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Market Update

Lower Land Prices in Japan; Aiful Plunges 27%

123jump.com Staff
18 Sep, 2009
New York City

Consumer finance companies faced selling after Aiful plunged 27% and sought restructuring of 280 billion yen loans. Financials closed lower. Real estate companies declined after Japan reported sharpest decline in land prices in a year ending in June.

Australian 3-Day Rally Halts, Dollar Firms

123jump.com Staff
18 Sep, 2009
New York City

Australian stocks edged lower after three days of gains as resource stocks firmed in the week. Crude oil futures have surged more than 27% in the year and gold has one-year high and silver is trading at multi-year high. Retailers and banks generally closed higher.

Michigan Leads with 15.2% Unemployment

123jump.com Staff
18 Sep, 2009
New York City

Michigan led the nation with unemployment rate of 15.2% followed by Nevada, California and Rhode Island. The unemployment rate increased 3.5 percentage points to 9.7% in last one year to August.

Global Markets Settle; Jobless Recovery

Mukesh Buch
18 Sep, 2009
New York City

U.S. stocks advanced as dollar traded near recent lows and gold, silver, copper and crude oil declined. Consumer stocks and cyclical led the gainers in weak trading. Michigan led the nation in August with unemployment rate of 15.2%. UK deficit in August soars and euro-dollar bonds issuance rises.

Eurodollar Bonds Sales Rise; Total Cuts Capacity

Mayank Mehta
18 Sep, 2009
New York City

European government issued dollar denominated bonds as dollar weakens. The weekly issuance surged this week to $21.7 billion. German producer prices in August increased 0.5% on the rise in energy costs. Total SA workers threaten strike ahead of refinery capacity closure in France.

Pound Drifts Lower on UK Record Deficit

123jump.com Staff
18 Sep, 2009
New York City

The pound fell and is likely to trade weak as UK struggles with rising cost of bank bailout and falling tax receipts. UK government debt surged to 57.5% of GDP and is likely to surpass 60% by the end of fiscal 2010.

British Land, Blackstone Deal; UK Stocks Weak

Mayank Mehta
18 Sep, 2009
New York City

The pound fell early 0.5% after the UK government reported record August deficit. Lloyds is looking to exit government insurance program. Ashmore increased after net annual earnings decreased 18.3%. British Land Company sold 50% stake in Broadgate office complex to Blackstone.

Vivus, InterOil, SanDisk Surge; Huntington Falls

Mayank Mehta
18 Sep, 2009
New York City

Huntington Bancshares dropped more than 10% after it completed secondary offering. Agriculture machinery makers declined. Canada based InterOil surged after it discovered natural gas field at lower than previously estimated depth in Papua New Guinea.

India Stocks Firm; Power Plant Orders

Mayank Mehta
18 Sep, 2009
New York City

Stocks in India edged higher but barely. Infrastructure companies lead the gainers as more power plant orders are awarded. Raymond Limited, the textile conglomerate plans to develop housing complex in north Mumbai.

Steelmakers in Japan Surge; Rates on Hold

123jump.com Staff
17 Sep, 2009
New York City

Steelmakers in Japan surged after JFE Holdings was reported to start a second steel mill next month. Banks fell for the fifth day in a row on the worries that the government demand loan moratorium for small businesses. Japan left its key lending rate at 0.1% and direct loan program intact.

Reliance in India Raises $670 Million

123jump.com Staff
17 Sep, 2009
New York City

Stocks in India traded near their recent highs as infrastructure and banks edged higher. Reliance sold 1% stake in the company to raise $670 million. Bharti-MTN merger talks face dual listing structure. The latest read on wholesale inflation showed an increase of 0.12%.

Retailers, Banks Rise Second Day in Sydney

Mayank Mehta
17 Sep, 2009
New York City

Australian stocks traded higher as investors bid up global stocks and commodities gain around the world. Australian dollar edged to another yearly high against the U.S. dollar. Banks and retailers gained as the imminent prospect of interest rate hike look dim.

Natural Gas Plunges 8%, U.S. Stocks Waver

123jump.com Staff
17 Sep, 2009
New York City

U.S. stocks edged lower after the release of housing construction data and weekly jobless claims. Home builders advanced. Natural gas plunged 8% as rising inventories and the recent price run up kept investors on the sidelines.

EU Exports Jumps 4.1%; Airbus Production Cut

123jump.com Staff
17 Sep, 2009
New York City

European markets edged higher as investors show willingness to acquire more stocks. Airbus is likely to cut production for the next two years. Trade surplus at EU-16 nations increased to

Allied Irish Surges; Balfour Beatty Acquisition

123jump.com Staff
17 Sep, 2009
New York City

UK stocks closed at a new high after gaining for the fifth day in a row. Retail sales were flat in August after rising for two months in a row. Balfour Beatty plans to raise