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U.S. Stocks Edge Lower; Oil Drops

123jump.com Staff
15 May, 2009
New York City

The U.S. stocks edged lower on a weakness in banks and energy stocks. Crude oil declined and dollar gained against euro. Euro zone recorded deepest economic decline in the first quarter.

UK Energy Stocks Weak; Ladbrokers Fall 9%

123jump.com Staff
15 May, 2009
New York City

Mining and energy related stocks closed lower in UK on a fall in energy prices. The interbank rate continues to fall. Barclays surged after it confirmed that it has received offers for its investment management unit.

Rio Tinto Surges 7%, Stockland Plunges 9%

123jump.com Staff
15 May, 2009
New York City

Australian stocks rebounded on a rise in commodities and energy prices. Australian dollar declined 1.5% for the week. Rio Tinto surged after it said it is committed to a deal with Aluminum Company of China. For the week, Australian dollar drops 1.5% and the benchmark index declines 4.3%.

JCP Penney, Blockbuster, Abercrombie Fall

123jump.com Staff
15 May, 2009
New York City

The Hartford Financial Services Group led gainers in the S&P 500 index with a rise of 11.5%. Agilent Technologies swings to a fiscal second quarter loss. Blockbuster Inc plunges as quarterly sales miss analysts estimates. J. C. Penney Company first quarter profit falls.

Industrial Production Falls, Flat CPI

123jump.com Staff
15 May, 2009
New York City

Net foreign purchases of long term securities surged to $56 billion with Japan as the largest buyer. Industrial output declined 0.5% in April and consumer price index was flat.

Hartford, Lincoln National Surge; TARP Approval

123jump.com Staff
15 May, 2009
New York City

Six insurers surge after they were approved for emergency funding by the Treasury. Hartford Financial led the surge among six insurers followed by early gains in Prudential, Principal, Ameriprise, All State and Lincoln National.

Machinery Orders Lift Tokyo Stocks; Acom Surges

123jump.com Staff
15 May, 2009
New York City

Stocks in Tokyo edged up and for the week closed higher. Latest machinery orders indicated a sharp surge in overseas orders but the government forecasted weak sales in the current quarter. Sanyo Electric, Sony and Acom gained after the earnings release.

Mumbai Stocks Surge; CPI Falls

123jump.com Staff
15 May, 2009
New York City

Stocks in Mumbai gained. Consumer price index declined in March but above 8% on higher food prices. Congress party suggested that it can form the next government without the help of Communist party. Banks surged on the comments from the RBI governor.

Calm European Markets; Richemont, Aegon Gain

123jump.com Staff
14 May, 2009
New York City

Markets in Germany and France closed nearly flat. Richemont surged 6% after it reported better than expected earnings. Aegon NV soared 6.4% after it reported lower than expected net loss. SAB Miller and offered cautious outlook and Generali net plunged 89%.

U.S. Banks, Insurers Rally, Europe Follows

123jump.com Staff
14 May, 2009
New York City

Investors bid up regional banks and insurance companies a day after stocks fell in these sectors. Jobless claims rose in the previous week and producer prices gained in April on higher food prices. Techs rallied and after the close Nordstrom beat earnings views.

UK Stocks Rebound; BT Dividend Cut

123jump.com Staff
14 May, 2009
New York City

UK stocks attempted a rebound after brokers recommended banks and mortgage lenders. Royal Mail returns to profit after heavy cost cuts. ITV revenues decline and look for more cost savings. Invensys surges on an increase in orders and a dividend hike. National Grid looks for rate hike.

China Stocks Edge Lower; Tencent Surges

123jump.com Staff
14 May, 2009
New York City

Stocks in Hong Kong and Shanghai fell after markets in the region tracked the losses in the U.S. and in Europe. Banks, electronics contractors and energy companies led the decliners. Tencent Holdings surged 10% and Foxconn declined 5%.

CME, MBIA Rise; Aegean, MGM Mirage Fall

Mayank Mehta
14 May, 2009
New York City

Mylan led the decliners in the S&P 500 index of 3.8%. Kohl

Australia Tracks Lower Metals; Leighton Drops

123jump.com Staff
14 May, 2009
New York City

Investors in Australia focused on the recent slide in metals prices. Fairfax Media dropped on rating downgrade. Leighton Holdings declined after nine month profit was cut in half.

Exporters Fall Hard in Tokyo; Sony Loss

123jump.com Staff
14 May, 2009
New York City

Stocks in Tokyo were hit hard after the unexpected fall in monthly U.S. retail sales. The recent rally of stocks was already losing its steam as investors are increasingly turning cautious. Sony, Inpex, NEC Electronics declined but NTT Group gained after the release of earnings.

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