123jump.com Staff
18 Dec, 2007
New York City
U.S. stocks closed higher but traded sideways for the most of the session. Stocks opened higher in the morning after better than expected earnings from Goldman Sachs and Adobe. Best Buy earnings met the expectations and revised the guidance for the year. The European Central Bank auction to offer credit at 4.21% attracted bids of $500 billion from nearly 400 banks in the euro zone. European markets edged higher but brokers declined. Nestle fell on a downgrade. Gold closed above $800.
123jump.com Staff
18 Dec, 2007
New York City
The European Central Bank pumped $500 billion in the banking system as nearly 400 banks in the euro zone bid for the auction. The well-received auction, is the second pre-announced action this year. The bank offered to accept all bids received at a rate higher than 4.21%. The Central Bank received total bids of 377 billion euros between the rates of 4% and 4.45%.
123jump.com Staff
18 Dec, 2007
New York City
Stocks in India fell for the second day in a row after lower closing in global markets. Sensex in Mumbai trading declined 0.9% or 181.7 to close at 19,079. Banks, properties, and infrastructure stocks led the decliners. Tata Power, Sterlite, Unitech, HDFC Bank declined more than 1.8%. In Asia Indonesia, Japan, and Australia closed lower.
123jump.com Staff
18 Dec, 2007
New York City
Stocks in Japan fell for the fifth session in a row on the weakness in financial sector. Nikkei 225 declined 0.3% to close at 15,207.86. However, the broader index Topix dropped nearly 3% to close at 1,469.77. Finance Minister in Tokyo said that Japan will limit bond sales to 25.4 trillion yen in the fiscal 2008. Yen edged lower. Hong Kong, Korea, and Singapore rebounded but India, Indonesia, and Australia declined.
123jump.com Staff
17 Dec, 2007
New York City
U.S. indexes declined after worries of stagflation made rounds on trading desks. Metals, oil, and gasoline prices fell. Nasdaq led the the decline in indexes with a loss of 2.1%. Dow and S&P 500 fell more than 1.5%. Brazil fell more than 4% followed by 3.2% decline in Mexico. In the overnight trading Asian markets fell sharply led by more than 3% decline in India, Hong Kong, Australia, and Singapore. Oil and gold edged lower. European markets declined shaprly led by 1.9% in the UK.
123jump.com Staff
17 Dec, 2007
New York City
U.S. stocks fell on the weakness in financial and real estate stocks and new worries that economic slow-down and rising inflation may crimp profit outlook for the companies. Three large deals failed to excite investors. Ingersoll-Rand agreed to purchase Trane for $10.1 billion, Related Cos received $1.4 billion in debt capital injection, and National Oilwell Varco agreed to purchase Grant Prideco for $7.5 billion. Asian markets closed lower and European markets are down more than 1.5%.
123jump.com Staff
17 Dec, 2007
New York City
Ingersoll-Rand has agreed to purchase Trane Inc for $10.1 billion, including the debt of $150 million. Ingersoll will pay $36.50 cash per share and 0.23 stock for each Trane stock. The transaction is expected to be completed at the end of the first quarter 2008. The combined entity estimates revenue of $11 billion in 2008 and hopes to save annually $300 million for the next three years.
123jump.com Staff
17 Dec, 2007
New York City
Stocks in Mumbai trading fell sharply after traders worried that rising inflation in the U.S. may hurt the global economic growth and limit the future interest rate cuts. Sensex dropped 3.8% or 769 to close at 19,261.35 and led the Asian wide sell-off. Hong Kong, Australia, and Singapore lost more than 3%. Financials, properties, and exporters fell sharply on heavy trading. Nifty, a broader index, fell 4.5% reflecting widespread losses in the market.
123jump.com Staff
17 Dec, 2007
New York City
Stocks in Australia fell sharply on the weakness in financial and mining sectors. Centro plunged 76% after it lowered its earnings and profit distribution guidance. The company balmed on the higher financing cost and current credit market malaise. BHP fell 4% after it said that it has halted its stock buy-back plan to meet regulatory requirements set by te UK takeover panel. Property stocks fell sharply in the session with 26% pluunge in Goodman Group and 18% loss in Valad Property.
123jump.com Staff
17 Dec, 2007
New York City
Stocks in Japan declined as banks were asked to contribute nearly $15 billion from the three largest banks. The news sent shivers in the market and dragged financial and other stocks sharply lower. Nikkei 225 Index lost 1.7% to close at 15,249. In the region, India led the decliners with a plunge of 3.8% followed by more than 3% losses in Australia, Singapore, Taiwan, and Hong Kong. Toyota raised its global production target by 0.5 million units to 9.9 million for the year 2008.
123jump.com Staff
07 Dec, 2007
New York City
European stocks gained across the region led by a rise in UK of 1.1% followed 0.8% gain in Paris, 0.7% rise in Germany, and 0.7% Switzerland. Stocks in Europe rose the third day in a row. Miners advacned as metal prices rose. Xastra surged 8%, Antofagasta added 5%, and Vednata jumped 3%. Arcelor Mittal edged 1.7% higher after the rising metals prices lifted steel stocks as well. Insurance companies edged higher as well.
123jump.com Staff
07 Dec, 2007
New York City
U.S. stocks opened flat to lower after the unemployment report and new jobs creation data. The weak job creation and 4.7% unemployment in November month suggested that the economic growth may be slowing down faster than anticipated earlier. Macrovision is in a deal to buy Gemstar International for $2.8 billion.
123jump.com Staff
07 Dec, 2007
New York City
Stocks in Japan closed higher after losing nearly 1.4% in the afternoon. Nikkei 225 increasesd 0.5% or 82.29 to close at 15,956.37 and Topix added 9.5 to 1,561.76. Of the Nikkei 225 index stocks 114 increased, 71 declined, and 10 were unchaged. Weak domestic demand pulled down the quarterly economic growth to 1.5% from 2.6%. Estimates for the exports in the quarter were revised lower.
123jump.com Staff
06 Dec, 2007
New York City
The Bank of England lowered the rate by 0.5% and the European Central Bank lef the rates unchanged. Mining and banks rose after the rate decision. U.S. stocks advanced on optimism that rate may be lowered next week in the U.S. after the Bank of England lowered the rate by 0.5%. Dow added 1.3%, S&P 500 increased 1.5%, and Nasdaq advanced 1.6%. Deutsche Bank plans to raise dividend, after two-years.
123jump.com Staff
06 Dec, 2007
New York City
U.S. stocks caautiously edged higher after November same-store sales reported a mixed picture. Wal-Mart reported same stores sales increased 1.5% bu that at Target fell by 1%. Nordstorm, Macys, and Saks reported strong sales. The Bank of England lowered rates by 0.5% and the European Central Bank left the rates unchaged.
