123jump.com Staff
21 May, 2008
New York City
Rising crude prices dominated trading sentiment in the European markets. However, German business confidence index rose in May and outlook for the six months appear positive according to the businesses surveyed. German businesses and economy is able to withstand strong euro as exports remain strong to the Middle East and Asia. In Germany, the DAX 30 declined 1.1% or 74.4 and the French CAC 40 lost 0.7% or 22.60.
123jump.com Staff
21 May, 2008
New York City
Stocks in India fell as inflation continue to hover near 3-year high, crude reached another record and weak rupee against dollar. Sensex fell 13 points to 17,243. Daily turnover on the BSE stood at 7,077 crore rupees and on the National Stock Exchange the turnover was recorded at 15,279 crore rupees. The RBI approved the merger between HDFC Bank and Centurion Bank of Punjab. Rupee fell to 42.83 against the U.S. dollar.
123jump.com Staff
21 May, 2008
New York City
Crude oil futures, near and long term rocketed past $140 a barrel as speculators expect prices to reach $190 a barrel. Rising consumption of crude oil in the U.S., China and India is expected to lift the demand above 85 million barrels a day by 2012. However, world crude oil supply has been relatively stable near that level. Lack of new crude supply in the market and the occupation of Iraq are contributing to the sustained rise in oil prices.
123jump.com Staff
21 May, 2008
New York City
U.S. stocks struggled after the release of weekly petroleum report. Crude oil surged above $132 a barrel on the decline in crude oil supply at the end of the last week. Airlines stocks fell after AMR, the parent of American Airlines decided to lower 12% of its capacity and retire 75 planes. AMR suggested $15 fee for each checked bag. UAL plunged 25% and Delta and Jet Blue declined as well.
123jump.com Staff
20 May, 2008
New York City
Mumbai stocks fell after the worries of the rising inflation and crude oil prices kept investors cautious. Comments from the Governor of RBI suggested that rates may be raised to combat inflation that may be higher than tracked by the indexes. Suzlon, the largest wind turbine manufacturer reported 29% rise in earnings o 69% rise in sales. Rising crude oil prices forced rupee lower to 42.59 against the U.S. dollar.
123jump.com Staff
20 May, 2008
New York City
Stocks in the U.S., Europe and Asia fell on inflation worries and rising crude oil prices. April wholesale inflation rise sparked fears of inflation in the U.S. and dragged the stocks lower. Home Depot, Saks, Target, Autozone fell on earnings. European markets declined as crude oil hovered near $130 a barrel, a new record. UK dropped nearly 3% on the worries that housing market fall may bring more losses to mortgage lenders and banks.
123jump.com Staff
20 May, 2008
New York City
European markets closed lower across the region led by a sharp decline in the UK and Swedish indexes. Crude oil prices reached another record above $129 a barrel, sparking fears of sustained inflation in the region. DAX 30 index in Germany and CAC 40 index in France dropped 1.5% and 1.7% respectively. German confidence fell on worries related to strong euro and rising inflation dominated the news. Auto sales in European markets rose nearly 10% in April.
123jump.com Staff
20 May, 2008
New York City
Crude oil in London traded at t record high, sparking fears of rising inflation in the region. Crude oil prices have risen nearly 30% in the last three months when valued in the U.S. dollar and nearly 18% in euro. The prediction of higher crude oil prices put investors on the defensive. Commodities related stocks fell after a broker encouraged investors to trade out of the sector for now. BHP Billiton, Rio Tinto and Antofagasta fell on profit taking.
123jump.com Staff
20 May, 2008
New York City
U.S. stocks turned lower after April wholesale inflation rose. The rise in inflation put investors on the defensive. Crude oil price surged above $129 a barrel after comments from oil complex investor T Boone Pickens. His comments suggested that the crude oil price may reach higher than $150 a barrel. European markets closed sharply lower led by 2.4% fall in the UK and Sweden. Brazil and Mexico trade lower.
123jump.com Staff
20 May, 2008
New York City
Stocks in Japan declined on the worries that the current U.S. credit market malaise in the U.S. could drag earnings of Japanese companies. Nikkei 225 index fell 0.8% to 14,160. According to a report issued by the Ministry of Industry and Trade, demand for services in March rose 0.3% after a revised demand increase of 1.6% in February. The Bank of Japan left its key interest rate at 0.5% and said that corporate profits are leveling and economic growth is slowing on rising commodities prices.
123jump.com Staff
20 May, 2008
New York City
U.S. stocks are expected to open lower as crude continue to climb higher and worries related to credit market resurface. European markets at mid day are down between 1% and 1.5% and Asian markets closed lower across the region. Home Depot reported sharply lower earnings on 6.5% fall in same store sales, however, DryShips revenue in the quarter jumped 62%.
123jump.com Staff
19 May, 2008
New York City
European markets edged higher on the rise in commodities and energy prices. The steady rise in the commodities for the thrird week in a row lifted stocks in the sector. Steel companies edged higher as Nippon Steel in Japan is expected to pass on 25% steel price hikes to Toyota and Mitsubishi Heavy. The Bank of France lowered its second quarter economic growth target to 0.3%, half the rate in the first quarter. Milan market index falls 2.1% after the dividend payout.
123jump.com Staff
19 May, 2008
New York City
U.S. stocks closed mildly higher after rallying in the morning. The index of leading indicators rose 0.1% in Apri lifting stocks in the morning and several brokers recommended buying tech and transportations stocks. The morning rally failed to take hold in the afternoon and tech stocks closed lower. Union Pacific, Norfolk southern and Burlinton Northern closed higher. SanDisk fell after the company confirmed softness in April sales.
123jump.com Staff
19 May, 2008
New York City
Chinese coal and other mining companies rose as crude oil price rise lifted spot prices of coal and metals. The earthquake damage and three month old snow storms have put the food and energy supply at a risk in the mainland China. Vegetables, fruits and other food priced have surged and now metal and crude oil prices are rising rapidly. CSI 300 index in Shanghai trading fell 0.6% but Hang Seng index rose 0.5%.
123jump.com Staff
19 May, 2008
New York City
Japanese steelmakers joined the world steel makers in passing higher coal and iron ore prices from Australia and Brazil to automakers in Japan. The sharp revision in steel prices is expected to be effective in the latest negotiations between Nippon Steel and Toyota and Mitsubishi Heavy. Australian iron ore miners have lifted prices of ore by more than 250% in the last five years and now coal prices have jumped 150% in the last two years. Weak U.S. dollar has also contributed to the price hike.
