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Market Update

Hartford, Lincoln National Surge; TARP Approval

123jump.com Staff
15 May, 2009
New York City

Six insurers surge after they were approved for emergency funding by the Treasury. Hartford Financial led the surge among six insurers followed by early gains in Prudential, Principal, Ameriprise, All State and Lincoln National.

Machinery Orders Lift Tokyo Stocks; Acom Surges

123jump.com Staff
15 May, 2009
New York City

Stocks in Tokyo edged up and for the week closed higher. Latest machinery orders indicated a sharp surge in overseas orders but the government forecasted weak sales in the current quarter. Sanyo Electric, Sony and Acom gained after the earnings release.

Mumbai Stocks Surge; CPI Falls

123jump.com Staff
15 May, 2009
New York City

Stocks in Mumbai gained. Consumer price index declined in March but above 8% on higher food prices. Congress party suggested that it can form the next government without the help of Communist party. Banks surged on the comments from the RBI governor.

Calm European Markets; Richemont, Aegon Gain

123jump.com Staff
14 May, 2009
New York City

Markets in Germany and France closed nearly flat. Richemont surged 6% after it reported better than expected earnings. Aegon NV soared 6.4% after it reported lower than expected net loss. SAB Miller and offered cautious outlook and Generali net plunged 89%.

U.S. Banks, Insurers Rally, Europe Follows

123jump.com Staff
14 May, 2009
New York City

Investors bid up regional banks and insurance companies a day after stocks fell in these sectors. Jobless claims rose in the previous week and producer prices gained in April on higher food prices. Techs rallied and after the close Nordstrom beat earnings views.

UK Stocks Rebound; BT Dividend Cut

123jump.com Staff
14 May, 2009
New York City

UK stocks attempted a rebound after brokers recommended banks and mortgage lenders. Royal Mail returns to profit after heavy cost cuts. ITV revenues decline and look for more cost savings. Invensys surges on an increase in orders and a dividend hike. National Grid looks for rate hike.

China Stocks Edge Lower; Tencent Surges

123jump.com Staff
14 May, 2009
New York City

Stocks in Hong Kong and Shanghai fell after markets in the region tracked the losses in the U.S. and in Europe. Banks, electronics contractors and energy companies led the decliners. Tencent Holdings surged 10% and Foxconn declined 5%.

CME, MBIA Rise; Aegean, MGM Mirage Fall

Mayank Mehta
14 May, 2009
New York City

Mylan led the decliners in the S&P 500 index of 3.8%. Kohl

Australia Tracks Lower Metals; Leighton Drops

123jump.com Staff
14 May, 2009
New York City

Investors in Australia focused on the recent slide in metals prices. Fairfax Media dropped on rating downgrade. Leighton Holdings declined after nine month profit was cut in half.

Exporters Fall Hard in Tokyo; Sony Loss

123jump.com Staff
14 May, 2009
New York City

Stocks in Tokyo were hit hard after the unexpected fall in monthly U.S. retail sales. The recent rally of stocks was already losing its steam as investors are increasingly turning cautious. Sony, Inpex, NEC Electronics declined but NTT Group gained after the release of earnings.

India Inflation Falls; Election in Focus

123jump.com Staff
14 May, 2009
New York City

Election fever and a prospect of uncertain outcome overshadowed the trading sentiment in Mumbai. Banks and software exporters declined. Shipping lines gained on a rise in freight rate index. Wholesale price index increase dropped below 0.5%.

Pacific Basin, PetroChina to Raise Capital

123jump.com Staff
13 May, 2009
New York City

Investors in Hong Kong and in Shanghai struggle to gauge the durability of China stimulus plan. Companies in China are looking to raise capital as companies in Europe, Asia and U.S. race to repay debts. Pacific Basin Shipping and PetroChina tap investors.

Weak Opening in Sydney, GrainCorp Up

123jump.com Staff
13 May, 2009
New York City

Stocks in Australia to open lower on weak U.S. retail sales. GrainCorp Ltd lifted its annual earnings outlook on higher export tonnage for commodities. In the previous session, stocks traded sideways as commodities prices edged lower and speculators focused on BHP Billiton and Rio Tinto.

Weak U.S. Retail Sales, Earnings in Europe

123jump.com Staff
13 May, 2009
New York City

Stocks in New York declined on economic data and in Europe on weak earnings. April sales in the U.S. fell dampening investor sentiment. Earnings were mixed in Japan. More companies are looking to raise capital to repay debts as MGM Mirage filed to raise $2.5 billion.

European Markets Down; Allianz, Lagardere Fall

123jump.com Staff
13 May, 2009
New York City

European markets declined as cautious investors stayed on the side lines. Allianz SE dropped 8% on first quarter net income of near breakeven and Lagardere SCA plunged 7% after revenues declined 2%. Air France-KLM Group declined 6.5% after it reported April traffic decline of 2.8%.