123jump.com Staff
05 Feb, 2009
New York City
European markets closed lower on weak profits from banks and weaker economic conditions. The European Central Bank left its key lending rate unchanged at 2% and the Bank of England lowered its rate by 50 basis points to 1%. Deutsche Bank, Swiss Re, Zurich Financial and Unilever plunged.
Mayank Mehta
05 Feb, 2009
New York City
Bank stocks remained weak in trading. Fifth Third, Huntington, Regions Financial declined. Bank of America fell further as the expectations of the bank nationalization gathered momentum. Akamai Technologies surged on better than expected results.
Darlington Musarurwa
05 Feb, 2009
New York City
The Bank of England cut its key lending rate by 0.5% to 1% as the UK economy shows no sign of stabilizing. The latest move comes on the expectation of inflation falling below 2%. Home prices in January declined 17% from a year ago but gained 1.9% from December.
123jump.com Staff
05 Feb, 2009
New York City
Stocks in Australia fell as companies offer cautious views on earnings. Macquarie Group cuts its annual earnings by half on A$900 million write-off. New Zealand unemployment rate advanced to 4.6% at the end of the December quarter. Qantas Airways dropped to 12-year low on A$500 million offering.
123jump.com Staff
05 Feb, 2009
New York City
Stocks in Mumbai fell 1.2% after foreign investors continue to withdraw from the capital markets. For the year so far, foreign investors have sold nearly 4,500 crore rupees of shares. The latest measure of inflation in India showed a decline to 5.07%. Inflation is expected to dip to below 2%.
123jump.com Staff
05 Feb, 2009
New York City
January new car sales in Japan drop 28% on weak consumer demand and tight lending. Sales of Toyota fell 23.4%, at Nissan and Honda declined 31%. Mini-cars sales which are more than 70% of total sales declined 5.6%. Casio lowered its earnings estimate by 90%. NTT nine months sales edged 1.4%.
123jump.com Staff
05 Feb, 2009
New York City
China offered tax rebate to textile and equipment industries. China in the last three months has offered similar subsidies to home buyers, banks and small businesses. The latest move is part of the broader attempt by China to sustain the latest economic expansion in the face of exports.
123jump.com Staff
04 Feb, 2009
New York City
EMC fourth quarter revenue dropped 4% to $4 billion and earnings dipped 45.2% to $287.9 million. For the full year, EMC revenues rose 12%, earnings per share increased 14% and free cash flow growth of 17%.
123jump.com Staff
04 Feb, 2009
New York City
U.S. stocks dropped on weak earnings and worries that financial system is still under duress. The Bank of America fell as market speculated that CEO Lewis may be replaced. A rise in commodities prices lifted miners in Europe, UK and in New York trading.
123jump.com Staff
04 Feb, 2009
New York City
European stocks advance on a rise in commodities. Euro tumbles against dollar and yen on weak retail sales. Eurostat reported December retail sales declined 1.6% compared to a year ago and revised November sales were lowered. Roche fell on weak earnings.
123jump.com Staff
04 Feb, 2009
New York City
Stocks in London rallied on a rise in commodities prices. A private estimate lifted its estimate of the shrink in the economy to 2.7% from 0.9% in the earlier estimate in November. A manufacturing index in January showed a decline but at a slower pace.
Mayank Mehta
04 Feb, 2009
New York City
Textron led the decliners after it was forced to tap in the credit line to boost its liquidity and repay its commercial paper debt. CB Richard Ellis and Jones Lang LaSalle surged after JLL exceeded the earnings expectations.
123jump.com Staff
04 Feb, 2009
New York City
A rally in stocks in India came to a halt after the tax department estimated a shortfall of 12.5% in collection in the first eleven months of current fiscal year. However, the government maintained that the collection will meet its target.
Darlington Musarurwa
04 Feb, 2009
New York City
Manufacturing activity in China contracts but at a slower pace in January. Steel and base metal makers traded higher on a rise in commodities prices. Commercial property builders in Hong Kong dropped for the second day in a row on rising negative equity mortgages and continued fall in property price
123jump.com Staff
04 Feb, 2009
New York City
Stocks in Australia fell 2% on weak new building approvals and despite retail sales increase. Building approvals fell in December as construction industry suffers its one of the worst declines in a decade. December retail sales rose 3.8%. BHP Billiton first half profit declined 57%.
