Esprit stocks plunge as CEO resigned

Note: This section contains information in English only.
Source: Bloomberg
Clothing retailer Esprit Holdings Ltd. which is struggling to recoup from massive drop in profits experienced biggest drop in stock price since October 12. Esprit Holdings Ltd listed in Hong Kong lost 10.7% after its CEO Chew Fook Aun reported his resignation. Esprit shares are 71% down on a yearly basis. Chew Fook Aun explained he is leaving due to personal reasons.

 

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Tue, 06 Dec 2011 08:00:55 GMT

Aussie and Kiwi decline on interest rate cut and S&P warnings

Australian dollar dropped against all of his main counterparts as the Reserve Bank of Australia lowered benchmark borrowing costs by 25 b.p. for a second consecutive month. Australian dollar lost 0.9% against US dollar reaching $1.0181 in Sydney trade. New Zealand's currency also depreciated after Standard & Poor's placed 15 euro-area countries on watch negative. Kiwi gave up 0.5% against US dollar to $0.7761.

Tue, 06 Dec 2011 07:26:18 GMT

US stocks edge up despite S&P announcement

On Monday US shares closed higher as Italian PM proposed austerity measures and investor confidence rose ahead of European summit. Dow Jones Industrial Average gained 0.7% or 78.41 points and closed at 12,097.83. S&P 500 Index added 1% or 12.80 points to 1,257.08. Nasdaq Composite Index surged 1.1% or 28.83 points reaching 2,655.76.

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