GEN: On The Fly: Morning Wrap-Up for Tuesday, July 31 - Globex SP' futures trading 5.75 above previous night's SPX cash close. Nikkei 225 17,248.89 down 0.23%, DAX 30 up 1.64%. WTI Crude oil $77.06 up 0.30%. Gold $678.50. LME Copper up 1.20%. International Financial Head Lines: Mitsubishi UFJ Financial Group-MTU, Japan's largest bank, reported 1st quarter profit fell 31% from a year ago, when the banking group booked a large special profit from the recovery of loan-loss reserves. Alcatel-Lucent-ALU, the world's biggest manufacturer of telecommunications equipment, reported 2nd quarter revenues rose 0.5% year-over year at constant Euro/USD Exchange Rate. Ryanair-RYAAY, the Irish low-cost carrier, announced 1st quarter profits increased 20% over last year. U.S. Financial Headlines: General Motors-GM 2nd quarter global market share of 13.3% compared to 13.7% in the year ago period, driven by a softer U.S. market. Dow Jones & Bloomberg.
GEN: On The Fly: Asian Markets Wrap-Up for Tuesday, July 31st - Most Asian markets were higher Tuesday, but volatile, due to the higher yen and positive earnings reports... JAPAN: Shares gained on positive earnings reports from Olympus Corp. and Mitsubishi Corp. Steelmakers sank after Japan's Fair Trade Commission said it will start an investigation into Nippon Steel Holdings (NISTY), JFE Holdings (JFEEF) and Sumitomo Metal Industries on suspicion of price fixing. Gains were also supported after the government said the nation's unemployment rate unexpectedly fell to 3.7%. The Nikkei 225 closed the market 0.2% lower, to 17,248.89 while the Topix gained 0.47%, to 1706.18 in Tokyo... TAIWAN: Taiwan's stocks rebound for the first time in five sessions as investors judged the market to be oversold. Shares also advanced after the Commercial Times reported the island's mutual funds may invest NT$100B, or $3B, into the domestic market during the second-half of 2007. The Apple Daily reported that Quanta, the world's largest maker of notebook computers, is likely to regain an order from Toshiba (TOSBF) to make notebook computers after losing the contract last year; shares of Quanta jumped 3.5% on the news. The Taiex closed 2.37% higher, to 9287.25... AROUND ASIA: India's central bank unexpectedly raised its reserve limit to 7%, up from 6.5%, to curb lending and investments. Singapore's CitySpring Infrastructure agreed to acquire Australia's Basslink electricity cable from National Grid Plc (NGG) for A$1.175B, or $1B. Data gathered from Bloomberg website.
Source: FOTW