123jump.com Staff
25 Mar, 2008
New York City
European markets surged after a rally in the financials lifted averages across the region. The ECB provided additional liquidity in the market but at a higher interest rate than a week ago. Markets in the region surged more than 3%. Adidas lifted Reebok sales growth estimate. France lowered its annual growth rate to 1.7% from 2%. Ford is likely to announce sale of its luxury car group to Tata based in India, tomorrow. Impreglio of Italy won a water project for Las Vegas City for $450 million.
123jump.com Staff
25 Mar, 2008
New York City
U.S. stocks closed mixed at close after a rally of four days in a row. February consumer confidence declined to a five-year low after a persistent rise in food and energy cost and falling home prices. Separately, home prices in the metropolitan areas declined, for the thirteen months in a row. European makrets closed higher and Asian markets surged in the overnight trading. Argentina, Brazil and Mexico surged.
123jump.com Staff
25 Mar, 2008
New York City
Australian stocks surged as markets in Asia rallied. ASX 200 gained 3.7% or 190.0 to 5,318.40. The sharp rise in stocks in the U.S. on better than expected home sales in February and revised bid for JP Morgan lifted the sentiment in the region. NAB increased its home loan rate by 0.09% to 9.36%. Santos chief executive resigned. Leighton surged 9% after it won a $795 million contract to build pipeline for ONGC near Mumbai, India.
123jump.com Staff
25 Mar, 2008
New York City
Stocks in Hong Kong surged after a revised bid for Bear Stearns and better than expected home sales in February lifted U.S. stocks. Hong Kong and Indian stock market averages led the rise in Asian markets. Hang Seng Index rose 6.43% or 1,356.30 to 22,464.52. After the close, ICBC reported a sharp rise in profit. Airline stocks gained on the speculation that newly elected government in Taiwan will open direct flight routes between the country and China.
123jump.com Staff
25 Mar, 2008
New York City
Tokyo stocks rallied on the back of higher closing in the U.S. in Monday trading. Banks and brokerage stocks led the advancing issues. In Tokyo trading, Nikkei 225 rose 2.12% or 265.13 at 12,745.22, and the broader Topix Index increased 1.5% or 18.83 to 1,242.98. Nippon Glass forecasted 20% rise in sales and 50% surge in operating profit on higher demand in the next fiscal year.
123jump.com Staff
25 Mar, 2008
New York City
Stock in Mumbai trading surged after a rally in Asia stocks lifted market averages across the region. Hong Kong and India led the region with a sharp rebound of more than 6%. Realty, banks and technology stocks led the gainers in Mumbai trading. Sensex gained 6.1% or 928.09. At close, the BSE 30 share closed at 16,217.49. Nifty gained 5.1% or 267.65 to close at 4,877.50 levels.
123jump.com Staff
25 Mar, 2008
New York City
February consumer confidence index fell to a five-year low as rising fuel and energy prices and falling home values affected consumers. The outlook for the next six months according to index appear to be gloomy. Home prices in February declined 10.7% from January. The two measures left U.S. market averages were lower in the morning trading hours. European markets jumped more than 2.5% and Asian markets rallied. In the overnight rally, India and Hong Kong surged above 6%.
123jump.com Staff
24 Mar, 2008
New York City
Nasdaq surge of 3% led the U.S. stock rally. JP Morgan revised its offer to purchase Bear Stearns and agreed to purchase 39.5% of the broker at $10 per share from the previous bid of $2 per share. Existing home sales in February rose 2.9% from February but fell 24% from a year ago. The surprise rise in home sales and revised bid for Bear lifted financial, home builders, and retail stocks. European markets were closed and Brazil and Mexico added 1.9% and 1.5% respectively. Shanghai fell 5%.
123jump.com Staff
24 Mar, 2008
New York City
JP Morgan agreed to purchase additional 95 million shares and revised the purchase price to $10 per share. The bank after a near revolt from Bear Stearns shareholder, agreed to lift the bid. JP Morgan will also bear the first $1 billion in losses of the $30 billion guarantee offered by the Federal Reserve Bank. Merger is anticipated to be completed on or before April 8, 2008.
123jump.com Staff
24 Mar, 2008
New York City
U.S. stocks rose in the morning trading, extending a two-day rally. JP Morgan lifted its Bear Stearns bid to $10 per share from $2 as Bear Stearns shareholders mounted aggressive campaign to scuttle the deal. Dow, Nasdaq, and S&P 500 jumped 1% in the morning trading. Tiffany soared 13% after it reported better than expected earnings. Walgreen Co earnings jumped 5% on 10% rise in sales.
123jump.com Staff
20 Mar, 2008
New York City
Lihir Gold agreed to merge with Equigold to create leading independent gold producer in the world with a market capitalization of $9 billion and 25 million ounces of proven reserves. The comdined company plans to mine 1.2 million ounces of gold in 2009. The merger will exchange 33 Lihir shares for every 25 Equigold stocks.
123jump.com Staff
20 Mar, 2008
New York City
European markets were on the decline with gold, silver, oil, and agricultural commodities trading lower. Credit Suisse loss forecast unnerved investors. Credit Suisse blamed fired employees to misprice bonds to hide losses. The string of unforeseen losses at the bank has put the management credibility in question. German state controlled bank IKB received the fourth capital injection to cover 450 million asset write-down. Silver and oil dragged the commodities markets lower.
123jump.com Staff
20 Mar, 2008
New York City
U.S. stocks rallied on positive analyst comments covering Fannie Mae and Freddie Mac. KBW analyst suggested that the recent Fed actions and wider latitude in mortgage lending will help the two largest mortgage lenders. Financials, home builders, and brokerage stocks rallied. Dow, Nasdaq and S&P 500 rose above 2%. Credit Suisse surprised estimate in the current quarter loss kept European banks and markets in check. General Motors closed near record low. Visa and MasterCard surge.
123jump.com Staff
20 Mar, 2008
New York City
UK retail sales in three months ending in February rose 1% from previous three months and jumped 4.7% from a year ago. The rise in sales was recorded in food stores, non-store retailing and repair services. February current budget surplus rose to
123jump.com Staff
20 Mar, 2008
New York City
U.S. stocks edged higher in the morning on continued weakness in crude oil and metals prices. Crude oil, gold, and natural gas fell more than 3% in the morning trading. FedEx reported lower earnings and guided current quarter earnings to decline. Borders Group fell 12% after reporting earnings decline and financing from activist investor Pershing Square. Visa stock rose 6% on the second day of trading.
