123jump.com Staff
28 Dec, 2007
New York City
U.S.market averages traded sideways in the session after new home sales plunged 9% in November. Home prices declined as well. Dow Jones and S&P 500 closed up a fraction but Nasdaq declined a fraction. Oil and gold rose as commodities prices advanced in international markets. Former Prime Minister of Pakistan, Bhutto was laid to rest in her hometown. Nikkei 225 Index in Japan fell 1.6%. Germany led the European markets with a rise of 22% in 2007. Brazil led Latin manrkets with 43% gains.
123jump.com Staff
28 Dec, 2007
New York City
UK stocks edged lower after a week of volatile trading. FTSE 100 Index declined 0.3% to 6,476.90 and gained 4% in 2007 after rising 11% in 2006. Germany led the western Europe with a rise of 22% and Russia gained 27% in 2007. UK home prices fell 0.5% in December to 182,000 pounds but still manage to gain 4.8% for the year. tighter mortgage conditions are likely to slow the home sales and values in 2008. St.Albans is the most expensive area in UK with average home price of 350,000 pounds.
123jump.com Staff
28 Dec, 2007
New York City
Stocks in Europe were little changed ahead of the holiday weekend and as Germany traded for the last time in 2007. RTS Index of Russia led the European markets with a rise of 27% leading other markets in the western Europe followed by increase of 22% in Germany. France reported its third quarter economic growth of 0.8% on rising consumer spending and corporate investments. UK home prices fell for the secod month in a row but are still nearly 5% higher from a year ago.
123jump.com Staff
28 Dec, 2007
New York City
Italian Finance Minister Tomaaso Padoa indicated that Air France-KLM will be selected as the preferred bidder for the sale of the national carrier Alitalia. After months of dragged bidding and lost investors interest the sale is likely to be completed in the second half of 2008. Air France -KLM valued the troubled and loss making carrier at half the current market cap.
123jump.com Staff
28 Dec, 2007
New York City
Holland based ING has agreed to sell its U.S. based re-insurance unit for 300 million euros or $440 million to an insurance subsidiary of Berkshire Hathaway. The sale will free capital for ING from possible long term liabilites from tobacco and asbestos claims. The sale will result in 100 million euro capital loss at ING but will improve its debt to capital ratio.
123jump.com Staff
28 Dec, 2007
New York City
U.S. market averages lost early momentum after finacials and retail stocks declined. Citigroup and HSBC are looking to sell assets to improve capital base. November new home sales declined 9% from October and fell 34.4% from a year ago, the steepest decline in the last sixteen years. Median price of new home sold declined 0.4% to $239,100. Berkshire plans to launch a bond insurance unit hurting MBIA and Ambac stocks. Oil and gold edged near recod high.
123jump.com Staff
28 Dec, 2007
New York City
Stocks in Japan struggled today as they have done for the year. Nikkei fell 0.6% to 15,546.69 and for the year is down 11%. Credit market worries, slumping U.S. and Japanese economic growth, and virtual halt in construction industry has crimped economic vitality. Consumer price index in November rose at one of the fastet rates in a decade on rising food and energy prices. Japan Airlines stock fell after talks of 150 billion yen offering to raise additional funds.
123jump.com Staff
28 Dec, 2007
New York City
ASX 200 index lost 0.2% to 6,339.90. Rams Home Loans extended a $500 million loan and the maturity of two of its funds by four months. Centro Direct Property Fund and international fund will pay reduced dividends for the fourth quarter. The Board of IMX Resources today signs an agreement with Jilin Tonghua Iron & Steel Mining Company Ltd for the sale of Cairn Hill ROM magnetite /copper ore in South Australia. Australian dollar closed higher.
123jump.com Staff
27 Dec, 2007
New York City
European markets edged higher led by a rise in oil price after the weekly U.S. inventory report showed a decline in inventories. Statoilhydro, Cairn Energy, Eni, and Total advacned. Munich Re estimated that global losses from natural disaster to insurance companies in 2007 rose to $30 billlion, nearly twice the level in 2006. Mortgage approvals in UK fell 44% in November, nearly a ten-year record. Mediobanca, the largest Italian bank has agreed to buy Linea SpA for 389 million euros.
123jump.com Staff
27 Dec, 2007
New York City
U.S. stocks declined sharply after November durable goods orders rose less than anticipated, jobless claims gained, and oil price rose near record levels. Nasddaq fell 1.75% and Dow and S&P 500 lost 1.4%. All thirty stocks in Dow fell. Of the stocks in S&P 500, 474 fell. Oil rose after the weekly inventory report showed a decline. Former Prime Minister of Pakistan Benazir Bhutto was killed by a suicide bomber.
123jump.com Staff
27 Dec, 2007
New York City
U.S. stocks trended downwards after a weker than anticipated November durable goods orders. Orders in the month rose 0.1% on weak transportation and defense orders. Weekly jobless claims rose at the end of the last week. Oil jumped above $97 after weekly report showed another decline in inventories. Pakistan was thrown in turmoil after suicide attack killed Benazir Bhutto, the front-runner in the upcoming election. Musharraf is increasingly perceived as weak and ineffective.
123jump.com Staff
27 Dec, 2007
New York City
The Australian stock market remained in positive territory buoyed by
activity in resources stocks including Rio Tinto and BHP Billiton and higher commodity prices. ASX 200 index closed at 6,350.90. Primary Health Care Ltd extends its $2.1 billion takeover bid for Symbion Health Ltd by two weeks. Fortescue Metals Group rose after ten for one split. Rio Tinto''s chairman happy with deadline. Dollar stronger.
123jump.com Staff
26 Dec, 2007
New York City
U.S. stocks traded sideways on weak holiday sales, rising energy prices, and falling home prices. MasterCard report on holiday sales showed 2.4% increased when gasoline sales were excluded. S&P/Case-shiller index tracking ten metropolitan homes fell 6.7% in October. Earlier OFHEO index showed a smaller decline in november, which tracks larger number of markets. Oil jumped above $95 a barrel and gold avanced to $830.
123jump.com Staff
26 Dec, 2007
New York City
U.S. stocks fell after one hour of trading on weaker than anticipated consumer spending during the holiday period. Sharp rise in gasoline price of 27% sucked consumer appetite for apparel, furniture, appliances, and jewelry. MasterCard reported 3.6% increase in spending in the holiday period but excluding gasoline sales, spending was weak. Retailers and restaurant stocks fell on the data. Asian markets closed higher. Crude oil traded above $95 a barrel on Turkish incursion in Kurdistan.
123jump.com Staff
26 Dec, 2007
New York City
Shanghai Automotive Industry and smaller rival Nanjing Auto merged after China encouraged industry consolidation. Chinese auto industry is expected to grow to 8 million units in 2008 and has 45 automakers. The fiercely competitive industry is long anticipated to consolidate and foreign makers add capacity for the local market. Toyota and Volkswagen expect to increase capacity by 10% in the next year.
