123jump.com Staff
02 Oct, 2008
New York City
Insurance stocks decline for the third week in a row and and for the third day of the week as brokerage firm lower rating on companies. Two brokerage firms lowered outlooks on Principal Financial Group and MetLife. Prudential and Hartford Financial continue their slide for the week.
123jump.com Staff
02 Oct, 2008
New York City
Agro-chemicals stocks plunged after the earnings miss from the Mosaic Corp. Merrill Lynch lowered its ratings on Agrium and Potash. Mosaic dropped 31% and dragged down Bunge Ltd by 21%, Potash Corp by 25% and Intrepid Potash 22%. Marriott fell as much as 10% on weaker earnings outlook.
123jump.com Staff
02 Oct, 2008
New York City
General Electric completed its $12.2 billion in public offering after denying for months that it needs outside capital. The offering will help the financial services company to build its reserve and help the engineering giant in preserving its AAA rating.
123jump.com Staff
01 Oct, 2008
New York City
The U.S. Senate passed with overwhelming majority nuclear trade treaty with India. The approval with a vote of 86-13 lifted three decade ban on trade is expected to open doors to india to sell nuclear technology, fuel and reactors.
123jump.com Staff
01 Oct, 2008
New York City
Stocks in New York traded sideways ahead of the U.S. Senate vote on the proposed bailout plan. Stocks of insurance companies declined sharply as earnings worries take hold. Principal Financial, Hatford Financial, MetLife and Prudential plunged more than 5%. GE plans to raise $12 billion.
123jump.com Staff
01 Oct, 2008
New York City
Japan stocks closed marginally higher ahead of the U.S. Senate vote but business sentiment continues to weaken. Wages in August fell 0.3% and auto sales for the first six months of the fiscal year declined 3%. Shipping lines fell as freight index drops.
123jump.com Staff
01 Oct, 2008
New York City
Manufacturing index suggested that the UK manufacturing has declined and service industry has lost its growth drive as consumer spent less and business face tighter lending. Xstrata Plc abandoned its hostile bid for Lonmin Plc and raised its stake to 25% in the company. Pound fell.
123jump.com Staff
01 Oct, 2008
New York City
Sensex in Mumbai trading gained on hopes that the U.S. will pass its bailout plan. Trade deficit for the first five months surged 44% on crude oil import bill rise of 77%. The sharp rise in oil prices lifted the trade deficit to $49 billion in the period. Software exporters gained on weak rupee.
123jump.com Staff
01 Oct, 2008
New York City
Farmers Mac surges 60% after it raised $65 million to meet its regulatory capital requirements and replaced its chief executive. Peabody Energy and Massey Energy plunge more than 10% as oil price decline and economic worries rise. Hartford Financial plunges more than 10% for the second day.
123jump.com Staff
01 Oct, 2008
New York City
U.S. stocks traded lower after General Electric rating was lowered on weak earnings outlook in its financial services. GE dropped more than 7% and dragged market indexes lower with it. MetLife, Prudential and Hartford Life plunged on the earnings worries. Peabody Energy, Freeport McMoran drop 10%.
123jump.com Staff
30 Sep, 2008
New York City
Google dropped on erroneous trading and Nasdaq reset its price near $400. Hartford Financial Services plunged after Fitch puts its life insurance division related debt on a negative watch. Genworth Financial surged on the hopes that company will sell or spin off its mortgage unit.
123jump.com Staff
30 Sep, 2008
New York City
The benchmark indexes surged 5% in the U.S. and 2% in Europe on the hopes that the historic U.S. intervention of $700 billion will be approved before the end of the week. Crude oil gained but in the third quarter dropped nearly 30%. The dollar fell but rebounded and closed higher on a late surge.
123jump.com Staff
30 Sep, 2008
New York City
Australian stocks sharply lower after historic losses in the U.S. market indexes. Australia added liquidity in the system in coordination with the central banks in Europe and the U.S. Of the stocks in ASX index, 158 declined. Australian dollar fell against the U.S. dollar and crude oil dropped 10%.
123jump.com Staff
30 Sep, 2008
New York City
China markets recovered from earlier losses in the day and managed to close higher. The HKMA added liquidity to the system and issued revised guidelines for collateral requirements from Monday. Banks closed higher in trading. Shipping companies fell as freight index declined.
123jump.com Staff
30 Sep, 2008
New York City
UK stocks rebounded after a record one-day loss in trading on Monday in recent times. The financial stocks rebounded on the hopes that the U.S. will act soon on the troubled bailout plan. Tesco reported 13% rise in sales in the first half and 11% increase in earnings.
