123jump.com Staff
15 May, 2008
New York City
U.S. stocks opened modestly higher. Barclays in its interim report suggested that the first quarter earnings will be lower than in the quarter a year ago and took a charge of
123jump.com Staff
15 May, 2008
New York City
CNET Networks, Inc agreed to be acquired by CBS at $11.50 per share or $1.8 billion. The technology and tech news publisher had regained its footing after the tech bubble in the late nineties. In the year 2007 the company had reported revenue of $406 million and earnings of $177 million. CBS locked in a competitive struggle with News Corp has been acquiring Internet properties to increase its audience reach.
123jump.com Staff
14 May, 2008
New York City
Stocks in Australia rose after BHP Billiton surged 6% to a record high on a speculation that Chinalco may take a stake in the company. The rampant speculation lifted stocks of other mining companies. ABC Learnings addded 5.4% after the government offered to pay more for childcare to families with income of less than $150,000. Woodside Petroleum completed its acquistion of North West shelf interest.
123jump.com Staff
14 May, 2008
New York City
European markets edgged higher after a wave of earnings from Vivendi, ArcelorMittal, ING, Societe Generale, EADS and ThyssenKrupp. ArcelorMittal earnings rose 5% to $2.4 billion and ThyssenKrupp profit jumped 106% to 502 million euros. ThyssenKrupp revenue rose 1% to 13.2 billion and ArcelorMittal revenue increased 22% to $30 billion. Steel prices are expected to rise in the second half of the year as Arcelor raised prices and ThyssenKrupp hinted of price increases.
123jump.com Staff
14 May, 2008
New York City
U.S. stocks rose at close but lost most of their gains by the end of the day. Tech stocks declined in afternoon after Nasdaq index rose nearly 1.4% by mid-day. Stocks rallied after a benign inflation report in the morning and Freddie Mac gained market share and reported smaller than anticipated loss. Home builders advanced. In the regional trading, Mexico gained more than 1% and European markets edged higher. Inflation indexes in China, India and UK gained in the latest read.
123jump.com Staff
14 May, 2008
New York City
Stocks in Japan traded in positive territory after NTT and Astellas Pharmacies increase dividends and share buyback. In Tokyo trading Nikkei 225 rose 1.18% or 164.82 at 14,118.55, and the broader Topix Index increased 1% or 12.99 at 1,373.04. The Bank of Japan reported that the Domestic Corporate Goods Price Index rose 3.7% from a year ago at 107.3 after adding 3.9% in March.
123jump.com Staff
14 May, 2008
New York City
China reported a raft of economic data suggesting that the economy continues to grow at a rapid clip. April industrial output rose at 15.7% and international trade rose at 24% in the first four months of the year. Despite a rise in wholesale inflation at 10.3%, retail sales surged at 22% in April from a year ago. However a sharp rise in food and energy costs is hobbling the consumer. In stock trading, Hong Kong Exchanges & Clearing fell after it reported earnings rise of 79%.
123jump.com Staff
14 May, 2008
New York City
The Bank of England inflation report suggested that pressures on inflation are rising as credit market remains tight. Separately the governor of BOE said that inflation may rise above 3% for several quarters. Shareholders of Royal Bank of Scotland approved
123jump.com Staff
14 May, 2008
New York City
Mumbai stocks rose after a rise in IT and metal stocks. Rupee fell to a 13-month low to 42.44 against one dollar as rising crude oil import worries investors. Software exporters gained on rupee weakness. Metal and steel companies added in the trading after the government said it is considering industry request to review duties on metal exports. Cement companies fell on the worries that recent price weakness and rising new capacity will hurt the industry margins.
123jump.com Staff
14 May, 2008
New York City
U.S. stocks advanced in the morning trading as inflation measure showed a smaller than expected rise in April. Monthly inflation rose at 0.2% according to the government. However most consumers feel the pain of rising food and energy costs. Deere & Company fell after earnings rose 22%. Whole Foods dropped 10% after quarterly earnings declined. Markets in Europe, Asia and Mexico traded higher.
123jump.com Staff
13 May, 2008
New York City
Foreing direct investment in China rose 60% in the first four months of the current year. Investors have been untilising the foreign investment approval but the number new manufacturing units declined. China is expected to impose minimum wage rule as of June 2008. A number of companies have also relocated to India and Vietnam as labor costs rise in China. Trade surplus in April declined 1% to $16.6 billion, a rise of 25% from March of this year.
123jump.com Staff
13 May, 2008
New York City
Japan stock indexes advanced on strong earnings results and forecasts from Fujitsu and Isuzu. Isuzu Motor Corp also reported yesterday that it expects net profit to rise 13.2% to 85 billion yen from 71 billion on higher sales in countries that produce raw materials. Fujitsu forecasts net income for the year will rise 107% to 100 billion yen from 48 billion in the fiscal 2007.
123jump.com Staff
13 May, 2008
New York City
London stock indexes declined after a government report showed that inflation rose from 2.5% in March to 3% in April and on news that the government expects house prices to fall between 5% and 10% this year. In London trading FTSE 100 fell 0.14% or 8.7 to 6,211.90. Alliance & Leicester fell 10% after saying in a statement today that writedowns topped
123jump.com Staff
13 May, 2008
New York City
Indian stocks on Wednesday reversed early session gains to settle lower in a mixed trade. In Mumbai trading, the 30-share BSE Sensex fell 0.6% or 108.04 at 16,752.86. On the NSE, S&P CNX Nifty fell 1.1% or 54.85 at 4,957.80. Of the Sensex shares, 21 shares gained and 9 shares fell. Of the BSE traded shares, 1,366 shares advanced, 1,341 shares declined while 76 shares remained unchanged.
123jump.com Staff
13 May, 2008
New York City
European stocks closed higher after the release of earnings from banks Fortis and Societe Generale. SocGen fell after it reported another write down of assets related to credit markets of 1.45 billion euros and 23% decline in earnings. Fortis reported a a decline in earnings of 30% to 808 million euros and reported a mark down of 4.9 billion euros. Credit Agricole earnings falls more than 50% to 892 million euros.
