123jump.com Staff
12 Mar, 2008
New York City
U.S. stocks fell in the final hour of trading as investors worried that the recent plan from the Fed may not save the economy from slipping into a recession. Banks and brokerage stocks fell in the final hour of trading. Crude oil jumped to a new high above $110 as dollar reached a new low against euro. Humana lowered its earnings estimate but Caterpillar guided the annual earnings higher. Airlines stock reached a new low on the rise in crude oil and analyst downgrade.
123jump.com Staff
12 Mar, 2008
New York City
The Reserve Bank of Australia in conjunction with the Federal Reserve Bank in the U.S. and other Central banks in Europe and Canada indicated a plan to add liquidity to the credit markets. The news sent stocks in the U.S., Hong Kong, Europe, Canada, and Australia higher. The plan is expected to bolster market confidence and encourage mortgage lending and stem the rising mortgage rates denominated in the U.S. dollar.
123jump.com Staff
12 Mar, 2008
New York City
In Hong Kong trading Hang Seng Index rose 2% or 427.41 to 23,422.76, and the China Enterprises index of H shares, or Hong Kong-listed shares in mainland companies, advanced 2.3%, or 288.61 to 12,877.35. The U.S. Fed led liquidity move to encourage trading in mortgage markets lifted stocks in the U.S, Canada, Europe, Japan, Australia, and Hong Kong. However, the HK government indicated that rate reduction in tandem with the U.S. action at the end of this month is not likely.
123jump.com Staff
12 Mar, 2008
New York City
Fourth quarter economic growth in Japan was reported by the Cabinet office at 3.5% beating the estimates of 2.2% or more. The sharp rise in GDP was driven by consumption and growing exports. Separately, The Bank of Japan reported domestic corporate goods price index rose 3.4% in February and export price index fell 5.2%. Nikkei 225 index gained 2.29% or 259.6 at 12,947.88, and the broader Topix Index rose 1.6% or 19.98 to 1,255.13.
123jump.com Staff
12 Mar, 2008
New York City
Morning rally on the back of a rise in global stocks quickly faded on the release of weaker than expected industrial prodution data. January industrial production growth declined to 5.3% from 11.6% a year ago on weak growth in manufacturing, mining, and utilities. Rural Electrification priced its IPO at 125 rupees and closed at 121.30 rupees.
123jump.com Staff
12 Mar, 2008
New York City
U.S. stock averages traded 1% higher, a second day advance on the positive earnings guidance. Caterpillar reaffirmed its earnings rise in 2008 between 15% and 20% and sales gain between 5% and 15% on the strength in the global demand. Immucor, blood transfusion systems developer fell 31% after making a cash acquisition for $117 million. Financial stocks gained for the second day after the Fed plan to pump liquidity. Humana plunged 27% on the lowered earnings forecast.
123jump.com Staff
12 Mar, 2008
New York City
Humana, health insurance provider lowered its earnings estimate for the first quarter by half between 44 and 46 cents. For the full year Humana estimated earnings between $4.00 and $4.25 from $5.35 and $5.55 per share. The company lowered its operating margins, cash flow and gave a cautious guidance on revenue.
123jump.com Staff
11 Mar, 2008
New York City
European financial markets advanced more than 1% on the Central banks adding liquidity. German investor confidence in March rose as companies cope with the rising euro. Dubai controlled fund agreed to pay 1.19 euros per share to acquire a controlling interest in Spanish construction company Colonial SA. EADS fell 7% in Paris trading after it reported a loss in 2007 of 446 million euros or 56 cents per share on sales decline of 0.8%. The company earned 99 million euros or 12 cents per share.
123jump.com Staff
11 Mar, 2008
New York City
U.S. stocks surged after a coordinated move among central bankers led by the U.S. Fed. Nasdaq surged 4%, S&P 500 soared 3.7%, and Dow Jones jumped 3.6%. The Fed led move to add $200 billion in liquidity to credit market was widely seen as a move to improve the health of the financial systems and encourage lending. American Express led the gainers in Dow Jones index and Washington Mutual led the S&P 500 stocks. Talks of investment from Goldman or Buffett lifted Wamu. Bear Stearns soared.
123jump.com Staff
11 Mar, 2008
New York City
The Bank of England in a coordinated move along with central banks in Europe, Canada, and Australia offered to inject liquidity and accept wider collateral. Markets in Europe, Canada, and U.S. rallied. In London trading FTSE 100 stocks rose 1.09% or 61.3 to 5,690.40. Of the FTSE 100 stocks 67 rose, 33 declined and 2 were unchanged. Cairn Energy led advancers in the FTSE 100 index shares with a rise of 8.06% followed by Standard Life adding 5.42%.
123jump.com Staff
11 Mar, 2008
New York City
Stock averages in Japan rebounded after investors looked for bargains in commodity-related stocks that have traded lower in the recent weeks. In Tokyo trading Nikkei 225 gained 0.05% or 6.54 to 12,538.67, and the broader Topix Index rose 0.9% or 10.76 to 1,235.15. Sky Perfect JSAT led advancers in the Nikkei 225 index shares with a rise of 10.93%. Ajinomoto Co. Inc led decliners with a fall of 4.61%.
123jump.com Staff
11 Mar, 2008
New York City
February consumer price inflation in China surged to 8.7%,the highest in 12 years. Severe weather conditions played a key role in lifting food price surge above 25%. Hong Kong stocks recovered from a 2% dip in the morning session to close up 1.3% as bargain hunters braved in. Utilities, insurance, and telecom stocks added. Sinopec fell after a government imposed price freeze on refined products.
123jump.com Staff
11 Mar, 2008
New York City
Stocks in India rebounded ahead of U.S. Fed and European central banks plan to add liquidity to the credit markets. DLF led the surge in realty stocks. GAIL India surged 7% after it increased spending on pipeline projects and it said it plans to issue bonus shares. ACC jumped 6% on the sale of a unit to HNG Group for 400 crore rupees. Tata Motors plan to raise $1 billion in international markets to pay for the Jaguar and Land Rover from Ford.
123jump.com Staff
11 Mar, 2008
New York City
The Federal Reserve Bank in coordination with other central banks offered to add liquidity of $200 billion to credit markets and accept wider securities as collateral. The second coordinated move in four months is designed to increase the willingness among traders to boost confidence and provide incentives to trade. The ECB will offer up to $30 billion in short term auction and the Swiss National Bank will offer up to $6 billion. The Reserve Bank of Australia added $721 million in liquidity.
123jump.com Staff
10 Mar, 2008
New York City
China''s trade surplus in February fell to $8.6 billion from $23.7 billion in 2007, a 63% decline. Difficult weather conditions played a key role in lowering production at many manufaturing plants across the country. Exports from China rose 6.5% to $87.4 billion and imports increased 35% to $78.8 billion. Exports to the U.S., second largest trading partner, fell 5% to $16.4 billion and imports from the U.S. surged 33% to $6.1 billion. The trade surplus with 27-nations EU rose 15% to $10billion.
