Stock market fixing:
Nikkei 225 +290.38 +2.2% 13,603.31
Topix +29.22 +2.2% 1,332.57
DAX 30 -95.39 -1.46% 6,440.70
САС 40 -60.75 -1.38% 4,347.99
FTSE 100 -87.60 -1.61% 5,362.30
Dow -283.10 -2.43% 11,349.28
Nasdaq -45.77 -1.97% 2,280.11
S&P -29.65 -2.31% 1,252.54
10YR -1.3200 -0.318% 4.016%
NYMEX Crude Oil +1.05 +0.84% 125.49
Gold -0.10 -0.01% 922.70

Japan's stocks rose a third day as the stronger dollar and a drop in oil prices sparked optimism Japanese companies' overseas sales will weather a global slowdown.
Sony Corp. surged the most in seven weeks as the dollar rose to the highest in a month. Toyota Motor Corp. advanced after crude oil traded near a seven-week low, while oil explorer Inpex Holdings Inc. sank to the lowest in four months. Mitsubishi UFJ Financial Group Inc. led banks higher after U.S. lawmakers approved a rescue plan for embattled mortgage lenders Fannie Mae and Freddie Mac.
Sony added 3.9%, the biggest jump since June 2. Honda Motor Co. advanced 3.8%, the most since June 16. Toyota jumped 5.1%.
Inpex, Japan's largest oil and gas explorer, sank 5.5%, the lowest since March 21. Closest rival Japan Petroleum Exploration Co. dropped 1.5%.
Mitsubishi UFJ added 2.2%, the highest since June 19, and Orix Corp. climbed 5.8%.

European stocks fell after German business confidence sank the most since September 2001 and forecasts from Daimler AG and EasyJet Plc sent carmakers and airlines lower.
Daimler tumbled 9.6% after cutting its profit forecast. EasyJet dropped after saying earnings will slide as much as 46%. ABB Ltd. slumped the most in four months as the world's biggest builder of electricity grids posted earnings that missed analysts' estimates. BHP Billiton Ltd., the largest mining company, retreated to the lowest since April as metals declined.
Business confidence in Germany, Europe's largest economy, declined the most since the Sept. 11 terrorist attacks in 2001, signaling growth is faltering. The Ifo institute said its business climate index fell to 97.5 from 101.2 in June. Economists expected a drop to 100.1, based on a survey.
Renault SA lost 3.4%. Ford Motor Co. of the U.S. also fueled the declines in automakers after posting a second-quarter loss of $8.7 billion.
EasyJet fell 10% after saying fiscal-year pretax profit will slump as much as 46% because of higher fuel expenses.

Dow tumbles more than 100 points as investors jeer huge losses from carmaker, a sharp rise in initial jobless claims and a sharp decline in existing home sales.

The National Association of Realtors reported that sales of homes by homeowners fell 2.6% to a lower-than-expected 4.86 million annual rate in June. The economy has slumped as home sales continue to decline, because American homeowners have lost much of their purchasing power, leading to a decline in consumer spending.
Also driving down stocks was a report from the U.S. Labor Department that said new unemployment claims rose much more than expected last week. New applications filed for jobless benefits rose by a seasonally adjusted 34,000 to 406.
Furthermore, the struggling U.S. automaker Ford reported a huge $8.7 billion net loss for the second quarter. The third largest automaker by sales said it would restructure its North American product line to include more of the fuel-efficient vehicles, as rising gas prices have severely hampered consumer interest in big trucks and SUVs. Shares of Ford fell 6% in early trading.
Internet retailer Amazon.com , posted better-than-expected second-quarter earnings after the market's close Wednesday. Amazon also boosted its 2008 revenue projections, as CEO Jeff Bezos said high gasoline prices may be luring shoppers to its Web site.

The euro suffered fresh falls after a raft of weak data out of the region suggested that the economy is faltering rapidly.Data showed that both the manufacturing and services sectors in the area is shrinking, highlighting that a recession is now a real possibility. The euro zone Purchasing Managers Index for services slipped to a five year low of 48.3 in July from 49.1 in June. Euro zone manufacturing activity also slumped, falling to 47.5 from 49.2 in June. Both figures were below expectations.
At the same time, a key survey from Germany, the Ifo index also came in weaker than expected. The Ifo research institute said its July business climate index fell to 97.5 from 101.2 in June, dropping below analysts' forecasts of a decline to 100.0. The figure for June was revised down from 101.3.
Separately, the pound also fell prey to weak data, this time on the state of UK retail sales which suffered a massive slump in June. Retail sales in the UK plunged in June by their biggest amount since records began in 1986 but inflationary pressures, particularly within food, continue to mount, official figures showed today. The office for National Statistics said retail sales in June dropped by 3.9%.
Later dollar came under pressure after U.S. home resales dropped to a 4.86 million annual rate in June, the lowest level in a decade, from a 4.99 million pace the prior month.

EUR/USD printed high on $1.5712 before retreating to $1.5630. Later rate rebounded to $1.5680/90.

GBP/USD tested lows around $1.9810 before rate rose to $1.9870.

USD/JPY failed to break above Y108.00, spurring correction to Y107.30.

Today’s focus on US data, including Durable goods orders, new home sales and Un Michigan consumer confidence index.
The Commerce Department will today report sales of new houses dropped to an annual pace of 503,000 from 512,000 in May, a separate survey of economists shows.