Stock market: Wednesday results.[E]

Closing:
Nikkei -288.85, (-1.90%) 15,096.01
FTSE 100 +36.5 (+0.60%) 5706.30.
DOW -71.80 (-0.65%) 10,930.34
NASDAQ -11.00 (-0.51%) 2,151.78
S & P 500 -7.99 (-0.63%) 1,255.86
10YR -5/32 5.02% 100 25/32

Japan stock indexes set on Wednesday for its lowest close in a six months average on speculations of further Fed rate hike.
The exporters sector showed main losers Sony Corp. And Honda Motor Co. Investors worry that high borrowing costs will negatively affect activity of consumers of the largest export market of Japan. Sony, the largest world manufacturer of consumer electronics lost 2.2 %, and Honda - 2 %. In the prior financial year 55 % went abroad on the markets of Northern America.
Canon Inc., the largest world manufacturer of digital cameras, has lost 1.2 %, and Komatsu Ltd., the second manufacturer in the world of the heavy building equipment - 6.5 %. The market is afraid, that economic growth delay will negatively affect construction of habitation.
Besides decrease in a rating of the company by analysts KBC Securities was also valuable.

Europe stock exchange: the market could return some part of lost gains during prior two sessions.
The information on huge M&A supported market.
GlaxoSmithKline Plc shares lifted after highlighted Pfizer Inc. intention to the companies division.
Inmobiliaria Colonial SA, dealing with habitation, climbed after data on itтАЩs sale for $5 bln. Nestle SA ?? E.ON AG, leaded in sector of so-called protective shares, - the companies which incomes almost not depend on economic growth data.
CAC 40 added 0.6 %, FTSE 100 +0.6 %, DAX +0.8 %.

The USA Stock market again closed in a red zone.
From the bell the main indexes tried to compensate the losses suffered during two last sessions. Investors showed interest to the fallen shares.
Remind that sales were supported by Ben Bernanke speech on concern of inflation rate and hinted on further rate hike by the end of June. Oil decrease to $71/barrel and data on huge M&A gives the main support for a market.
New York Times highlighted that Pfizer has received an offer on itтАЩs divisions sale producing such products as Listerine, Rolaids ?? Sudafed for $14.
Among buyers тАУ British pharmaceutical companies GlaxoSmithKline and Reckitt Benckiser, and American Johnson and Johnson.
The main indexes felt depressed after Fed Bank of Atlanta President Jack Guynn commentaries. Despite good shape economy characteristics, growth of productivity can lower inflationary pressure and in a case that forecasts are true that current FED policy is close to optimum.
Guynn has noted growth of inflation that becomes the reason for anxiety that can testify that FED will raise the interest rate at the nearest meeting.
By the end of trade day indexes couldnt retrace from the session minimum.
Blue chips made the main losses.
Nasdaq gains appeared not much better as growth of biotechnological, transport and retail sectors appeared insufficient against an influential semi-conductor segment.
The given sector dropped despite S.I.A. forecast increase on growth of sales of microprocessors in 2006 from 9 % up to 9.8 %. Intel Corp (INTC 17.39) dive today on 2.3 % to a 52-week minimum.
NYMEX light sweet crude future with expiration date in July traded near $71.05/barrel.
Trade volumes: NYSE 1.53 bln. shr; Nasdaq - 1.63 bln.