123jump.com Staff
03 Apr, 2008
New York City
An advance in IT stocks in India lifted Sensex in the session. Infosys, Wipro, Satyam and Tata Consultancy gained between 3% and 5%. Bharat Heavy fell after it reported net income for the year rose 17% to 2,815 crore rupees. Indian Oil is expected to issue bonds of 31 billion rupees backed by Indian government to fund the losses generated from selling oil below market price. Separately, Reliance Industries plans to close 1,600 petrol stations.
123jump.com Staff
03 Apr, 2008
New York City
Lenders of home and corporate loans are likely to curtail their lending activities in the near future as credit markets remain tight, according to a report published on the Bank of England Web site. The interbank lending in UK and in the European region still remains tight. International Power led advancers in the FTSE 100 index shares with a rise of 3.73% followed by increases in BG Group Plc of 3.47%, in Severn Trent of 2.76%, in Anglo American Plc of 2.29%, and Lonmin Plc of 2.13%.
123jump.com Staff
02 Apr, 2008
New York City
UK stocks rose after markets in the U.S. traded higher. In London trading FTSE 100 stocks advanced 1.08% or 63.3 at 5,915.90. The Bank of England reported that 73,000 mortgage loans were approved compared to 74,000 in January. Separately, the Building Societies Association said the value of mortgage approvals by customer-owned lenders fell 31% from a year earlier to
123jump.com Staff
03 Apr, 2008
New York City
For months economists and Fed regulators have denied that the U.S. economy is in recession, but evidence is mounting that weakness in housing market and in financial services is spreading into the broader economy. Jobless claims at the end of the last week rose by 38,000 and now nearly 3 million people are receiving weekly unemployment benefits according to the Labor Department. Separately ABA quarterly report showed more consumers are falling behind on their loans.
123jump.com Staff
03 Apr, 2008
New York City
Rising commodities prices in the region and a second-day rally in financial stocks lifted Hang Seng index 1.6% to 24,264. Stocks in Shanghai rose 3%. ADB, Asian Development Bank estimated Hong Kong growth of 4.5% and inflation of 3.4% in 2008. Apartment sales in shanghai were healthy in March and are expected to remain strong in the first half of the year.
123jump.com Staff
03 Apr, 2008
New York City
A rally in commodities and trading companies lifted stocks in Japan. Financial and property stocks gained for the second day in a row. Nikkei 225 rose 1.52% or 200.54 to 13,389.90, while the broader Topix Index increased 1.4% or 17.57 at 1,299.64. Nippon Suisan led gainers in the Nikkei 225 index with a rise of 8.8% followed by rises in Sojitz Corp. of 7.40%, in Mitsui Sumitomo Insurance Group Holdings of 7%, in Obayashi Corp. of 6.8%, and T&D Holdings Inc of 6.6%.
123jump.com Staff
02 Apr, 2008
New York City
European financial stocks rallied for the second day on the hopes that the regional banks are strong to withstand the ongoing credit market crisis in the U.s. Banks, insurance and brokers rallied. WestLB, third largest state controlled bank in Germany reported 2.1 billion assset write down in subprime loan portfolio. French caterer Sodex first half revenue rose 4% and earnings. AirFrance KLM and Alitalia broke off talks after they failed to agree on union proposal.
123jump.com Staff
02 Apr, 2008
New York City
The Fed Chairman Bernanke comments raised a prospect of recession. He cautioned that the in the first half the economy will struggle and conditions for the U.S. economy will improve on fiscal stimulus. He hoped that inflation will moderate in the later part of the year. Crude oil and gasoline jumped after the inventory report showed a more than expected decline. Research in Motion jumped 4% after the close on earnings.
123jump.com Staff
02 Apr, 2008
New York City
Financial stocks surged in Australia after a rally in the U.S. and European markets. Enthusiastic investors showed appetite for risk when Lehman and UBS offered to raise $19 billion. Macquarie Group surged 10% and National Australia Bank Ltd added 5.2% while Commonwealth Bank of Australia gained 4%. ANZ added 5% and Westpac was up 6.5%. Gindalbie Metals largest investor placed injunction on the sale of stock to cover margin call at a failed broker.
123jump.com Staff
01 Apr, 2008
New York City
Mine workers at BHP mine in Colombia return after a month long strike but it may take one month to reach normal production. The mine will lose nearly 20% of its production in the current fiscal year. Roc Oil Company''s share fell 14% today after disclosing that a well drilled in the area may fail to produce oil. Iron ore miner Midwest Corp blamed its operating loss in the fiscal 2007 year on costs incurred in defending a failed $900 million takeover bid by Murchison.
123jump.com Staff
02 Apr, 2008
New York City
Vehicle sales in March rose despite a rise in interest rate. Mahindra sales in March surged 20% and sales at Tata rose 6%. However, Bajaj sales of motorbikes fell 10% on stiff competition in the segment. Maruti earlier reported flat sales from a year ago. Tata Motors rose 1.5% and Mahindra gained 2.6%. Indiabull Securities fell to a new low today.
123jump.com Staff
02 Apr, 2008
New York City
The Fed Chairman Bernanke said that conditions for economy will improve later in the year. He added that the economy may not grow and may even shrink for the first half of this year. The remarks kept stock market in check in the morning trading. Weekly crude oil inventories rose but that of gasoline fell sharply. CarMax rose after reporting lower than expected decline in earnings. Best Buy edged higher after its net income dropped 3.4%.
123jump.com Staff
02 Apr, 2008
New York City
Stocks in Hong Kong surged after a steep rise in the U.S. indexes and an increase in European stock markets. Hang Seng Index retreated from a 4.6% increase in the morning to close up 3.20% or 734.97 at 23,872.43, and the China Enterprises Index rose 4.7% to 12,807.35. In Shanghai, CSI 300 fell 1% to 3.547.98. Investors in China continue to dump stocks. Net redemptions in investment funds in China fell by Rmb 17 billion.
123jump.com Staff
02 Apr, 2008
New York City
Japanese stocks surged after tracking gains in the U.S. and Europe. More than 70% of trading on Tokyo Stock Exchange originates with foreign investors. Nikkei 225 rose 4.21% or 532.95 to 13,189.36, and the broader Topix Index gained 1.5% or 17.5 at 1,230.49. Of the Nikkei 225 index shares 214 gained, 8 declined and 3 were unchanged. Shinko Securities led advancers in the Nikkei 225 index shares with a surge of 14%.
123jump.com Staff
01 Apr, 2008
New York City
Export from India in February rose 35% to $14 billion and imports gained 30% $18.5 billion lifting the traded deficit to $4.2 billion. The trade deficit in the first eleven months increased to $72.5 billion. Wholesale inflation, in the latest data, rose to 6.7%. Sensex index fell 0.11% or 17.8 to 15,626 and CNX Nifty gained 5 to 4,739.
