123jump.com Staff
12 Jun, 2008
New York City
Global weakness in financial stocks and a rise in inflation stoked by sharp rise in crude and food prices dragging the index lower. ASX 200 index lost 2.5% or 138.1 to close at 5,329.20. The Preliminary market turnover was 1.93 billion shares worth $6.46 billion, with 965 stocks down, 322 up and 328 unchanged. BHP dropped 4% after it advanced the rebuild schedule for a nickle smleter in Kalgoorlie.
123jump.com Staff
12 Jun, 2008
New York City
Japan market averages dropped led by exporters and steelmakers on mounting concerns over the health of the global economy as India and South Africa increased its key rate and oil prices rebounded to a record high. In Tokyo trading Nikkei 225 fell 2% to 13,888.60. JFE Holdings led decliners in the Nikkei 225 index shares with a drop of 6.70% followed by losses in Nikon Corp. of 5.60%, in Kawasaki Kisen of 5.57%, in Daiwa House Industries of 5.51%, and Sompo Japan Insurance of 5.28%.
123jump.com Staff
12 Jun, 2008
New York City
U.S. stocks closed higher after May reail sales rose at 1% from April and 2.5% from a year ago. The better than expected gains lifted the moood on Wall Street and market indexes rebounded after mid-day losses in Europe. Lehman Brothers replaces its chiefs of finance and operations, the stock falls on heavy volume to recent low in March. South Africa raised its interest rate by 0.5% to 12%. InBev made an unsolicited offer for $46 billion for Anheuser-Busch. china trade surplus falls.
123jump.com Staff
12 Jun, 2008
New York City
European stocks recovered from the mid-day losses after a rise in the U.S. market indexes. UK, Swiss and German market indexes rose 0.7% and led the trading in the region. InBev surged 6% after it offered to buy U.S. based Anhreuser-Busch for $46.3 billion. Anheuser gained 5% but closed 10% below the offered price. Banks in Germany and France closed higher.
123jump.com Staff
12 Jun, 2008
New York City
Yahoo! Inc ended its formal talks with Microsoft after both parties could not decide on a price. Microsoft has withdrawn its offer of $33 per share. Both parties also could not agree on using Microsoft search technology on Yahoo website network. Yahoo and Google are likely to announce a search pact that will facilitate search on Yahoo websites as early as today.
123jump.com Staff
12 Jun, 2008
New York City
Hong Kong and Shanghai stocks fell as inflation remain at elevated levels and trade surplus declined. China reported consumer price index rose 7.7% in May from 8.5% in April. The National Bureau of Statistics also noted that the producer price index advanced 8.2% from a year ago in May from 8.1% in April. Total trade surplus for the first five months ending in May for China fell 8.6% to $78.02 billion from a year earlier, and the trade surplus dropped 9.9% in May to $20.21 billion.
123jump.com Staff
12 Jun, 2008
New York City
U.S. stocks advanced in the morning trading after a better than expected rise in retail sales in May. Sales rose 1% in May and increased 2.5% from a year ago. Weekly claims of unemployment rose 25,000 at the end of last week. The news of better than expected rise in retail sales lifted the U.S. stocks higher. Lehman replaces its finance and operating chiefs, the stocks falls. European stocks edged higher after an unsolicited bid from InBev for Anheuser Busch.
123jump.com Staff
12 Jun, 2008
New York City
InBev, the Belgian-Brazil beer giant offered $46.6 billion for Anheuser Busch. The deal values the company at $65 per share, a premium of 14% from the closing price on Wednesday. Oil advanced more than $5 a barrel yesterday and boosted energy producers. European markets edged higher, led by 0.6% rise in the UK stock index.
123jump.com Staff
11 Jun, 2008
New York City
Hong Kong market averages declined following the market trends in mainland trading after banks extended losses as Beijing increased its cash reserve requirement ratio for banks. Airlines and telecommunication stocks limited losses. In Shanghai trading, CSI 300 Index fell 2.07% or 6.26 at 3,150.30. In Hong Kong trading Hang Seng Index fell 0.20% or 47.92 at 23,327.60. China Netcom rose 2.2% and China Unicom increased 1.3%. However China Mobile plummeted 1.4%.
123jump.com Staff
11 Jun, 2008
New York City
Crude oil futures shot up $6 at peak before settling with a rise of 4% or $5.40. The sharp rise in oil dragged stocks lower led by losses in financial and tech stocks. Lehman Brothers fell 13% and Goldman Sachs dropped $4.80 or 3%. The chief executive of Royal Bank of Scotland estimated more credit market problems in the next fifteen months.
123jump.com Staff
11 Jun, 2008
New York City
The weakness in financial stocks dragged European market indexes lower. Germany, France, UK and Switzerland dropped nearly 1.7%. Royal Bank of Scotland fell 9% and HBOS, the mortgage lender dropped 12% after the RBS CEO cautioned that more bad news may be ahead in the next fifteen months. The cautionary talk dragged banking stocks sharply lower in the region.
123jump.com Staff
11 Jun, 2008
New York City
UK stocks declined after unemployment rate increased in May to 5.3%. The statistical office, ONS noted that the working age employment rate was 74.9% in the three months to April 2008, unchanged from the three months to January 2008 but up 0.5 percentage points from a year earlier. HBOS Plc led decliners in the FTSE 100 index shares with a drop of 12% followed by losses in Royal Bank of Scotland of 9%.
123jump.com Staff
11 Jun, 2008
New York City
Stocks in Japan rose after the yen climbed to a three-month high on speculation that U.S. interest rates may head higher. Automakers also rose on investor upgrades. Daiichi Sankyo agreed to acquire controllng stake in India based generic pharmaceutical company Ranbaxy from the fouding family and may seek to aquire a majority stake at a price of at least $3.6 billion. The producer price index which measures wholesale inflation increased the most in 27 years to 4.7% from 3.9% in April.
123jump.com Staff
11 Jun, 2008
New York City
Ranbaxy controlling shareholder Malvinder Singh and his family agreed to sell their entire stake to Japan based Daiichi Sankyo for 737 rupees per share at 31% premium to the closing price on Tuesday. The deal values the company at 34,000 crore rupees or $8.5 billion. Sensex recovered after declining for three days. Tata Group is looking to raise $1 billion to finance additional acqusitions.
123jump.com Staff
11 Jun, 2008
New York City
Staples, the office supplies leader revised its offer to purchase Dutch company Corporate Express for cash
