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Market Update

Australian Dollar Near Record High

Darlington Musarurwa
05 Mar, 2010
New York City

Australian stocks rested after commodities traded higher. The Australian dollar edged higher and closed above 90 U.S. cents. Australia may face a decline in crude oil production and imports may represent as much as 75% of consumption as early as 2030.

Japan Markets Surge on BoJ Speculation

Darlington Musarurwa
05 Mar, 2010
New York City

Stocks in Japan surged on the speculation that the central bank will announce more measure to stimulate the economy next week. Shipping companies surged after a sharp gain in freight rate futures.

UK Inflation on the Rise; Glencore, Xstrata Deal

123jump.com Staff
05 Mar, 2010
New York City

UK producer prices increased 4.1% in February from a year ago, eleventh monthly increase in a row. Swiss based Glencore international exercised its option to buy back Colombia based coal unit from Xstrata Plc for at least $2.2 billion. United Business Media surged 7%.

European Markets Weekly Surge; Vinci, Ahold Up

123jump.com Staff
05 Mar, 2010
New York City

European markets closed higher and the benchmark index in Athens soared 9%. Investors surmised that the EU will provide a bailout to Greece after Greek lawmakers passed budget cuts meeting the demands of EU nations and regulators. Vinci SA and Ahold NV gained on earnings.

Massey, Apple, Ciena, InterMune Rise

123jump.com Staff
05 Mar, 2010
New York City

General Growth Properties gains on the first day of trading. RCN, the regional cable provider soared 23% on a private equity buyout. Coal miners advanced after India based Essar Group acquired Trinity Coal. Apple Inc added 2.5% ahead of the release of iPad. Cache fourth quarter loss

Staples Q4 Earnings Call Transcript

123jump.com Staff
05 Mar, 2010
New York City

The office products company reported quarterly sales increased 4% to $6.4 billion. Net quarterly income declined 18% to $234 million. Earnings per share dipped to 32 cents from 40 cents a year-ago quarter and earnings is estimated between 22 cents and 24 cents a share for the first quarter 2010.

U.S. Stocks Advance on Payrolls Data

123jump.com Staff
05 Mar, 2010
New York City

U.S. stocks traded higher after February unemployment was unchanged at 9.7% and payrolls declined 36,000 less than expected in the month. Greek lawmakers passed the budget cuts sought by the government. Crude oil advanced.

India Targets Higher GDP; Spice Mobiles Surges

Mayank Mehta
05 Mar, 2010
New York City

Prime Minister Manmohan Singh said that the current financial year economic growth will exceed 7.2% and the next year growth is likely to be near 8%. Sulzer India plans to delist the company. Spice Mobiles Ltd plans to raise $160 million. Hero Honda plans to not increase prices.

Broadcom Corp. Q4 2009 Earnings Call Transcript

123jump.com Staff
05 Mar, 2010
New York City

Revenues rose 18.6% to $1.34 billion & net income was $59.2 million or 11 cents a share. Total gross margin improved 220 basis points to 53.1%. Product gross margin in Q4 increased 240 basis points to 50.9% versus 48.5% in Q3. Cash flow from operations was record $332 million or 25% of net revenue.

China Markets Fear Loan Growth Decline

123jump.com Staff
04 Mar, 2010
New York City

Banks in Hong Kong and Shanghai trading declined after Chinese loan growth rate was estimated at 22% in the current year, lower from 40% increase in 2008. Metals processors closed lower on a weakness in copper prices. Li & Fung acquires UK based Visage Group.

Australian Trade Deficit, Construction Ease

Darlington Musarurwa
04 Mar, 2010
New York City

Australian trade deficit eases to A$1.1 billion in January. Linc is reviewing offers for three properties that it estimates are worth $1.5 billion. Telstra Corp hired bankers for its bond offering in Europe. Australian building industry expands at a slower pace in February.

Business Investments in Japan Drop Again

Darlington Musarurwa
04 Mar, 2010
New York City

The benchmark index in Tokyo closed lower 1.1% on the worries that lower economic growth in China will slow exports. Business investments in Japan declined for the eleventh quarter in a row at the end of last year. Higher yen dragged exporters and automakers lower.

ECB Left Rates at 1%; Vinci Rises, Maersk Falls

Mayank Mehta
04 Mar, 2010
New York City

European markets closed lower after a three day rally and the ECB left its key rate unchanged at 1%. Greece launched its

UK Rates on Hold; Schroder Surges 6%

123jump.com Staff
04 Mar, 2010
New York City

The Bank of England left its key lending rate on hold at 0.5% and kept its plan to purchase

U.S. Productivity Surges; Oil Above $80

123jump.com Staff
04 Mar, 2010
New York City

U.S. businesses reported 6.9% improvement in productivity in the fourth quarter of 2009 and 5.9% in the year. The surge in productivity was driven by 4.7% decline labor cost in the year as employers cut jobs. Weekly jobless claims declined and the dollar edged higher against the euro.