123jump.com Staff
03 Sep, 2008
New York City
U.S. stocks edged lower as crude oil prices fell below $108 a barrel. Base and precious metals prices declined dragging stock benchmarks in Canada and UK lower. The Bank of Canada left its key rate unchanged at 3% and Australia reported weak economic data for the second quarter. Euro zone economy in the second quarter shrank at 0.2% from the first quarter and retail sale in July fell 0.4%.
123jump.com Staff
02 Sep, 2008
New York City
U.S. stocks failed to follow on early gains after a 2-day drop in oil of 10%. Weak energy and commodities sector stocks dragged benchmark indexes lower. The commodities linked economies and stock markets in Canada, Brazil and UK fell sharply. Indian stocks rallied on a sustained drop in oil as expectations of lower inflation drove indexes higher. Most banks in China reported 50% or better earnings gain in the first half, but further earnings gains are likely to be modest.
123jump.com Staff
02 Sep, 2008
New York City
Stocks in Hong Kong rose and in Shanghai fell as crude oil continued its slide for the second day in a row. Airlines and refineries rose and port operator China Merchants added 4.4%. China Merchants Holdings first half profit rose 42% to HK$2.02 billion and revenue rose 18% to HK$3.37 billion. The port operator with locations in Hong Kong and in China reported rising ocean traffic to Asia and to Europe. The company through several ventures control ports that handled 25.1 million containers.
123jump.com Staff
02 Sep, 2008
New York City
Stocks in Japan tracked losses in commodities prices and fell 1.75%. A two-day sharp fall in crude oil prices dragged oil prices down nearly 10%. Inpex Holdings led decliners in the Nikkei 225 index shares with a fall of 6.7% followed by losses in Toho Zinc of 6.2%, in Takashimaya of 6%, in Nippon Sheet Glass of 5.9%, and GS Yuasa Corp. of 5.2%. Japan is increasingly likely to head for a national election as voters demand a change and faster political actions.
123jump.com Staff
02 Sep, 2008
New York City
UK stocks struggled to close higher and pound fell for the sixth day in a row against euro and dollar. A sharp drop in crude oil prices for the second day in a row with a total loss of 10% dragged stocks in the mining and energy sectors which dominate the benchmark FTSE 100 index. UK pound fell as investors worry that economy will remain in slump for the rest of the year. Ashtead Group, the equipment rental company surged 9% after it reported better than expected sales and earnings gains.
123jump.com Staff
02 Sep, 2008
New York City
Indian stocks rose sharply with a drop in crude oil prices for the second day in a row. Oil in two days fell 10% and traded as low as $108 a barrel. Further losses are expected in the oil prices and may test $100 level in the next three weeks. Stocks responded with sharp gains. Sensex and CNX Nifty added more than 3.5%. Banks and realty stocks surged with a decline in crude oil prices. Kotak Mahindra Bank rose 10%, State Bank of India gained 7.5% and Jet Airways increased 9.6%.
123jump.com Staff
02 Sep, 2008
New York City
U.S. stocks edged more than 1% after a drop in crude oil price. The oil prices fell more than 6% after dropping 4% yesterday. Other commodities prices fell as well dragging stocks of oil and metals mining companies. Transportation stocks rose. UAL, AMR, Delta and railroad companies reached higher. The Reserve Bank of Australia cut its key lending rate by 25 basis points for the first time in seven years.
123jump.com Staff
01 Sep, 2008
New York City
Crude oil futures fell after the slow moving storm Gustav in the Gulf of Mexico was estimated to cause less damage than feared. The British pound fell to a two-year low to below $1.80 after mortgage approvals fell and manufacturing index showed a contraction. India exports in July increased 31.2% from a year ago to $16.3 billion after increasing at 23.5% in June. Japan auto sales in August declined and are likely to fall for the year, Toyota and Nissan sales fell but Honda sales increased.
123jump.com Staff
01 Sep, 2008
New York City
Hong Kong stocks fell led by technology companies after personal computer maker Dell fiscal second quarter profit slumped 17%. Aluminum Corporation of China Limited, the largest producer of aluminum said first-half revenues dropped 64.08% to Rmb3.5 billion. Net profit in the quarter declined 65.56% to Rmb2.4 billion or Rmb18 per share.
123jump.com Staff
01 Sep, 2008
New York City
Auto sales in August declined and are likely to fall for the year. Toyota, Honda and Nissan fell between 2% and 3% in trading. A day ago, Yasuo Fukuda, the prime minister of Japan resigned after months of trying to cobble a consensus on economic policites and political agenda that will lower government spending. Taro Aso is likely to lead LDP party election and may be voted as a replacement.
123jump.com Staff
01 Sep, 2008
New York City
Exports in July increased 31.2% from a year ago to $16.34 billion after increasing at 23.5% in June. Imports rose 48.1% to $27.14 billion, yielding a trade deficit of $10.8 billion. The monthly trade deficits have been hovering around $10 billion and is expected to top $120 billion for the current fiscal year. Rising crude oil prices in the month contributed to 70% of the imports. Separately, monthly unit sales of Maruti Suzuki fell 9% in August from a year ago to 59,908.
123jump.com Staff
01 Sep, 2008
New York City
The British pound fell to a two-year low to below $1.80 after mortgage approvals fell and manufacturing index showed a contraction. Base metals and precious metals prices fell in London. Crude oil prices dropped as impending tropical storm in the Gulf of Mexico weakened. Headlam Group declined 14% after it reported profit decline of 3.9%. Kenmare Resources, the titanium miner in Mozambique fell 10% after its sold $30 million in an offering.
123jump.com Staff
29 Aug, 2008
New York City
The latest report on personal spending suggested a declining trend and a weak earnings from Dell dragged tech and retail stocks lower. Starbucks, Whole Foods, Darden Restaurants, Amazon, Target, Wal-Mart fell. Dell, Research in Motion, Intel, Apple and IBM fell as Nasdaq dropped more than 1.7%. Latin American markets closed lower across the region. European markets closed higher after Commerzbank may buy Dresdner Bank for 9 billion euros.
123jump.com Staff
28 Aug, 2008
New York City
In London trading FTSE 100 rose 1.32% or 73.1 to 5,601.20. Of the 102 FTSE 100 stocks 83 rose, 18 declined, and 1 was unchanged. Sainsbury led advancers in the index shares with a rise of 7.92% followed by Wolseley increasing 5.87%. Nationwide Building Society reported today that house prices fell 1.9% from a month ago and 10.5% from the previous year to
123jump.com Staff
28 Aug, 2008
New York City
The Ministry of Commerce reported today that India
