Forex News More negative news coming out which may, for Asian trade, take some gloss off Wall Street's rise: Moody's has cut senior long-term debt rating on Merrill Lynch after bank's $4.7 billion 2Q loss; takes rating down one notch to A2. Merrill shares lost 9% in after-hours trade in U.S. Moody's also shows broader concern on financial sector in U.S., lowering long-term senior rating on Lehman Brothers to A2 from A1, with negative outlook; cites its expectations for further mark-to-market losses on Lehman's residential and commercial mortgage portfolios, which continue to "pose a significant challenge to the company's ability to return to an acceptable level of ongoing profitability." NZ shares are up about 0.9% but U.S. stock futures are still down about 0.6% in screen trade on slew of after-hours disappointments from key companies; several big techs (Google, Microsoft, Advanced Micro Devices) have fallen on their results/outlook, which may crimp gains in some markets in Asia. Yen has risen against USD, EUR, reflecting some risk aversion.
0 comments:
Post a Comment