123jump.com Staff
30 May, 2008
New York City
Allco Finance Group agreed to a tougher financial conditions to refinance its $255 million of debt and Centro Gruop requested a trading halt on its stock as it negotiates with its creditors. Origin Energy surged 7% after it rejected $13 billion bid from the UK based BG Group. The provider of drilling services to mining companies, Boart Longyear Ltd stock gained 12% after it lifted its annual sales growth estimate to between 20% and 25% from the previous estimate of 15%.
123jump.com Staff
02 Jun, 2008
New York City
China Unicom Ltd. proposed to acquire China Netcom Group Corp. for HK 187 billion or $24 billion. The second largest mobile carrier, China Unicom will also sell its smaller CDMA mobile network to China Telecom Corp for 66.2 billion or $8.8 billion in cash and sell its operations and subscriber lists for 43.8 billion yuan or $5.6 billion to its Hong Kong listed subsidiary.
123jump.com Staff
30 May, 2008
New York City
Personal spending in April rose 0.2% after increasing by 0.4% in March. Personal income in the month rose 0.2% and disposable income increased 0.2%. The price index for personal consumption expenditure, the inflation index preferred by the Fed increased 0.2% in the month compared to a rise of 0.3%. On the deal front, Calpine Corp is looking for a higher bid from NRG Energy as its largest shareholder urges the two companies to explore merger. J Crew Group fell 21% after it reported earnings.
123jump.com Staff
29 May, 2008
New York City
Sensex index in Mumbai trading declined ahead of the fuel price decision by the government. Sensex index fell 1.3% or 209.11 to 16,316.26. On the NSE the S&P CNX Nifty declined 1.7% or 83.05 at 4835.30. Larsen & Toubro surged 6.6% after it reported revenue rise of 38% and earnings gain of 35% in the quarter ended in March.
123jump.com Staff
29 May, 2008
New York City
U.S. stocks edged higher after the revised estimate of the first quarter GDP showed a rise of 0.9% growth compared to previously estimate of 0.6%. Larger than expected decline in trade deficit lifted the economic growth. Separately Bear Stearns shareholders approved the sale of the company to JP Morgan. Crude oil and gold prices fell sharply. After the close, Dell Inc reported first quarter revenue rise of 9.2% and net income gain of 3.7%.
123jump.com Staff
29 May, 2008
New York City
In London trading, FTSE 100 declined 0.02% or 1.5 to 6,068.10 pulled back by loses in homebuilders. Persimmon dropped nearly 4% after reports that UK home prices fell in May. Of the FTSE 100 index stocks, 41 shares gained, 61 shares declined while 1 stock remained unchanged. UK home prices fell 2.5% in May from April and were 4.4% from a year ago and up 5% from two years ago.
123jump.com Staff
29 May, 2008
New York City
European markets edged lower as home prices in the UK fell, record inflation in Spain and German unemployment edged higher. Annualized inflation in Spain in May rose to 4.7% in May from 4.2% in April. The sharp rise in inflation is fueled by rising energy and food prices. UK home prices fell for the seventh month in a row as more buyers face tighter mortgage lending.
123jump.com Staff
29 May, 2008
New York City
The U.S. economic growth in the first quarter was revised upwards to 0.9% from 0.6% on shrinking trade deficit. The upward revision follows the 0.6% rise in economic growth of 0.6% in the fourth quarter. In addition, the weekly unemployment claims rose at the end of the last week. Costco reported better than expected earnings and Sears swung to a quarterly loss. MasterCard surged after lifting its revenue and earnings guidance.
123jump.com Staff
28 May, 2008
New York City
Mumbai stocks rose after declining for the four sessions in a row. A drop in oil helped market sentiment. Finance Minister Chidambaram refuted that the government is likely to increase income taxe or add a charge to software exports to cover a rising import bill of oil. A sharp rise in international price of crude oil has put government in a tight corner to balance the inflation and keep trade deficit in check. Tata Motors and Mahindra & Mahindra fell after earnings declined.
123jump.com Staff
28 May, 2008
New York City
U.S. stocks edged higher at close after trading volatile in the morning session. Crude oil rebouded after Morgan Stanley followed several brokers in raising its price estimates. Polo Ralph Lauren led the gainers in S&P 500 index with a surge of 12% after it reported better than expected earnings. Durable goods orders in April fell from a year ago but rose when transportation orders were excluded. Brazil led the world market indexes with a rise of 3% on the hopes of higher earnings at banks.
123jump.com Staff
28 May, 2008
New York City
European stocks closed higher despite weak consumer sentiment in France and a rise in inflation in Germany. Consumer sentiment in France was recorded at a two-decade low as rising fuel prices eat in the disposable income. Rising fuel prices is expected to lift inflation in May in Germany. SAP led the gainers in the DAX 30 stocks and Deutsche Post led the decliners in the index. In Cac-40 index CAP Gemini led the gainers and BNP Paribas led the decliners in the index.
123jump.com Staff
28 May, 2008
New York City
In Shanghai trading CSI 300 Index rose 2.80% or 100.03 at 3, 676.23. Daily turnover on main-board was HK$60.21 billion compared with HK$54.49 billion yesterday. Wing Lung Bank lost 3.5% to HK$144.40, the most in two months. The former vice chairman of the Standing Committee of the National Peoples Congress Cheng Siwei said at a three-day forum on economic globalization in Shanghai today that China economy can maintain a steady growth above 8% for a relatively long period.
123jump.com Staff
28 May, 2008
New York City
U.S. stocks struggled in the first hour of trading. Crude oil, natural gas and precious metals fell. Crude oil dipped below $128 a barrel and natural gas declined to $11.75 a thermal unit. Gold traded lower, near $902 an ounce. Transportation stocks rallied as oil continued to slide. Durable goods orders declined from March and from a year ago but rose excluding transportation orders.
123jump.com Staff
28 May, 2008
New York City
The Nikkei 225 Stock Average lost 1.3% to close at 13,709.44 in Tokyo. The broader Topix index declined 1.4% to 1,348.69. Trading companies accounted for large decline in Topix index. The Topix Mining Index saw the steepest decline among industry groups on the index. Aeon Mall Co. climbed 6.2% to 3,450 yen. NEC Electronics added 3% to 2,370 yen, after announcing plans to spend 10 billion yen to double its production capacity for 300-millimeter wafers.
123jump.com Staff
27 May, 2008
New York City
The Nasdaq gained, bolstered by stronger tech stocks such as Google and Apple. U.S. light crude oil for July delivery declined to $129 a barrel. GM lost ground and slashed its 12-month price target due to the weaker sales and higher commodity prices. Ford Motor also had its earnings expectations cut. April new home sales rose 3.3% from a revised reading a month ago. The home price index plunged a record 14.1% in the first quarter. Consumer confidence fell to a 16-year low.