123jump.com Staff
04 Sep, 2008
New York City
Stocks in Mumbai trading fell as investors seek to take profit after a recent surge of benchmark by 10%. The fall in crude oil prices had powered the recent rebound in indexes and widely held stocks. Tata hopes to launch much anticipated small car Nano on or near initial launch schedule despite daily demonstration at its plant in West Bengal. UCO Bank plans to raise 600 crore rupees by the end of this year.
123jump.com Staff
04 Sep, 2008
New York City
U.S. stocks fell sharply in the morning trading after retailers reported mixed same store sales. Non-farm productivity rose at 4.3% in the second quarter compared to 3.4% rise in the quarter a year ago. Discounters reported rising same store sale in August but at apparel retailers sales declined. Ciena fell 20% after it forecasted weak sales growth for the year.
123jump.com Staff
03 Sep, 2008
New York City
U.S. stocks closed lower led by a decline in energy, mining and technology stocks. The Bank of Canada left its key rate unchanged at 3% and Australia reported weak economic data for the second quarter. Euro zone economy in the second quarter shrank at 0.2% from the first quarter and retail sale in July fell 0.4%. Coca-Cola Company agreed to acquire China Huiyuan Juice Group for HK$19.6 billion or $2.5 billion. For the third day in a row, Brazil fell more than 1% and led decliners in the region.
123jump.com Staff
03 Sep, 2008
New York City
Stocks in Sydney fell as oil and commodities prices declined for the second week in a row. The price of oil had surged nearly 100% from last June to $147 a barrel in July of this year before declining to $108 a barrel today
123jump.com Staff
03 Sep, 2008
New York City
Coca-Cola Company agreed to acquire China Huiyuan Juice Group for HK$19.6 billion or $2.5 billion including convertible bonds and diluted shares. The agreement values the juice maker at HK12.20 a share, nearly three times is most recently traded price near HK$4.10 a share. The offer values the company at 17 times operating earnings of 2007.
123jump.com Staff
03 Sep, 2008
New York City
Japan stocks edged higher after crude oil declined in the region to a three-month low. A steady decline in oil and natural gas prices in the last five trading session lifted stocks of consumer goods, retailing and paper and tire manufacturing companies. Mitsubishi UFJ may increase its stake in consumer lender Acom to 40% from 15%.
123jump.com Staff
03 Sep, 2008
New York City
U.S. stocks edged lower as crude oil prices fell below $108 a barrel. Base and precious metals prices declined dragging stock benchmarks in Canada and UK lower. The Bank of Canada left its key rate unchanged at 3% and Australia reported weak economic data for the second quarter. Euro zone economy in the second quarter shrank at 0.2% from the first quarter and retail sale in July fell 0.4%.
123jump.com Staff
02 Sep, 2008
New York City
U.S. stocks failed to follow on early gains after a 2-day drop in oil of 10%. Weak energy and commodities sector stocks dragged benchmark indexes lower. The commodities linked economies and stock markets in Canada, Brazil and UK fell sharply. Indian stocks rallied on a sustained drop in oil as expectations of lower inflation drove indexes higher. Most banks in China reported 50% or better earnings gain in the first half, but further earnings gains are likely to be modest.
123jump.com Staff
02 Sep, 2008
New York City
Stocks in Hong Kong rose and in Shanghai fell as crude oil continued its slide for the second day in a row. Airlines and refineries rose and port operator China Merchants added 4.4%. China Merchants Holdings first half profit rose 42% to HK$2.02 billion and revenue rose 18% to HK$3.37 billion. The port operator with locations in Hong Kong and in China reported rising ocean traffic to Asia and to Europe. The company through several ventures control ports that handled 25.1 million containers.
123jump.com Staff
02 Sep, 2008
New York City
Stocks in Japan tracked losses in commodities prices and fell 1.75%. A two-day sharp fall in crude oil prices dragged oil prices down nearly 10%. Inpex Holdings led decliners in the Nikkei 225 index shares with a fall of 6.7% followed by losses in Toho Zinc of 6.2%, in Takashimaya of 6%, in Nippon Sheet Glass of 5.9%, and GS Yuasa Corp. of 5.2%. Japan is increasingly likely to head for a national election as voters demand a change and faster political actions.
123jump.com Staff
02 Sep, 2008
New York City
UK stocks struggled to close higher and pound fell for the sixth day in a row against euro and dollar. A sharp drop in crude oil prices for the second day in a row with a total loss of 10% dragged stocks in the mining and energy sectors which dominate the benchmark FTSE 100 index. UK pound fell as investors worry that economy will remain in slump for the rest of the year. Ashtead Group, the equipment rental company surged 9% after it reported better than expected sales and earnings gains.
123jump.com Staff
02 Sep, 2008
New York City
Indian stocks rose sharply with a drop in crude oil prices for the second day in a row. Oil in two days fell 10% and traded as low as $108 a barrel. Further losses are expected in the oil prices and may test $100 level in the next three weeks. Stocks responded with sharp gains. Sensex and CNX Nifty added more than 3.5%. Banks and realty stocks surged with a decline in crude oil prices. Kotak Mahindra Bank rose 10%, State Bank of India gained 7.5% and Jet Airways increased 9.6%.
123jump.com Staff
02 Sep, 2008
New York City
U.S. stocks edged more than 1% after a drop in crude oil price. The oil prices fell more than 6% after dropping 4% yesterday. Other commodities prices fell as well dragging stocks of oil and metals mining companies. Transportation stocks rose. UAL, AMR, Delta and railroad companies reached higher. The Reserve Bank of Australia cut its key lending rate by 25 basis points for the first time in seven years.
123jump.com Staff
01 Sep, 2008
New York City
Crude oil futures fell after the slow moving storm Gustav in the Gulf of Mexico was estimated to cause less damage than feared. The British pound fell to a two-year low to below $1.80 after mortgage approvals fell and manufacturing index showed a contraction. India exports in July increased 31.2% from a year ago to $16.3 billion after increasing at 23.5% in June. Japan auto sales in August declined and are likely to fall for the year, Toyota and Nissan sales fell but Honda sales increased.
123jump.com Staff
01 Sep, 2008
New York City
Hong Kong stocks fell led by technology companies after personal computer maker Dell fiscal second quarter profit slumped 17%. Aluminum Corporation of China Limited, the largest producer of aluminum said first-half revenues dropped 64.08% to Rmb3.5 billion. Net profit in the quarter declined 65.56% to Rmb2.4 billion or Rmb18 per share.
