123jump.com Staff
26 Dec, 2007
New York City
Asian stocks closed higher on optimism of better than expected sales during the holiday period in the U.S. and rising expectations of earnings for the current quarter. India and Indonesia led the region on local buying. Dollar edged higher against yen but bearish outlook for the dolar continued for the year 2008. Australia and Hong Kong markets were closed today.
123jump.com Staff
24 Dec, 2007
New York City
European stocks closed higher led by a rise in FTSE 100 in London trading of 0.7%. Intensa Sanpaolo agreed to a settlement of 420 million euros with Parmalat over its 14 billion debt fraud and subsequent bankruptcy filing. Capgemini rose 11% after news report that India based wipro may bid for the consulting company. Miners and defense stocks rallied in London. All-business class airline MAXjet filed for bankruptcy protection in the wake of competition from American Air and higher fule cost.
123jump.com Staff
24 Dec, 2007
New York City
U.S. stocks edged higher after a rally in retail and financial brokerage stocks. Merrill Lynch sold it commercial finance division to General Electric and receed a total of $6.2 billion investment from Singapore and Davis Fund. The news on the investment lifted brokerage stocks. Retail stocks rallied on the hopes that holiday sales looked better than earlier forecats. Oil jumped above $94 a barrel. Asian and European markets closd higher.
123jump.com Staff
24 Dec, 2007
New York City
Merrill Lynch added 4% after asset sale and investment from two investors. Merrill sold its commercial finance division to General Electric with asset base of $10 billion. Merriill expects the sale will allow it to deploy $1.3 billion for other activities. Merrill also accepted $4.4 billion in investment with one-year lock up from Singapore controlled fund with an option to add $600 million more. Davis Advisors controlled fund has agreed to purchase $1.2 billion in stocks.
123jump.com Staff
24 Dec, 2007
New York City
The U.S. averages advanced led by the optimism that holiday retail sales will be better than earlier forecasted. Nasdaq, Dow, and S&P 500 inched 0.5%. Merrill Lynch added 4% after it received investment from Singapore and Davis Fund in New York. Target added 2.5% after activist investor Ackman raised his stake in the company to 10% from 9.6%. Asian markets surged led by a sharp rise in India, Hong Kong, and China.
123jump.com Staff
24 Dec, 2007
New York City
Asian markets closed sharply higher led by a surge in India, Hong Kong, and Shanghai. India soared 3.6% on the strength in local election victory of pro-business party BJP. Banks and infrastructure stocks gained. Property stocks in Hong Kong advanced after talks of another interest rate cut in the U.S. made rounds. Brokerage stocks led the rise in Shanghai trading. Mining stocks led the rise in Australia.
123jump.com Staff
21 Dec, 2007
New York City
European markets advanced for the second day in a row after metal and energy prices advanced. Philips agreed to buy Respironics for 3.6 billion euros and Russia based Vimpel Communication purchased Golden Telecom for $4.3 billion. Alitalia management favored a bid from Air France-KLM Group over that from domestic emerging carrier Air One. British pound fell to a 8-year low against euro on the interest rate outlook. France and Germany led the gaiers in the region with a rise of 1.7%.
123jump.com Staff
21 Dec, 2007
New York City
ASX 200 index fell 1.1% or 70 to close at 6,4247. Largest explosive maker, Orica plans to expand its explosive manufacturing capacity after the rival Dyno Nobel stops from buidling another plant. Japanese investor paid A$202 million for Park Hyatt hotel managed by fund management company MFS. Centro Properties Group fell further after it said that it plans to sell asset to cover debt obligations.
123jump.com Staff
21 Dec, 2007
New York City
U.S. stocks clsoed sharply higher on takeover deals of $10 billion earnings from RIM. Nasdaq led the three popular indexes with a rise of 1.9% followed by increases in S&P 500 of 1.7% and in Dow Jones of 1.6%. Tech stocks rose for the second day after Research in Motion reported 100% rise in sales and earnings. Gold jumped $12 and oil closed above $93 per barrel. Circuit City plunged 27% after reporting wider loss. walgreen surged 6% after reporting higher earning
123jump.com Staff
21 Dec, 2007
New York City
Vimpel Communication, first Russian company to list on the New York Stock Exchange, agreed to buy voice and telecom services provider Golden Telecom. Vimpel is the largest mobile telecom operator in Russia and CIS countries and Golden Telecom operates in several cities in Russia and neighboring countries. Vimpel jumped 3% after the news of the deal and Golden Telecom increased 2%.
123jump.com Staff
21 Dec, 2007
New York City
Philips Electronics has agreed to pay $5.1 billion or $66 per share of Respironics. Respironics provides treatment for sleep disorders which are estimated to affect 6% of the population in the U.S. Philips home healthcare division has made a number of acquisition this year and now care about one million people through various services in the U.S.
123jump.com Staff
21 Dec, 2007
New York City
U.S. stocks opened higher after solid earnings from Research in Motion and talks of investment of $5 billion in Merrill Lynch from Singapore sovereign fund Temasek. S&P 500, Nasdaq, and Dow rose more than 1% in the morning trading. Circuit City plunged after it reported loss of more than $200 million. Walgreen jumped 7% after it reported higher earnings.
123jump.com Staff
21 Dec, 2007
New York City
Asian markets closed higher after four days of sell-off and weak financial sector in the region. Infrastructure, metals, and energy sectors advanced in the region. Nikkei 225 index in Tokyo added 1.5% but lost 1.7% for the week. Sumitomo Metals and China Steel are in joint venture to build a steel plant in Vietnam. India and Indonesia were closed to observe local holiday. Singapore based sovereign fund Temasek is likely to invest $5 billion in Merrill Lynch.
123jump.com Staff
21 Dec, 2007
New York City
Stocks in Japan rose for the second day in a row but declined for the week. Nikkei 225 Index rose 1.5% to 15,257 today but lost 1.7% for the week. The Bank of Japan said in its monthly report that slow-down in construction industry has hurt the economic growth. Toshiba gained after Sharp was reported to buy more digital chips from Mitsumi Electric Company. Sumitomo Metal and China Steel joint venture will build a steel plant in Vietnam.
123jump.com Staff
20 Dec, 2007
New York City
UK economy in the third quarter expanded by 0.7% lower than 0.8% expansion in the second quarter. The UK economy has expande at 3.3% from the third quarter of the last year on steady growth in business and financial services. Household expenditures and construction were the contributors to the economic expansion. Johnson Matthey soared as high as 19% on the speculation that Dow Chemical will make a bid for the company. UK anti-trust regulator said that BSkyB should reduce its stake in ITV.
