the Nasdaq, ending the day at 2,136.73. The S&P gained 0.1 percent to close at 1,219.71. Over the week, all three indexes ended on the losing side, as the Dow fell by 0.4 percent, the Nasdaq dropped 1.0 percent, and the S&P declined by 0.9 percent.

Several sectors saw declines on the week. While computer maker Hewlett Packard saw a gain of 10.2 percent on the week to $26.49, others in the sector were not so successful. Gateway dropped 16.8 percent to $3.17, Dell lost 0.6 percent to $36.41, and Apple Computer declined by 0.6 percent as well, to $45.83.

Clothing retailers had a rough time of it as well. Gap lost 8.7 percent on the week, while Hot Topic fell 14.1 percent to $14.12. Both were down on disappointing quarterly reports. On the winning side, Six Flags was up by 18.8 percent to $6.45 on the week after its largest investor said that he wanted to triple his investment in the company.

The New York equities markets were mixed but generally lower on Thursday on light trade volumes and concerns about crude oil prices as one analyst said that since September 11, 2001, investors have had one thing after another to worry about.

At the close of the trading day, the Dow Jones Industrial Average was very close to its Wednesday close at 10,552.46, while the Nasdaq composite lost 0.4 percent to 2,135.99 and the S&P 500 settled down by 0.1 percent to 1,218.72.

One of the biggest gainers on the day was Six Flags, the amusement park operator, which gained 18 percent to $6.48 when it’s largest investor announced that he wanted to triple his amount of shares in the company.

While Google announced that it will issue 14.2 million shares of its class A stock for sale, said to be worth around $4 billion, the internet search company’s shares were down 1.8 percent on the day to $279.99.

In the retail clothing sector, meanwhile, J. Crew announced that it will launch an initial public offering to raise $200 million. Elsewhere in the sector, Gap released its quarterly earnings report. In response, its shares lost 1.6 percent to $20.15.

Hot Topic, which sells teenage clothing, cut its forecasts for the third and fourth quarters after falling short of expectations in the second quarter. It lost 10.6 percent on the day to close at $14.14.

New York equities markets were up at the end of the session on Wednesday, helped by good performance in the computer and chip making sector and falling oil prices.

The Dow Jones Industrial Average gained 0.4 percent to 10,550.71, the Nasdaq composite also rose by 0.4 percent, to 2,145.15, and the S&P 500 was up by 0.1 percent to 1,220.24.

Hewlett-Packard gained 13.2 percent to $26.82 on news that the company has seen sales and profits rise above expectations under its new chief executive. HP’s performance helped other computer companies and chip makers to rally as well.

Dell was up 0.6 percent to $36.92, Apple gained 2 percent to $47.15, and Gateway was up 5.5 percent to $3.28 even though it announced on Monday that it was cutting its revenue and profits estimates for the full year.

Meanwhile, the fall in oil prices provided investors with a psychological, as one analyst commented, but didn’t do much good for the oil companies themselves. Chevron, for example, was down by 1.4 percent on the day to $59.84.

Fashion retailer Abercrombie & Fitch lost 3.9 percent to $58.85 on a quarterly earnings report that showed it had not reached analyst estimates. Merrill Lynch warned that retail stocks could fall well into September as high oil prices and rising interest rates affect consumer spending.

Uncertainties about high oil prices that are affecting consumer prices in the US sent equities markets in Tokyo down on Wednesday.

The Nikkei 225 was down 0.3 percent at the close to 12,272.12, while the Topix fell 0.2 percent to 1,250.10.

During the recent rise in oil prices, most analysts have de-emphasized the possible effect of the hikes on the Japanese economy on the theory that Japan uses much less energy than other developed nations.

Now, however, it is not just export-dependent companies that are being affected by higher oil prices. With Japanese gasoline prices hitting a 12-year high recently, there is some worry that domestic demand in other sectors will be affected.

On this worry, both retailers and the real estate sector fell by 0.4 percent on the day. Leading supermarket chain Ito-Yokado lost 1 percent to ¥3,970.

The banking sector was up, however, on continuing general optimism about the recovery of the Japanese economy even though Goldman Sachs said on Tuesday that it might lower the sector’s rating to “underweight”. Banking group Mizuho gained 0.7 percent to ¥547.000.

New York equities markets were down substantially on Tuesday, as the Dow Jones Industrial Average dropped 1.14 percent to 10,513.45, the Nasdaq composite fell by 1.38 percent to 2,137.06, and the S&P 500 lost 1.18 percent to 1,219.34.

Shares in Wal-Mart were down by more than 3.3 percent at mid-afternoon to $47.50 on the news that while second quarter earnings had risen by 6 percent , the third-quarter outlook was not as good. The world’s largest retailer blamed this assessment on rising oil prices.

Elsewhere in the retail sector, Home Depot and Staples both reported much higher sales in the second quarter. Home Depot said it experienced a 20 percent rise in sales and a same-store sales increase of 4 percent. Office goods retailer Staples also said their sales were up 20 percent in the quarter, 1 percent better than analysts thought they would do. Still, shares in both companies were down. Home Depot lost 1.4 percent to $41.04, while Staples declined by 2.1 percent to $21.85.

In the airline sector, the Amex airline index gained 3.4 percent, its first increase after 11 straight declining sessions. Delta Air Lines gained 9.4 percent to $1.52, Northwest Airlines added 10.6 percent to $4.61, and SkyWest was up 11 percent to $24.46.

In London on Friday, the FTSE 100 fell 0.2 percent to 5,345.8, but it saw a gain on the week of 0.6 percent. Meanwhile, the FTSE 250 gained 0.1 percent on Friday to close at 7,705.8, notching an 0.3 percent gain on the week. Trade volume for the day reached 2.4 billion shares.

Mobile phone group O2 traded 130 million shares on the day, gaining 2.8 percent to a record high of 149 ½p on rumors that a consortium might offer 175p to 180p per share for the company. Rumors of takeover bids have centered on Dutch group KPN, Telefonica, and Deutsche Telekom, but all the named companies have disavowed the reports.

British Airways lost 0.8 percent to 290p on their need to cancel flights due to a dispute with contractors at Heathrow airport.

Oil shares fell despite continuing advances in the price of crude oil. Royal Dutch Shell “B” shares declined by 1.1 percent to £19.23. Meanwhile, oil exploration company Burren Energy lost 7.5 percent to 756 ½p on the news that it has agreed to reduce its stake in the M’Boundi oil field and exploration rights to the Kouilou permit are in the Congo, trading 10 percent of its 35 percent interest in the concern to SNPC, the state-owned oil company in the Congo, for $35 million. Oriel Securities cut Burren’s rating to “reduce” on the appearance that SNPC was getting the concession at a discount.

Fund manager Schroders gained 2.3 percent to 898.5p on reports that it will raise over $370 million in association with China’s Bank of Communications for the first fund of their joint venture in asset management.

The Japanese equities markets were up on Wednesday on heavy foreign buying as the Asian nation’s political turmoil began to ease.

The Nikkei 225 gained 1.7 percent to 12,098.08, its highest close since April 2004, while the Topix index closed 1.8 percent higher at 1,227,85, its highest close in four years.

Foreign buyers seemed to be accepting analysts’ opinions that Japan’s political troubles will not have any significant negative impact on the economy and could in fact be a positive factor in long-term economic growth.

There was also good news on several fronts. Machinery orders were strong, corporate goods price data pointed to an end of deflation, and the Cabinet Office monthly report contained a more positive assessment of the economy.

Foreign investors were especially interested in the machinery, steel, and textile sectors. Nippon Steel gained 1.4 percent to ¥292, and textile manufacturer Unitika was up 1.3 percent to ¥531. Quarterly reports also led to increases in share values. Mitsubishi Materials was up 6 percent on the day to ¥316 on the strength of its quarterly profits, which were reported on Monday.

Japan’s second biggest property developer, Mitsubishi Estate, gained 3.5 percent to ¥1,304 on a positive quarterly report. In the chemicals sector, Showa Denko gained 6 percent to ¥299 on a tripling of profits in the first half.

Retailers were up on the day as well, on reports that the political situation could delay implementation of a hike in the consumption tax. Department store chain Mitsukoshi added 2.7 percent to ¥531.

The New York stock markets were down on Thursday on profit-taking and on reports that retail sales in the United States were generally down in July.

The Dow Jones Industrial Average fell 0.8 percent to 10,610.10, the Nasdaq composite index was down 1.2 percent to 2,191.32, and the S&P 500 lost 0.7 percent to 1,235.86.

In the retail sector, Wal-Mart was down 0.8 percent to $49.29 even though same-store sales were up by 4.4 percent in July.

The Gap was down 1.2 percent to $20.69, Limited Brands fell 2.7 percent to $24.35, and Nordstrom, which has gained nearly 70 percent in the past year, declined by 8.2 percent to $33.45.

The Gap, Limited Brands, and Nordstrom all reported lower-than-expected sales in the second quarter. The retail sector as a whole was down 2.2 percent on these results for the worst performance in a sector on the day.

Elsewhere, HSBC Holdings agreed to buy credit card company Metris, sending shares in both companies down on the day. HSBC Holdings fell 0.8 percent to $81.90, while Metris lost 2.6 percent to $14.46.

The FTSE Eurofirst hit a 38-month high on Tuesday when it closed up 0.8 percent to 1,189.43, its gains mostly on reactions by investors to positive quarterly earnings reports.

In the automobile manufacturing sector, BMW was up 1.7 percent to *39.62 ahead of its quarterly report. Volkswagen gained 0.5 percent to *44.23 and DaimlerChrysler advanced by 2.7 percent to *41.52.

In automotive-related stocks, tire maker Continental was up 3 percent to *67.22 on higher than forecast second-quarter earnings and on having kept up with full-year predictions. French rival Michelin was up 2.3 percent to *52.45.

Chipmakers were up on a report out of the United States that showed chip sales worldwide up more than expected in the first half of the year. Infineon gained 2.9 percent to *8.28, ASML added 1 percent to *14.58, and STMicroelectronics was up by 2.3 percent to *14.43.

In the retail sector, German retailer Metro gained 1.1 percent to *42.63 even though it did not meet quarterly expectations. It was still upgraded to “outperform” by WestLB, which raised its target price to *46.50 per share, up from *41.

Carrefour, Europe’s largest retailer, was up 2.6 percent to *39.77 on rumors that US retailer Wal-Mart could be getting ready to mount a takeover bid.

In London on Monday the equities markets saw small gains on the day on a fairly weak volume of 2.2 billion shares traded. The FTSE 100 closed the day at 5,290.8, a gain of 8.5 points, while the FTSE 250 added 12.7 points to close at 7,617.8.

Resurgent rumors of a takeover of fund manager Amvescap send its shares up 3.5 percent to 427p, even though a bid wasn’t sure and despite the fact that some believe that even if a bid is made, it was very possible that it would not be successful.

In the banking sector, HSBC gained 0.8 percent to 930 ½p on the strength of a report that its interim profits were up 5 percent to $10.64 billion due to moves into new and emerging markets. In addition, Standard Chartered added 1.2 percent to £11.23, Northern Rock was up 1.3 percent to 825 ½p on an increased target price, and Lloyds TSB gained 1.4 percent to 488 ½p.

Shares in oil companies were up on crude oil prices that were up at least partly on the news of the death of King Fahd of Saudi Arabia. BG Group gained 0.8 percent to 475 ¼p, Royal Dutch Shell’s “B” shares were up 1.6 percent to £18.35, Burren Energy added 3 percent to 788p, and Venture Production rose 6.2 percent to 462p. BP fell, however, by 0.7 percent to 625p.

Retailer Woolworths was up 1.4 percent to 37p on the announcement that it has sold its video and dvd business MVC, which had been a loser for the company.

In New York on Monday, the main equities indexes closed mixed as technology stocks did better than the blue-chips.

The Dow Jones Industrial Average was down 0.2 percent to 10,623.15, while the Nasdaq composite gained 0.5 percent to 2,195.38 and the S&P 500 was up by 0.1 percent to 1,235.35.

EBay gained 4.4 percent to $43.61 on an upgrade to “buy” from Smith Barney. Google gained 1.3 percent to $291.61, but Yahoo lost early gains to close even at $33.33.

The energy sector saw gains on the rise in crude oil prices. ExxonMobil rose 0.8 percent to $59.23, and Kerr-McGee was up 1.7 percent to $81.53.

Proctor and Gamble reported a 9 percent rise in net profits overall, and sales in its health and family division grew by 13 percent. However, because of lukewarm guidance, P&G shares fell 0.6 percent to $55.32.

Wal-Mart, which sells P&G products, rose 0.4 percent to $49.53 based on monthly sales growth figures near the high end of forecasts. Meat processor Tyson Foods fell 3.7 percent to $17.95 on a report that its second-quarter profits were lower than expected due to expenses connected to settlement costs after a lawsuit by pork farmers.

In Tokyo on Monday, equities markets reached their highest closing levels in four and a half months.

The Nikkei 225 gained 0.4 percent to 11,946.92, while the Topix index was up 0.55 percent to 1,211.61.

The gains came primarily on positive economic data and more better-than-predicted quarterly profits reports. Several reports were released on Friday and again on Monday showing Japan’s economy on the upswing.

Friday saw the release of good news on employment and industrial output, while on Monday figures were published that show both wages and the number of permanent jobs up in June.

The retail sector as a whole was up by 0.8 percent, echoed by a gain of 0.8 percent by supermarket chain Ito-Yokado, to ¥3,770.

The telecommunications sector also did well, with Japan’s largest mobile phone operator, NTT DoCoMo, showing a rise of 4.6 percent to ¥182,000 on a report that quarterly profits had risen even though revenues had fallen, with the credit going to cost-cutting measures. Another mobile phone operator, KDDI, was also up, by 6.3 percent to ¥576,000. Merrill Lynch upgraded KDDI to “buy”.

Not all stocks were up, however. Seasoning maker Ajinomoto was down 4.95 percent to ¥1,133 on a quarterly report that showed a 73 percent drop in group net profit at least partly due to higher prices for raw materials.

In Tokyo on Friday, equities markets saw declines as the yen appreciated sharply in relation to the US dollar in consequence of the revaluation of China’s currency on Thursday.

Share prices were especially hard hit among export-dependent companies. The Nikkei 225 fell 0.8 percent to 11,695.05 and the Topix lost 0.7 percent to close at 1,186.76.

The automobile manufacturing sector was hard-hit, as Toyota lost 0.9 percent to ¥4,190 and Nissan was down 1.5 percent to ¥1,145.

Additionally Sony, one of Japan’s largest exporters, lost 1.5 percent to ¥3,840.

Another factor in Sony’s decline is worry over game development for the PlayStation 3.

The troubles within export companies did nothing to help companies oriented toward the domestic market, as the retail sector declined by 0.9 percent on the day and the banking and services sectors each lost 0.5 percent.

One drag on the retail sector was supermarket chain Seiyu, which had announced earlier that it will have a net loss this year. Seiyu lost 4.3 percent to ¥202 on Friday.

The FTSE Eurofirst 500 closed at another three-year high on Wednesday as it rose 0.6 percent to 1,159.54.

The information technology sector and oil stocks were both up on the day. The success of the information technology sector, which was up 1.6 percent on the day, helped chip making equipment manufacturer ASML win back losses that had come with the news that its order’s have been below predictions. AMSL gained 2.2 percent to €14. In oil stocks, Spain’s Cepsa gained 3.5 percent to €41.09, while Statoil gained 1.2 percent to NKr146.

Results from the retail sector were not as positive. Shares in Carrefour, the world’s second-biggest retailer, were down 2.4 percent to €39.05 on a report of slow sales in the second quarter. UBS cut its price target on the retailer’s stock from €42 to €38, explaining its action by saying that there is no evidence that sales will recover. Morgan Stanley, however, kept its rating for Carrefour at “overweight”.

Other retailers also lost ground, with Casino Guichard losing 2.6 percent to €57.05, while PPR was down 1.4 percent to €83.60.

There were big losers and big gainers in the New York equities markets on Tuesday. Retailer Sears lost 8.7 percent and closed at $141.50 as it reported losses in the most recent quarter, making it one of the worst performers on the S&P 500 for the day.

In the food sector, ConAgra was down 5.4 percent to $24.50 when they warned investors that earnings will be affected by problems in its packaged-meat division. On the winning side, biotechnology company Monsanto was up 4.8 percent to $61.63 after it announcement that it was taking an equity share in Solutia, one of their bankrupt affiliates.

A notable but not as precipitous rise was the 1 percent gain for General Motors as it announced a plan to cut 25,000 jobs in the next four years. Shares in GM have declined in value by 22 percent this year. Overall, the S&P 500 fell just a bit to 1,197.36, the Nasdaq was down 0.4 percent to close at 2,067.14, and the Dow Jones Industrial Average gained 0.2 percent to 10,484.18.

The markets had rallied earlier in the day after Federal Reserve chairman Alan Greenspan’s Monday night comments to a conference in Beijing were interpreted to mean that interest rates would not be going too high in the immediate future.