123jump.com Staff
05 Aug, 2008
New York City
Stocks in Shanghai and in Hong Kong fell sharply on the weakness in financial stocks and export worries to the U.S., the largest market for Chinese products. The benchmark indexes fell 2.5% in Hong Kong and Shanghai. Weak results from banks dragged financial stocks lower. Export Import Bank of China reported that non-performing loan ratio declined to 1.8% from 2.4%. Bank of East Asia interim profit declined 52% on losses related to credit markets.
123jump.com Staff
05 Aug, 2008
New York City
U.S. stocks rose sharply before the rate decision and extended their gains after the Fed left its key rate unchanged at 2%. The Fed suggested in the accompanying statement that economy is likely to remain weak for the rest of the year as credit remains tight, energy prices are at elevated levels and weakness in housing market persists. The Fed suggested that while commodities prices are high and are likely to remain volatile but inflation is likely to fall in the coming quarters.
123jump.com Staff
05 Aug, 2008
New York City
Stocks in Japan edged lower as futures of crude oil and base metal prices declined. Paper, rubber and transportation companies rose but stocks of commodities trading and refining companies fell. In merger news, Orix and Credit Saison are exploring merger to form the largest non-bank financial company in Japan with asset of 11 trillion yen. Steel companies stocks fell on the worries that demand may decline in the second half of the year.
123jump.com Staff
05 Aug, 2008
New York City
Stock benchmark in Mumbai surged 2.6% on a drop in crude oil and metal prices for the second day in a row. Auto stocks led the gainers in the session with Maruti Suzuki rising 8.4% and Tata Motors adding 3.7%. Bank and real estate companies stocks closed higher on the expectations of financial reforms that will allow foreign investors to increase their holding in insurance companies and banks. ACC and Ambuja Cements rose more than 5%.
123jump.com Staff
05 Aug, 2008
New York City
U.S. stocks edge higher in the morning trading after a drop in crude oil and agriculture commodities. Crude dropped 1% to $119 a barrel and cocoa, corn and soybean lost another 2%. Copper and lead in New York trading lost 4%. In earnings news, Procter & Gamble reported better than expected earnings. Asian markets closed lower and European markets edged higher at mid-day.
123jump.com Staff
04 Aug, 2008
New York City
Weak crude oil futures, agriculture commodities and metal prices dragged stocks lower in the U.S., Europe and Latin America. Crude dropped as much as 5% and most agriculture commodities fell between 3% and 7%. Gold, copper, silver and zinc dropped as well. Energy complex stocks fell as worries related to hurricane subsided. HSBC first half profit declined and in Japan Nissan and Olympus reported weaker than expected earnings.
123jump.com Staff
04 Aug, 2008
New York City
Stocks in Tokyo fell on global economic worries and weak earnings from Nissan and Olympus. The benchmark index Nikkei 225 fell 1.2% on weak commodities, auto and financial stocks. Nissan reported first quarter revenue fell 4% to 2.3 trillion yen and earnings declined 43% to 53 billion yen, despite a rise in unit sales of 7% to 936,000. Earnings at Olympus fell 63% to 6.5 billion yen on a fall in domestic sales of 13.5% to 84 billion yen.
123jump.com Staff
04 Aug, 2008
New York City
TNK-BP chief financial officer Owen quits as shareholders continue to battle for control of the company. In London trading stocks fell on weak commodities and metals prices. Crude oil fell 1% in the session and base metals prices declined. Of the 102 FTSE 100 index stocks, 49 rose, 52 declined, and 1 was unchanged. Thomson Reuters led advancers in the index shares with a rise of 4.5% and Kazakhmys led decliners with a loss of 10%.
123jump.com Staff
04 Aug, 2008
New York City
Stocks in Shanghai and Hon Kong fell sharply after the global markets worried persisted in trading. Benchmark indexes in Hong fell 1.5% and in Shanghai dropped 2.4%. Service industry index rose 1.2% in July on rising construction activities ahead of the Olympic Games in Beijing. HSBC operating revenue fell 2% and earnings in the first half dropped 29% on 58% rise in loan loss provision in the period. Stocks of shipping lines and steel makers fell on the expectations of weak demand.
123jump.com Staff
04 Aug, 2008
New York City
Stocks in Mumbai trading fell, following a weak trading in the region. Elevated crude oil prices, persistent worries related to the U.S. economic health and rising inflation in India kept investors on the sidelines. Total trading on the BSE and NSE fell 10% to 20,000 crore rupees. Grasim Industries led the gainers in the benchmark Sensex index with a rise of 3.5% and TCS led the decliners with a fall of 2.6%. Cement stocks gained, despite a price freeze and weak demand in the current quarter.
123jump.com Staff
04 Aug, 2008
New York City
U.S. stocks fell after the release of June personal income, spending and savings data. The income in the month rose 0.6% but after adjusting for inflation fell 1.9%. Personal savings rate hovered near a low 2.5%. The PCE price index, a measure of prices paid by consumer rose 4.1% from a year ago and may increase in the coming months. Church & Dwight and Humana rose after the release of earnings.
123jump.com Staff
01 Aug, 2008
New York City
A rise in unemployment, elevate crude oil prices and general worries related to the U.S. economy kept sellers in command. Unemployment in July rose to 5.7% from 5.5% in June and service sector along with manufacturing shed jobs. In earnings news, General Motors lost $15.5 billion in the quarter as it struggled with falling sales and strike at its plants in the quarter. IAEA approved unanimously a deal to inspect India''s civilian nuclear program. Brazil, Argentina and European markets drop.
123jump.com Staff
01 Aug, 2008
New York City
UK manufacturing index in July dropped to a decade low as domestic orders fell the most in nine years. Separately, corporate insolvencies rose 15% from a year ago in the second quarter. British Airways first quarter plummeted 90% to
123jump.com Staff
01 Aug, 2008
New York City
Positive comments from the President Jintao lifted stock market averages in Hong Kong and Shanghai. His comments appeared pro growth, lifting stocks in the banking and industrial sectors. China reported urban unemployment dropped in the first half to 4%. Hong Kong in the first fiscal quarter ending in June reported a deficit of HK$16.5 billion and in June of HK$10.8 billion.
123jump.com Staff
01 Aug, 2008
New York City
Stocks in Japan closed lower after weak earnings from Sumitomo Mitsui Financial Group and NEC disappointed investors. For the week, Nikkei 225 index fell 1.8% and in Friday trading lost 2.1%. SMFG reported net income decline of 51% to 58 billion yen as ordinary income declined 5% from a year ago. NEC Corp reported net income fell 50.4% to 483 million yen and revenue decline of 0.7%. Commodities and financial stocks fell in the session.
