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Market Update

UK Stocks Fall 2%; Land Securities Plunges

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

UK stocks declined after the central bank offered cautionary outlook. Land Securities plunged after it reported weaker than expected results. J. Sainsbury annual net income increased 12%. Johnston Press plunged 38% on debt covenant issues.

MGM, Mirage, GT Solar, BankUnited Plunge

Mayank Mehta
13 May, 2009
New York City

Dr Pepper Snapple Group led gainers in the S&P 500 index with a rise of 6.4 %. Applied Materials, Inc says net losses will continue. BMC Software, Inc fourth quarter net falls. Dr Pepper Snapple Group, Inc first quarter profit climbs. MGM Mirage files to raise $2.5 billion and repay $1.7 in debt.

Hitachi Plunges; Nikon, Olympus, NTT Rise

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

Earnings outlook and global economic worries dominated trading in Tokyo. Nissan reported sales decline and net loss but estimated smaller loss in the current year. Olympus and Citizen Holdings increased after it estimated net income in the current year. Hitachi Ltd plunged 10%.

Stocks in India Decline, DLF Sells 9.9% Stake

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

Stocks in quiet trading gyrated ahead of election results and a prospect of uncertain outcome. DLF raised 3,860 crore rupees after founders sold 10% shares to investors including Fidelity, HSBC and hedge fund manager D.E Shaw & Co.

U.S. Home Sales Fall; Microsoft $3.75 B Debt

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

U.S. existing home sales declined in the first quarter and median home prices fell 14%. Trade deficit in March rose on higher energy cost. Microsoft priced its first ever debt offering of $3.75 billion. Freddie Mac reported first quarter loss of $10 billion and sought $6.1 billion from the U.S.

European Markets Fall on Fraport, Arcelor, RBS

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

European markets edged lower on a weakness in banks and industrials. Retailers in UK gained. Fraport AG and ThyssenKrupp dropped on weak earnings outlook. ArcelorMittal guided global steel sales to drop as much as 20%.

Tokyo Stocks Weken; Asahi Glass Surges

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

Stocks in Japan declined on the worries that global markets may have advanced too far. Weak outlook from Isuzu and Daiichi Sankyo also affected trading. Autos and financials declined. Hitachi reported higher than expected loss for the current year.

Alpha Natural Acquires Foundation Coal

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

Two coal miners merge to form the third largest coal company with mines in some of the coal rich areas of the U.S. The deal will strengthen both companies in negotiating with utilities and steel companies. Foundation Coal surges after the Alpha pays 37% premium.

Fluor, Massey, Ctrip, Winn-Dixie Surge

Mayank Mehta
12 May, 2009
New York City

General Motors Corporation led the decliners in the S&P 500 index of 17.3%. Air Transport Services Group Inc reports strong first quarter earnings. CDC Corporation turns to profit in first quarter. MBIA Inc posts first quarter profit after 5 straight losses.

March Trade Deficit Rise on Oil Imports

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

The U.S. trade deficit in March edged up after weakening in February. Rising energy import prices and stubborn deficit with China, EU, OPEC, Japan and Mexico contributed to the persistent deficit.

Ford, Anadarko, BofA Raise Capital

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

U.S. market indexes traded volatile as more banks and companies complete offering of stocks and debts or sell assets. Crude oil price rebounded and traded near $60 a barrel. March trade deficit increased on a rise in imported energy prices and larger decline in exports than in imports.

Stocks in India Surge; Election Optimism

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

Stocks surged on speculation that BJP led coalition is likely to lead in the parliament election. Investors are looking for a clear majority for one coalition to lead the nation and bring political stability. Banks, realty and capital goods stocks linked to infrastructure led gainers.

China Stocks Fall; Citic Bank in $1.8 B Deal

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

Stocks in Hong Kong and Shanghai dropped on a weakness in financials. China

Financials Pullback; Microsoft Debt Offering

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

U.S. stocks declined after investors pulled back from financial stocks. Five banks took advantage of recent market strengths and filed to raise capital. Microsoft is expected to price its first debt offering of as much as $3.7 billion. Markets in Europe declined on a weakness in energy and metals.

Lonmin Plunges, HSBC Rising Bad Debts

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

Stocks in UK declined after metal prices weakened and HSBC reported a rise in bad debt provisions. Lonmin plunged 10% after it offered a right issue and reported operating loss. Centrica agreed to pay