123jump.com Staff
12 May, 2008
New York City
UK traded deficit in March narrowed to
123jump.com Staff
12 May, 2008
New York City
European markets edged higher on the strength in energy and steel stocks. ArcelorMittal and ThyssenKrupp led the rise in market averages in Germany and in France ahead of earnings this week. Societe Generale fell after HSBC took a charge of $3.2 billion to cover losses in the U.S. mortgage loans.
123jump.com Staff
12 May, 2008
New York City
U.S. stocks closed higher after Hewlett Packard offered to pay nearly $13 billion for EDS. The offer valued the company nearly 30% higher than market value at the close on Friday. Separately, Ann Taylor revised its earnings outlook. The revision lifted stocks in the retail sector. MBIA closed higher despite it reported $2.4 billion in losses. HSBC set aside $3.2 billion in the first quarter to cover losses related to the U.S. mortgage lending.
123jump.com Staff
12 May, 2008
New York City
U.S. stocks rallied to the high of the day after a steady drop in crude oil prices. Crude oil traded below $125 a barrel. Ann Taylor lifted its earnings outlook for the first quarter. The revised guidance lifted retail sector stocks. Nordstrom, JC Penney and Macy''s gained. Collective Brands, operator of Payless ShoeSource increased after jury awarded $305 million in a trial against Adidas.
123jump.com Staff
12 May, 2008
New York City
U.S. stocks opened higher after MBIA and IndyMac reported losses and HSBC set aside $3.2 billion to cover losses in its U.S. residential mortgage portfolio. China increased bank reserve ratio for the fourth time to curb the rising inflation and India reported weak industrial production gains. MBIA reported a loss of $2.4 billion compared to $198 million a year ago. IndyMac, the troubled bank with a significant mortgage loan exposure raised $97 million for the year so far.
123jump.com Staff
09 May, 2008
New York City
European markets in the region fell after financials and insurance companies declined. AIG, one of the world
123jump.com Staff
09 May, 2008
New York City
AIG swung to a loss in the first quarter after it took a charge of $9 billion in its credit derivative portfolio. The insurance comapany also plans to raise $12.5 billion through stock offering to bolster its capital base. AIG stock fell nearly 9%, as it raced to 10-year low. UK home repossessions rose to a 10-year high. European markets fell more than 1% in the region. Inflation in India and China surged on rising food and energy costs.
123jump.com Staff
09 May, 2008
New York City
UK stocks fell after home repossessions surged, but from a low level in many parts of the island nation. The FTSE 100 index fell 1.05% to 6,204 on weakness in mining, financials and home builder stocks. Crude oil in London and New York trading rose to new intra-day high above $126 a barrel. Experian Group led gainers in the FTSE 100 index with a rise of 3.5% and Carphone Warehouse led decliners with a fall of 7.3%.
123jump.com Staff
09 May, 2008
New York City
Wholesale price index in India fell in the latest period measured two weeks ago. Rising energy and food prices continue to fuel inflation above the target set by the Reserve Bank of India. Sensex index fell 2% to 16,737. Trading on two largest stocks exchanged was 20,000 crore rupees or $5 billion. ICICI Bank, HDFC Bank and State Bank of India fell in trading. Reliance Industries fell 5.2%.
123jump.com Staff
09 May, 2008
New York City
Hong Kong stocks fell on mounting concern over the health of the global economy after Vice Premier Wang Qishan said inflation has evolved as the country
123jump.com Staff
09 May, 2008
New York City
Nikkei 225 index in Tokyo trading fell 2.1% after weak earnings from Bridgestone and weaker outlook from Olympus and Toyota rattled investors. Toyota lowered its net sales and income for the current fiscal year. Bridgestone reported 1% decline in profit. Takeda Pharmaceuticals and Olympus lowered its outlook for the current fiscal year. In stock trading, utilities declined on record crude oil prices. Yokogawa Electric plunged 10% and led decliners in the index.
123jump.com Staff
09 May, 2008
New York City
U.S. stocks fell in the morning trading after AIG reported a large loss and a plan to raise $12.5 billion. AG took a pre-tax charge of $9.5 billion in the quarter on credit market related losses. Crude oil surged to another record high and traded above $125 a barrel. March trade deficit fell to $58.2 billion as imports of oil and automobiles declined. But, deficit for the first quarter remained at elevated level. AIG stock traded near its 10-year low.
123jump.com Staff
08 May, 2008
New York City
Commonwealth Bank of Australia surged 4% after the bank said it no longer needs additional capital. Recently the bank completed the $15.6 billion of wholesale funding. The news lifted stocks of other banks and helped ASX 200 to close higher. National Australia Bank Ltd, which reports its interim results on Friday, gained 1.6%, ANZ stock shed 0.6% and Westpac rose 3.6%. The troubled mall real estate operator Centro Retail obtained debt extension till the end of the year on additonal guarantees.
123jump.com Staff
08 May, 2008
New York City
The European Central Bank and the Bank of England left rates unchanged as inflation hovers near or above target level. Unlike the Federal Reserve in the U.S., central banks are hawkish in Europe when it comes to inflation. Recent surge in crude oil price and worldwide food price surge have fueled inflation and fears of wage inflation. InBev, UniCredit and Raiffeisen International fell on earnings. Barclays, Royal Bank of Scotland and Commezbank fell after the rate decision.
123jump.com Staff
08 May, 2008
New York City
U.S. stocks rose in the hope that a rise in April retail same store sales may continue for the rest of the year. Jobless claims at the end of last week dropped by 18,000. In Europe, the ECB left its key rate unchaged at 4% and the Bank of England left its rate at 5%. Both central banks appear to combat rising inflation. April housing starts in Canda fell 12%. Toyota fell after it offered gloomy earnings and sales outlook. News Corp earnings surged on asset swap.
