123jump.com Staff
29 Oct, 2007
New York City
Markets in Asia surged led by a sharp rise of 3.9% in Hong Kong and India. Banks and financial stocks rallied in Hong Kong. Infrastructure stocks led the index in India. Financials and ship builders led the index in Tokyo. September retail sales in tokyo edged higher. Nissan soared 14% after reporting better than expected operating earnings and sales. Nippon Yusen jumped 8.5%. Resource stocks in Australia led the index higher.
123jump.com Staff
26 Oct, 2007
New York City
U.S. stocks rallied at the opening and closed higher on better than expected earnings from Microsoft. Countrywide, the mortgage lender in the center of the subprime storm, reported third quarter loss of $1.2 billion but forecasted profit in the fourth quarter. For the week, Nasdaq jumped 2.9%, S&P 500 added 2.3%, and Dow up 2.1%. Bovespa Exchange in Brazil soared 52% on the first day of trading. Mexico raised its interest rate by 0.25% to 7.25%. Dollar edged to a record low against euro.
123jump.com Staff
26 Oct, 2007
New York City
U.S. stocks edged higher on stronger than expected earnings from Microsoft and profitable outlook from Countrywide Financial. Microsoft reported third quarter earnings rise of 24% and sales increae of 27%. Microsoft stoc surged 10% near $35, high not seen since July 2001. Countrywide reported third quarter loss of $1.2 billion, first quarterly loss in 25 years. Crude oil edged higher to a new peak. European and Asian markets closed higher.
123jump.com Staff
26 Oct, 2007
New York City
Countrywide Financial, the company at the center of the subprime mortgage storm, reported its first quarterly loss in 25 years. The company lost in the third quarter $1.2 billion or $2.85 per share. The mortgage loan origination declined to $90 billion in the quarter from $106 billion a year ago and from $123 billion in the second quarter. Countrywide said that 90% of its loan funds are now sourced through depositors at the bank and not from the capital markets.
123jump.com Staff
26 Oct, 2007
New York City
Tokyo stocks regained their footing as Nikkei 225 index increasd 1.4% to 16,505.63 on a recovery in banking stocks. Honda and Sony jumped nearly 9% after reporting sharply higher than expected earnings. Nissan reported sales increase of 12% and operating income rise of 13% on better sales in Middle East, Russia, and China. Sales in China rose 25% and in Middle East jumped 21%. Sales in Japan fell 7%. Sharp rise in oil lifted energy stocks. Daiwan Securities profit declined 14%.
123jump.com Staff
25 Oct, 2007
New York City
The Securities and Exchange Board of India clarified the rules for foreign investors and account registration. The so called P-notes, a popluar form of investment used by unregistered investments will have to unregistered in the next eighteen months. Non-profit organizations and pension funds will be required to register with the SEBI.
123jump.com Staff
25 Oct, 2007
New York City
Sensex in Mumbai trading increased 1.39% to close at another record high of 18,770.89. In broad based buying stocks in infrastructure, real estate, and banking sector led the gainers. After the close SEBI, regulatory arm of the Finance Ministry of India released rules for P-notes. Cipla profit increased 5.7% but at Reddys profit declined 5%.
123jump.com Staff
25 Oct, 2007
New York City
Stocks in Australian traded lower for a second day led by BHP Billiton and Australia and New Zealand Bank. ASX 200 index declined by 0.2% to close at 6,624.30. ANZ said it is likely to raise mortgage rates despite a warning from the Prime Minister John Howard and his Deputy Mark Vaile not to do so. Zinifex recorded 13% jump in zinc production. Australian dollar gained.
123jump.com Staff
25 Oct, 2007
New York City
Stocks in New York caught in volatile trading, closed nearly unchanged after losing 1.5% and rising 0.5%. Record close in oil helped indexes to lose momentum. Sony, Aetna, Motorola, VMware, Black Decker, and Express Script jumped; Cummins, Big Lots, Zimmer Holdings fell after reporting earnings. Mortgage insurers fell for the second day. In Europe telecom stocks rallied after France Telecom lifted sales guidance. Third quarter economic growth in China was reported at 11.5%.
123jump.com Staff
25 Oct, 2007
New York City
Stocks in the UK advanced on a rise in telecom and retail stocks but financial stocks declined. FTSE 100 index increased 1.4% to 6576.30 on borad advance in index stocks. Vodafone and BT gained after France Telecom issued a beter than expeted guidance. Scottish & Newcastel rejected a joint offer from Carlesberg and Heineken. The consortium has offered 6.8 billion pounds. Royal Dutch Shell reported 16% increase in earnings.
123jump.com Staff
25 Oct, 2007
New York City
Stocks in early trading in New York rose and then fell after weaker than expected durable goods order report for September. In the month, orders declined 1.7% and August month orders were lowered to 5.3% decline. Sony and Honda reported better than expected earnings. Aetna earnings increased 12% on 11% rise in revenue. VMware earnings tripled on revenue rise of 100%. Aegean Marine shareholders plan a secondary offering of 6.5 million shares.
123jump.com Staff
25 Oct, 2007
New York City
China reported third quarter economic growth of 11.5% surpassing earlier estimate of 10.5% by the most economists in the region. Rising trade surplus and strong investments in industrial facilities and real estate lifted the economic growth to peak level. China is likley to face more pressure to revalue its currency and raise interest rates. Separately ICBC, the largest bank in China reported 76% jump in earnings.
123jump.com Staff
25 Oct, 2007
New York City
Stocks in Japan fell on the weakness in financial stocks and worries that the ongoing correction in U.S. housing market may generate more losses for banks in Japan. Nikkei 225 index fell 0.5% for the second day to close at 16,284. Nomura reported a loss of $620 million in the U.S. subprime loans and Mizuho Financial is liklely to declare a loss in the sector as well. Net income at Sony increased and Hond lifts its estimate for the fiscal 2008.
123jump.com Staff
24 Oct, 2007
New York City
UK stocks lost morning gains in the afternoon on weak earnings from Glaxo and lowered production output from Kazakhmys. Wider than expected mortgage trading related loss at Merrill Lynch also affected the sentiment. FTSE 100 index closed 0.5% lower to close at 6,482. Of the 102 stocks in the index, 32 closed higher and 67 declined. Home Retail Group earnings tripled. Glaxo reported weaker than expected earnings and Kazakhmys copper production was lower than anticipated.
123jump.com Staff
24 Oct, 2007
New York City
U.S. stocks fell at the opening on the larger than estimated loss from Merrill Lynch in the asset based lending and fixed income trading business. The size of the loss, $8.5 billion took market by surprise. Existing home sales in September fell 8% to 5.04 million annual rate, lowest level since 1999 on fewer loans and high inventories. After the earnings reports, Broadcom, Amazon.com, Legg Mason, Moodys, Merrill Lynch, and National Oilwell declined. European markets closed lower.
