Japan’s ANA shares drop on report airline to raise $1.9 billion in share sale
💋Video games developer was among top 30 core Topix gainers, rising 4. ANA does not expect its home market to recover for two years, and has forecast decline in international travel to last until 2024 Like other big global airlines ANA has been making cost cuts, including pay reductions, to cope with a coronavirus-driven travel slump. Other tech shares followed suit, with heavyweight Corp and Tokyo Electron climbing 3. But while many other airlines have been deferring widebodied plane deliveries to safeguard their finances, ANA has opted to stick with its pre-pandemic 787 orders from Boeing. The 225-issue Nikkei average of the Tokyo Stock Exchange snapped a four-session winning streak and sank 211. Some other large-cap growth shares were bruised by profit-taking, with both and Hoya losing 2. As part of Japan's latest measures to rein in its highest surge in COVID-19 infections yet, Tokyo on Wednesday urged restaurants and bars to shorten their operating hours until mid-December and residents to stay indoors as much as possible. 31, its highest closing level since April 1991. The 225-issue Nikkei average of the Tokyo Stock Exchange finished up 8. Updated: 27 Nov 2020, 07:59 PM IST Reuters• The largest percentage gainers in the index were online game publisher up 7. Some of those may be configured with fewer business-class seats, Nakahori said, because ANA expects a quicker rebound in leisure travel. Of the 14 million shares it plans to issue, ANA said it will offer a quarter to overseas investors. Airlines around the globe are struggling to ride out a pandemic that has cast a dark shadow across the global travel industry. Although Japan hasn't been hit as hard as the United States and Europe, its travel industry is suffering. It says the 787, which is smaller than other widebody models, will be a cost effective alternative to bigger planes that may struggle to make money even after the coronavirus crisis ends. Nishikawa also counts Mitsui and Mitsubishi among the winners, while he expects Sumitomo to continue to struggle until the next fiscal year, having taken write-downs and warned of its worst annual loss on record. 8 billion in subordinated loans to replenish its cash reserves. ANA picked Nomura Holdings and Goldman Sachs Group as two of the global coordinators for its first share offering since 2012, sources earlier told Reuters. ANA Holdings will hold its first share sale since 2012, Reuters reported on Saturday, citing two sources who declined to be identified because the information was not public. Economy Minister Yasutoshi Nishimura said medical resources in parts of Japan are becoming strained and the next three weeks would be critical to stopping the spread of infections. Sentiment was also fuelled as U. Japanese shares closed at a more than 29-and-a-half-year high on Thursday, as tech shares tracked overnight advances on the U. Berkshire has said that it could raise its stake in any of the five companies up to 9. ANA does not expect its home market to recover for two years, and has forecast the downturn in international travel to last until 2024. Sentiment was also supported by other Asian peers and e-mini futures, which was last up 0. While many other airlines have been deferring widebodied plane deliveries to safeguard their finances, ANA has opted to stick with its pre-pandemic 787 orders from Boeing• The market opened on a weak note, but quickly reversed course as tech-related shares advanced and investors snapped up bargains, supported by the tech-heavy Nasdaq closing 0. Listing Last Change Volume 6902:TYO 5,733. 98, the highest closing level since April 17, 1991, after rising 353. Only Mitsubishi remains substantially higher — with a 7. 37, reaching another 29-year high. As of Tuesday, Itochu and Sumitomo have given up all or most of their gains since the announcement. It also speaks to the challenges for a Japanese equity market heavily weighted toward so-called value shares, with the benchmark Topix Index on track to lag the MSCI AC World ex-Japan Index for a fifth straight year in 2020. stimulus package and progress in a COVID-19 vaccine, but gains were capped by some profit-taking after a strong November rally. This story has been published from a wire agency feed without modifications to the text. On Wednesday, the key index rose 13. The carrier last month forecast a record operating loss of 505 billion yen for the year to March 31. Reporting by Rocky Swift, Editing by Sherry Jacob-Phillips. There were 101 advancers on the index against 118 decliners. 97, edging near a two-year peak touched last Friday. Recommended• politicians put forth a flurry of proposals on coronavirus relief packages after a month-long partisan standoff. 2 billion in shares to fund 787 jet purchases 1 min read. ANA declined to identify the coordinators. The benchmark 225-issue Nikkei average on the Tokyo Stock Exchange finished up 13. 9 billion by selling new shares to bolster its balance sheet. 98, its since April 1991, extending its bull run after U. TOKYO Reuters - Shares of Japan's ANA Holdings Inc on Tuesday sank as much as 4. Upstream giants have slashed their workforces as the pandemic persists, with some in the industry believing the era of demand growth is already over. Only the headline has been changed. 8 billion in a share sale to strengthen its finances. 30, citing inflation hedging and securing carry trade spreads as reasons. Telecommunications, precision instruments and electric appliances were among the top sectoral performers on the main bourse, up between 1. -China ties and energy policies, the shares will likely struggle until the U. Nasdaq, but worries over latest coronavirus restrictions at home hindering economic recovery capped gains. The August announcement, among the largest investments ever made by Buffett in Japan, not only sparked a rally in stocks, but also boosted overall investor interest in the trading companies. "On routes to Europe and the United States we flew the Boeing 777, but after the coronavirus, rather than 777 capacity, the 787 is going to be a better size," ANA Senior Vice President Kimihiro Nakahori said at a press briefing. The company said in a statement on Tuesday that nothing has been decided on new share sale. Elsewhere, the Mothers Index of startup firm shares ended 0. Dozens of liquefied natural gas export projects are seen delaying investments in the wake of the demand slump caused by the virus and as Europe intensifies its call for decarbonization. 82 billion for the year through March 31 due to the pandemic. Historians describe the Nomonhan Incident, a little-known 1939 Japan-Soviet border conflict, as the starting point of World War II.。 。 。
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