123jump.com Staff
30 Jun, 2008
New York City
UK consumer confidence fell to a record low on rising fuel and food prices and tighter credit conditions. Another survey of banks showed that banks estimate more than six months before credit markets will stabilize. The BoE reported that mortgage loans in May fell to 42,000 from 58,000 in April. A spike in crude oil price in London lifted energy stocks.
123jump.com Staff
30 Jun, 2008
New York City
U.S. stocks rebounded after crude oil futures fell from the intra-day record high of $143 a barrel. Corn futures fell 4%, the daily limit after the latest planting report from the USDA. The report showed 2% increase to 87.3 million acres of corn planting from its previous estimate in March. H&R Block rose after it reported profit in the latest quarter. MBIA and MGIC Investment led the decliners in the S&P 500 index.
123jump.com Staff
30 Jun, 2008
New York City
Stocks in India closed lower on continued rift within the ruling coaliition on the nuclear deal with the U.S. The ruling party coaltion may be dissolved if the Congress Party signs a deal without the approval of communist parties members. The Sensex index fell 2.5% and is now down 38% from its peak in January. Airlines stocks fell sharply on higher jet fuel prices from tomorrow. Banks closed lower after State Bank of India lowered its estimates.
123jump.com Staff
30 Jun, 2008
New York City
U.S. stocks opened sharply lower after crude oil prices reached to a record high of $143 a barrel. Transportations and auto makers declined. AMR Corp, Delta, UAL and Southwest fell. In the overnight trading Asian markets fell, tracking the weakness in the U.S. markets. European markets traded lower with another fall in Swedish and Spanish stocks. Robbins & Meyer, industrial equipment maker surged 12% after it reported earnings gain of 50%.
123jump.com Staff
27 Jun, 2008
New York City
European markets fall as worries related to losses at banks, rising inflation and stagnating corporate profits take hold in the region. The DAX 30 index in Germany closed down 19% in the first half of the year and FTSE 100 index is down 16% in the period. Ericsson fell after its mobile unit in partnership with Sony lowered its earnings outlook. Separately, Nokia declined after a broker lowered its rating and price target. Carrefour SA dropped 8% after it lowered its profit outlook.
123jump.com Staff
27 Jun, 2008
New York City
U.S. stocks declined for the second day in a row as Dow Jones, S&P 500 and Nasdaq dropped to near 20% loss from its peak in October last year. The decline in stocks is likely to continue with rising inflation, falling home values, and tighter lending standards. Second quarter earnings at the U.S. corporation are liklely to decline more than the current estimate of loss of between 9% and 11%. Asian markets in the overnight trading fell sharply.
123jump.com Staff
27 Jun, 2008
New York City
U.S. stocks traded in a tight range with no direction after losing 3% in the previous session. The U.S. decline set-off a worldwide sell-off with India and China losing nearly 5% and Brazil declining 3%. Higher losses and charges at banks, rising inflation and stagnating economies are dragging stocks in the U.S. and around the world. Lehman increased estimate of losses at Merrill Lynch. Crude oil traded above $140 a barrel.
123jump.com Staff
27 Jun, 2008
New York City
Stocks in India and Shanghai lead a sharp decline in the region. Stocks in Asia fell after crude oil futures rose another $2 and crossed $141 a barrel. Market indexes in Hong Kong, Japan and Australia lost more than 2%. Sensex in India dropped as much as 4% at mid-day trading on rising crude oil prices and worries that ruling coalition may break after Congress Party leader decided to finalize the nuclear power deal with the U.S. Shanghai CSI 300 index dropped 5%.
123jump.com Staff
26 Jun, 2008
New York City
Stocks in gained after a week of decline on rising inflation and economic slow down. Sensex in Mumbai rose 1.4% to 14,421. State Bank of India increased its lending rate following a recent increase in interest rate by the Reserve Bank of India. Rupee against dollar contiue to trade lower as crude oil price trade near record level. Stocks in India and Asia are likely to fall on a record high closing of Crude oil in New York.
123jump.com Staff
26 Jun, 2008
New York City
The popular indexes Dow, Nasdaq and S&P 500 dropped as investors worried that assset write downs at banks and financial brokers may increase sharply. Goldman Sachs estimated Citigroup to write down $9 billion this quarter and Sanford Bernstein projected a quarterly loss for Merrill Lynch. Stocks in consumer and financial sectors closed sharply lower. UK, Brazil, Spain, Holland, Sweden fell near 3% and all markets in South America and Europe closed lower on the weakness in New York.
123jump.com Staff
26 Jun, 2008
New York City
The Bank of Japan policy committee member cautioned that rising prices for consumers may dampen spending and shift spending pattern. The comments suggested that low interest environment in Japan may be necessary to accommodate consumers. Tokyo Electric may report larger than estimated loss in the first half as it struggles to restart recently damaged nuclear power plant. J-Power plunged after shareholders rejected dividend increase proposal from an activist shareholder TCI.
123jump.com Staff
26 Jun, 2008
New York City
Regulators in China urge companies to improve their corporate governance and prevent the abuse of company capital by majority shareholders. Stocks in Shanghai and Hong Kong fell as inflation fear persist on rising energy costs. Crude oil price fell in the region. Foxconn fell 5% and Li & Fung dropped 7% on brokerage downgrades. Hong Kong companies are expected to cut production in China located factories on rising fuel and labor costs. China Development Bank takes a stake in UK based Barclays.
123jump.com Staff
26 Jun, 2008
New York City
European stocks fell sharply on rising expectations of inflation, higher estimates of losses at banks and continued decline in the U.S. markets. Indexes in Germany and France dropped nearly 2% as the U.S. indexes lost more than 3%. Hypo Real Estate and Dexia led the decliners in DAX 30 and CAC 40 indexes respectively with a loss of 8.4%. Gold surged on weak dollar.
123jump.com Staff
26 Jun, 2008
New York City
UK stocks declined after the BOE Governor King projected higher inflation for the rest of the year. Rising fuel and food prices are stoking higher inflation expectations. UK and European markets fell between 1.5% and 2.5% after analysts revised estimate of asset write downs at the U.S. banks higher. Barclays and Royal Bank of Scotland dropped more than 3% and HSBC declined 2%.
123jump.com Staff
26 Jun, 2008
New York City
U.S. stocks accelerate their decline after analysts revised their estimates of asset write downs and losses at banks and brokerages. Goldman estimates current quarter asset write down at Citigroup of $8.9 billion and Sanford Bernstein projects a loss of 93 cents per share compared to 82 cents a share profit a year ago. General Motors led the decliners in indexes after a sell recommendation from Goldman Sachs.
