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Market Update

Banks Rise in Europe; ING Divestments

123jump.com Staff
10 Apr, 2009
New York City

Banks in Europe closed higher on the back of positive sentiment in New York trading. Speculators were quick to tie the gain in earnings at Wells Fargo with the banking sector health and drove bank stocks higher. ING plans to divest as many as ten businesses to raise upto 8 billion euros.

China Surplus Rebounds; China Pacific Net Falls

123jump.com Staff
10 Apr, 2009
New York City

Stocks in Shanghai trading closed higher on the speculation of rate cut. Exports declined in March but trade surplus more than tripled from February. Exports in the month fell 17% but imports declined 25% lifting the trade surplus to $18.6 billion. China Pacific Insurance net income plunges.

Tokyo Stocks Up, Sumitomo Mitsui Loss

123jump.com Staff
10 Apr, 2009
New York City

Stocks in Tokyo closed higher in a listless trading. Banks declined after Sumitomo Mitsui reported its largest loss in six years and proposed to raise 800 billion yen in public offering. Ship liners gained on a rise freight rate index.

Banks Surge, Nasdaq Soars 3.9%

123jump.com Staff
09 Apr, 2009
New York City

Banks rallied on the hopes that Wells Fargo higher earnings estimate bodes well for others in the industry. The sharp rally in New York was broad and lifted tech stocks index 4%. Retailers reported another weak monthly sales in March and smaller gains at discounters. Textron soared on buyout rumors.

Wells Fargo, Nordstrom, Excel Marine Surge

123jump.com Staff
09 Apr, 2009
New York City

Banks rallied sharply after Wells Fargo estimate of the first quarter earnings of 55 cents a share. Retailers traded broadly lower after reporting another weak monthly sale in March. Warehouse retailers surprisingly reported weak performance.

Barclays Sells iShare Unit for $4.4B

123jump.com Staff
09 Apr, 2009
New York City

Barclays Plc sells its successful iShare unit for $4.4 billion or

UK Inflation Slows, BoE Holds Rate

123jump.com Staff
09 Apr, 2009
New York City

Bank of England keeps rate at 0.5% and will continue

India Inflation Index Falls, Food Prices Surge

123jump.com Staff
09 Apr, 2009
New York City

Despite a plunge of 73% in foreign direct investment in February, India still managed to receive $25.4 billion in investment in the first eleven months of the current fiscal year. Inflation in the last week in March fell to 0.26% but food prices surge. Essar Oil surges on Kenyan refinery investment.

China Auto Sales Surge, HK Stocks Gain

123jump.com Staff
09 Apr, 2009
New York City

Stocks in Hong Kong surged on the optimism that economic stimulus will revive the growth. The larger than expected economic package in Japan also lifted stocks in Asia. March auto sales surged 10% on the government subsidies to 772,400 on 40% increaese in minivan demand.

Australian Unemployment Rises

123jump.com Staff
09 Apr, 2009
New York City

Statistics Bureau of Australia reported today that the number of unemployed persons in seasonally adjusted terms surged 24.7% from a month earlier, but soared 33.3% from a year ago to 612,000 in March. Total number of employed people declined 5% from February to 10.792 million.

ConAgra Foods Q3 Earnings Call Transcript

123jump.com Staff
09 Apr, 2009
New York City

The packaged food company reported net sales rose 6% to $3.1 billion from $2.9 billion in the quarter. Net quarterly income declined 37.5% to $193.2 million from $309.1 million. Earnings per share slumped to 43 cents from 63 cents in the year-ago quarter.

Tokyo Stocks Surge on Stimulus of 15.4 T Yen

123jump.com Staff
09 Apr, 2009
New York City

Stocks in Tokyo surged after ruling party proposed to spend 15.4 trillion yen to arrest the widening recession and falling domestic demand. Nearly 40% of the budget is targeted at long term projects. Investor sentiment was also boosted by 1.4% rise in private sector machinery orders in February.

Morning Rally on Wells Fargo Outlook

123jump.com Staff
09 Apr, 2009
New York City

U.S. stocks rallied after Wells Fargo reported better than expected earnings. Jobless claims rose above 600,000 for the fifth moth in a row. Trade deficit in February declined as imports plunged.

Insurers Lineup at U.S. Treasury

123jump.com Staff
08 Apr, 2009
New York City

U.S. Treasury appears to be ready help insurance companies as government deepen its reach into corporate America. The life insurers have been clamoring for the aid but are quite on executive compensation conditions. UK GDP declined at a faster rate in the first quarter.

UK GDP Falls 1.6%, Pernord Ricard

123jump.com Staff
08 Apr, 2009
New York City

Auto stocks in Germany rebounded. UK stocks fell as the first quarter GDP estimate showed a deeper decline than in the fourth quarter. UK GDP decline in first quarter was estimated at 1.6%. Banks in Ireland declined after a rating agency lowered its view. Pernord Ricard to raise 1 billion euros.