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Market Update

Pending Home Sales Index Worries; Stocks Fall

123jump.com Staff
05 Jan, 2010
New York City

Stocks in New York fell after housing market worries resurfaced. European markets closed lower and German unemployment was unchanged in December. Google launches its wireless phone as more users access Internet from their phones.

German Unemployment at 8.1%; Weak Markets

Mayank Mehta
05 Jan, 2010
New York City

European markets closed lower in light trading. German unemployment rate was unchanged in December at 8.1%. BNP Paribas unit plans covered bond issue. Airbus hopes A400 million negotiations will be concluded by the end of January. Vinci SA unit buys Keolis stakes in four French airport operators.

UK Stocks: Balfour, Premier Oil, Next Plc

Mayank Mehta
05 Jan, 2010
New York City

Nestle SA says no plan to make or participate in Cadbury plc offer. Next celebrates Christmas sales surge. Balfour Beatty Gammon wins

Aegean Marine, Las Vegas Sands Rise; Kraft Falls

123jump.com Staff
05 Jan, 2010
New York City

Kraft and Cadbury declined after the revised offer from Kraft was rejected by the UK chocolate maker. Tenet Healthcare increased on a recommendation from a broker. China based casino operators increased on the hopes that China will relax travel rules. Aegean Marine surges after a deal.

Kraft's Cadbury Bid Faces Hurdles

123jump.com Staff
05 Jan, 2010
New York City

Kraft revised its offer for Cadbury ahead of regulatory deadline in less than two weeks. The offer of $16 billion has 20% more cash than the previous offer but is still at least 5% below the price that most investors are seeking. Kraft sold its frozen pizza division to Nestle for $3.7 billion.

Cold Weather Drive Higher Energy Demand, Prices

123jump.com Staff
05 Jan, 2010
New York City

U.S. stocks traded lower as gasoline and crude oil futures advanced. Freezing weather from Beijing to Miami has driven up the demand for energy around the world.

China Manufacturing Expands; Property Worries

Mayank Mehta
04 Jan, 2010
New York City

China region stocks closed mixed. Shanghai stocks gained and Hong Kong stocks decreased. Manufacturing expanded in December according to separate reports. Real estate developers declined after Shanghai tightened home purchase rules.

Yen Drops, Tokyo Exporters Automakers Rise

Mayank Mehta
04 Jan, 2010
New York City

Stocks in Japan closed higher as the yen declined to a 4-month low. Exporters and automakers led the gainers. Toyota and Honda target small car market in India as the market is expected to expand to 3 million vehicles in five years. JAL surged after a bank doubled its credit limit to $2 billion.

Woodside to Replace PetroChina in Browse Project

Mayank Mehta
04 Jan, 2010
New York City

Australian stocks edged higher. A rally in metals and energy prices helped stocks on the first day of trading. Deputy Prime Minister Gillard asked more time for police investigation after a killing of young Indian student. Australia has still not solved hundreds of attacks on India students.

Manufacturing Expands; World Stocks, Oil Rise

123jump.com Staff
04 Jan, 2010
New York City

U.S. indexes closed up more than 1.5% after a rally in energy and metals. Manufacturing indexes in the U.S., China and India showed expansion. Emerging markets rallied with resource linked economies leading. The benchmark index in Brazil closed above 70,000.

Valero, Tesoro, Chesapeake, Bucyrus Rise

Mayank Mehta
04 Jan, 2010
New York City

Energy related stocks gained after a rally in natural gas and crude oil. Total SA investment in Chesapeake Energy controlled energy field also helped the sector. Deutsche Bank

European Indexes Advance to 15-month High

Mayank Mehta
04 Jan, 2010
New York City

European indexes traded near fifteen month high as resource stocks lead the gainers. Energy prices rose after record low temperatures in the U.S., China and Korea. European investors

Metals, Energy Rally Lifts UK Stocks; Cairn Up

Mayank Mehta
04 Jan, 2010
New York City

UK stocks edged higher as metals added to the gains of the last week. Manufacturing index increased in December and mortgage approvals expanded. Gilts held firm ahead of rate and bond program decision this Wednesday.

India Growth at 7.5%; Reliance Raises $575 M

Mayank Mehta
04 Jan, 2010
New York City

Stocks in India gained on the expectations of faster economic growth in the current fiscal year and expanding manufacturing sector. Reliance Industries raised $575 million to purchase LyondellBasell Industries in a second sale of treasury stocks. Exports increased 18% in November.

Novartis Offers $39.3 Billion for Alcon Stake

123jump.com Staff
04 Jan, 2010
New York City

Novartis agreed to acquire Alcon Inc for additional $39.3 billion. The Swiss pharmaceutical giant will pay $28.1 billion to gain 52% stake from Nestle and $11.2 billion to minority share holders. The two-tier price offered by Novartis may not go well with independent directors at Alcon.