ticker

U.S., World Indexes Down 2%; Obama Bank Plan

123jump.com Staff
21 Jan, 2010
New York City

President Obama proposed a plan that will limit excessive risk taking by banks with depositors capital and banks are not too big that require a government bailout. Indexes in the New York, Toronto, Mexico City, Sao Paolo and Europe fell between 2% and 2.8%. Gold, copper and crude oil declined.

Lower Banks Drag European Indexes 2%

Mayank Mehta
21 Jan, 2010
New York City

European markets declined nearly 2% for the second time this week and erased the gains of the year. Banks led the decliners after the U.S. proposed limiting risk taking activities by banks. Euro was under pressure as a measure of economic growth softened.

UK Budget Deficit Soars; Banks Drop

Mayank Mehta
21 Jan, 2010
New York City

The UK budget deficit surged in December to a record

Ebay, Estee Lauder, Starbucks, Xerox Rise

Mayank Mehta
21 Jan, 2010
New York City

Goldman Sachs quarterly and annual earnings exceeded estimates and said it will payout $16 billion in bonuses. Estee Lauder, Seagate Technology, Starbucks and Xerox Corp increased after reporting better than expected earnings. eBay surged after it offered annual earnings outlook.

Australian Dollar Gains; CBH Surges on Toho Deal

Mayank Mehta
21 Jan, 2010
New York City

Stocks and commodities in Sydney trading declined after China reported a surge in economic expansion. The Australian dollar strengthened. New Zealand retail sales increased 0.8%. CBH Resources surged 15% after it struck a deal with Toho Zinc Co.

Yen Weakness Lifts Japanese Stocks

123jump.com Staff
21 Jan, 2010
New York City

Stocks in Japan closed higher after the yen weakened. Japanese electronics makers increase after Korean chipmaker Hynix swings to a profit. Insurance companies closed higher after casualty insurers expand in China.

Chinese 10.7% Growth Fuels Bubble Worries

Mayank Mehta
21 Jan, 2010
New York City

Stocks in Hong Kong and Shanghai dropped sharply after China reported fourth quarter economic expansion of 10.7%. Resource, auto makers, realtors and banks led the decliners. Copper production surged and crude oil production increased in 2009.

U.S. Stocks Fall on Jobless Claims Increase

123jump.com Staff
21 Jan, 2010
New York City

U.S. stocks traded lower after weekly jobless claims increased in the last week. Goldman Sachs quarterly net surged to $4.95 billion. Quarterly sales at Starbucks increased 4% and at eBay surged 16%. Commodities were on the decline after China reported a surge in economic expansion.

European Indexes Volatile, Slower Growth

123jump.com Staff
21 Jan, 2010
New York City

World indexes traded mixed after China reported a surge in its latest quarterly economic expansion. European composite index of manufacturing and services showed a slower growth in January. The euro declined 0.4% and Greek bonds rebounded.

Asian Markets, Metals Drop on China Overheating

123jump.com Staff
21 Jan, 2010
New York City

Markets in Asia and Europe were on the defensive after China reported fourth quarter economic expansion of 10.7%. In 2009, economy grew at a rate of 8.7%, above 8% target rate. Metal prices fell in London trading on the worries that China will issue more measures to tighten lending.

Inflation in India Spikes, L&T Drops 6%

Mayank Mehta
21 Jan, 2010
New York City

The Sensex index in India dropped 2.4% after wholesale inflation index surged and Larsen & Toubro lowered its sales outlook. Reserve Bank of India may be forced to increase rate at its meeting on Jan 29. Rupee declined. Kotak Mahindra quarterly net surges 153%.

China to Trim Lending by 22%; Stocks Plunge

Mayank Mehta
20 Jan, 2010
New York City

Markets in Hong Kong and Shanghai dropped sharply after regulators seek to curb lending by 22% in 2010. Home prices are expected to increase at least 10% in mainland China and Hong Kong. Property price index in Hong Kong surged 33% in 2009, leading the world real estate prices.

Japan Service Index Falls, Stocks Weak

Darlington Musarurwa
20 Jan, 2010
New York City

Stocks in Japan traded flat as investors await earnings from banks, exporters and trading companies in few weeks. Resource stocks showed a negative bias. Japan demand for services fall 0.2% in November. Tokyo condo supply falls 16.8% in 2009.

Australian Sentiment Index Up; BHP Ore Output Up

Darlington Musarurwa
20 Jan, 2010
New York City

Australia

India Stocks Flat; NTPC, TVS, Siemens Rise

Mayank Mehta
20 Jan, 2010
New York City

Mumbai stocks closed flat as investors digest earnings. HDFC third quarter net profit increases 23% and quarterly net at India Infoline doubled. JSW Steel Ltd more than doubled on sales rise of 47%. Diamond exports in December increased 45% from a year ago.

Market Update