123jump.com Staff
10 Oct, 2007
New York City
Australian stocks closed at a record high led by gold mining stocks and strength in retail and banking sectors. ASX 200 increased 0.9% or 60.50 to close at 6,738.30. BHP Billiton jumped 2.3% and Rio Tinto added 0.9%. Mitsubishi controlled Murchison Metals launched a surprise bid for Midwest controlled by Sinosteel. The offer with a 34% premium is desinged to get a control of proposed port to be built in the Western Australia.
123jump.com Staff
10 Oct, 2007
New York City
Market averages declined in the first hour of trading after mixed earnings news. Monsanto reported wider loss compared to a year ago and lowered its guidance for the next year. Chevron and Valero reported that earnings in the quarter will be substantially lower from a year ago on weak refining margins. Costco jumped 8% after reporting earnings rise on higher sales. Cadbury Schweppes said that it will spinoff its beverage business rather than look for a buyer.
123jump.com Staff
10 Oct, 2007
New York City
Tokyo stocks gained a fraction after an early morning rally was trimmed with losses in banks, financials, and insurance companies. Retailers, energy, and air transportations led the gainers in a narrow rally. Broader market declined in the first and second section. Metals and mining companies led the gainers. Yamazaki plans to raise food prices after seventeen years reflecting rising cost of food ingredients.
123jump.com Staff
09 Oct, 2007
New York City
U.S. stocks closed higher after the Fed minutes showed that the Fed believes inflation is under control and is prepared to act to support economic growth. The 50 basis points rate reduction is widely percieved as a gift to Wall Street. The preemptive action by the Fed was partly based on weak August employment report which was revised to 89,000 new job additons from a decline of 4,000 after the rate cut. European and Asian markets closed higher. Oil rebounded.
123jump.com Staff
09 Oct, 2007
New York City
The surge of 4.5% in the Sensex Index in Mumbai, India led the global markets. The possibility of an agreement between two factions in the ruling coalition, led investors to bid up stocks. Every member in the Sensex index of 30 stocks gained. S&P projected eocnomic growth of 9% in 2007 and 8.8% in 2008 in India. Reliance Industries jumped 8% and Reliance Energy soared 11%. Bharti Telecom and Maruti Suzuki jumped as well.
123jump.com Staff
09 Oct, 2007
New York City
Asian stocks rallied led by a sharp rise of 4.5% in India. China, Hong Kong and other smaller markets in Asia gained as well. Nikkei 225 in Japan increased 0.6% to 17,159.90 on the strength in real estate and exporters. Weak metal prices hurt steel and other metal companies. The Bank of Japan started its three-day meeting to decide the interest rate. Toray Industries, carbon fiber products maker, decided to expand its capacity in Japan and spend 25 billion yen.
123jump.com Staff
09 Oct, 2007
New York City
Molson Coors and SAB Millier have agreed to merge their U.S. operations into a new company called MillerCoors with sales of $6.6 billion. As more people prefer craft or imported beer and choose wine over beer, beer companies are consolidating at a rapid pace. SLM sued its bidders and asked to carry out the bid at $60 per share or pay $900 million. India surged 4.5% to a record high and led Asian markets. European markets are trading higher. Stocks in New York are indiacting higher opening.
123jump.com Staff
08 Oct, 2007
New York City
Stock markets in New York closed mixed. In the U.S., Textron agreed to purchase United Industrial for $1.1 billion. In Europe, SAP agreed to acquire Business Objects for 4.8 billion euros, Vodafone acquired telephony business in Spain and Italy of Tele2 AB of Sweden, Shire Pharmaceuticals sold its eight drugs portfolio to Almirall of Spain. The largest bank takeover, ABN Amro shareholders approved the bid of 72 billion euros or $101 billion from RBS led investor group.
123jump.com Staff
08 Oct, 2007
New York City
UK stocks declined 0.8% led by a weakness in mining and metal stocks. RBS led group received shareholder approval for its 72 billion euro bid for ABN Amro. The three-bank led group will carve out the operations in Brazilian and Italian unit, Dutch business, and investment banking and Asian operations. Northern Rock jumped 8% on the news that Citigroup is liklely to arrange 10 billion pound financing.
123jump.com Staff
08 Oct, 2007
New York City
Sensex in India declined for the third day in a row after a steady rise in the previous ten sessions. Sensex fell 1.6% on the worries that the disagreement in the ruling coalition on the nulcear accord with the U.S. may lead to early elections. The Congree led coalition has been shaky but has managed to push ahead with reforms and economic growth has stayed above 9%. DLF will replace Dr Reddys in the BSE Sensex index. Steel companies led the gainers.
123jump.com Staff
08 Oct, 2007
New York City
In the pre-market trading indexes in New York are pointing lower opening and European markets are trading slightly lower. Asian markets closed higher led by a rise in Shanghai, Philippines, and Thailand. Oil futures are showing a drop at the opening between 1% and 2%. SAP is in a deal to buy Business Objects for 4.8 billion euros or nearly $7 billion. Vodafone is in a deal to acquire Spanish and Italian assets of Tele2 AB. Akzo, the Dutch chemical maker raised its dividend by 45%.
123jump.com Staff
05 Oct, 2007
New York City
U.S. September employment report showed a healthy gains in payroll lifting the market indexes in the U.S. and Europe. Dow Jones reached intra-day high and S&P 500 closed at a record high. U.S. stocks gained for the fourth week in a row. Merrill Lynch will write-down mortgage bonds portfolio by $5.5 billion and report a loss of 50 cents in the third quarter. Washington Mutual said that earnings will be lowered 75% due to $975 million losses in mortgage business. Research in Motion jumped 13%.
123jump.com Staff
05 Oct, 2007
New York City
September employment report from the U.S. Labor Department reported an addition of 110,000 to payroll and revised August estimate from a loss of 4,000 to a gain of 89,000. The strength in the labor market, quickly lifted market mood at the opening and helped indexes in European trading. Retailer, home builders, and consumer cyclicals gained at mid-day trading. Research in Motion jumped 10% after reporting a eanings of 50 cents per share. Merrill Lynch to take $5 billion charge.
123jump.com Staff
05 Oct, 2007
New York City
Tokyo stocks fell 0.2% for the day but added 1.7% for the week. Of the 225 stocks in the Nkkei index 92 advanced and 119 declined. Japan reserve of foreign exchange surged to $932 billion after an increase of $13.4 billion in September. Softbank led the gainers in the index with a rise of 5.3% and Casio led the decliners with a fall of 19%. Casio lowered its earnings estimate for the full year by 39%.
123jump.com Staff
05 Oct, 2007
New York City
Most major European markets posted gains in their mid-day trading session. Leading the movers was the UK FTSE Index up 0.78%, followed by the German DAX gaining 0.61%. Ahead of the release of the U.S. jobs report, the major Asian markets closed mixed, with Japanese, New Zealand, Indian, South Korean and Taiwanese markets posting losses. Japan''''''''''''''''s Cabinet Office reported a steep decline of the leading index for Japan to 30 in August from 72.27 in July.
