123jump.com Staff
04 Oct, 2007
New York City
In a lackluster trading, markets in the U.S. and Europe searched for a direction. Ahead of the earnings season and employment report, investors were cautious. The European Bank and the Bank of England left interest rates unchaged after the Federal Reserve lowered the rate by 50 basis points three weeks ago. Oil, copper, and gold rebounded after three days of weakness. Hong Kong in Asia fell for the second day in a row after closing at a new high.
123jump.com Staff
04 Oct, 2007
New York City
The European Central Bank and the Bank of England left rates unchaged in what appears to be a coordinated move among central bankers around the world. Earlier Reserve Bank of Australia and Bank of Japan left their rates unchaged after the Fed in the U.S. lowered its rate to 4.75%. After the first thirty minutes of trading stocks in New York are trading sideways. Mariott, Family Dollar, and constellationa Brands reported earnings. Dollar is trading slightly higher.
123jump.com Staff
04 Oct, 2007
New York City
A weakness in retailers, techology, and energy stocks draggged Japan lower after a steady rise in the last three days. Lower than expected earnings from Seven & I retailer hurt the sentiment in the sector. Tech stocks fell as well on the weakness in chipmakers. However, Elpida jumped on the news that it will sell more chips directly to customers at higher prices. Declining oil price hurt energy trading companies. Mitsubishi Corp, Mistui & Company, and Inpex declined.
123jump.com Staff
03 Oct, 2007
New York City
Markets in the U.S. fell after a week of hectic trading. Weekly petroleum report indicated that inventories are healthly but are on the decline. Oil fell. Banks in European trading closed higher after Deutsche Bank reported 2.2 billion in losses in mortgage related activities. French defense contractor EADS is investigated by market regulators for insider trading by executives. Emerging markets in Latin America and Asia fell. India bucked the trend and soared 3% to a record close.
123jump.com Staff
03 Oct, 2007
New York City
European markets closed higher led by advances in banks across the region. Deutsche Bank jumped more than 2% after reporting a loss of 2.2 billion euros but still projected 13% rise in third quarter earnigs from a year ago. Other banks rallied on the news as well. French market regulators are probing executives at EADS and its shareholder Lagrdere for possible violations of insider trading rules. Oil fell, draggin Norway down 1.6%.
123jump.com Staff
03 Oct, 2001
New York City
In the early trading stocks in New York meandered with a decline in service industry index and lower than expected rise in payroll in Septemeber, and weak auto sales in the month. Before the market opening Deutsche Bank reported that its third quarter earnings will be lower on the account of 2.2 billion charge in the fixed income business. Micron swung to a loss of $158 million in the fourth quarter from $64 million profit a year ago. Hong Kong closed 2.6% lower but India closed at a new high.
123jump.com Staff
03 Oct, 2007
New York City
Nikkei 225 index in Tokyo traded higher led by surging brokerage and financial stocks. Citigroup agreed to acquire 32% of the remaining stocks of Nikko Cordial, the third largest brokerage firm in Japan for $4.6 billion or at 1,700 yen per share. On the news Nomura and Daiwa jumped nearly 5%. Stocks in the region traded mixed. Hong Kong fell 2.6% but India soared 3% to a new record.
123jump.com Staff
02 Oct, 2007
New York City
New York markets closed lower after a day of sharp advance. Investors were guaging consumers with purchases of auto and homes. An index of existing home sales fell to a record low and domestic auto sales declined in September. Spain led European markets and banks in Switzerland, Germany and France gained. Mexico jumped 4% in the last two days. In the overnight tradiing, Hong Kong jumped 4% and Japan added 1.2%. Dollar rebounded, gold fell 2%. September U.S. auto sales were weak.
123jump.com Staff
02 Oct, 2007
New York City
In the late afternoon, stocks in New York were tradig lower. An index of existing home sales declined to a seven-year low. Sallie Mae received a revised offer of $50 per share, $10 lower from the previous offer. Oil fell and dollar rebounded. Energy stocks fell on lower oil. Gold dropped 2% as dollar rose against major currencies. Ford and Toyota auto sales in September fell. Honda and General Motors sales increase.
123jump.com Staff
02 Oct, 2007
New York City
Stocks in New York after one hour of trading fell. Asia closed sharply higher and European markets inched higher. Toronto Dominion Bank fell 5% after agreed to purchase Commerce Bancorp for $8.5 billion. The deal priced at 23 times fiscal 2008 earnings is expected to be accretive in 2009 and after. Citigroup agreed to purchase remaining stake in Nikko Cordial in Japan for $4.6 billion. Steel Dynamics agreed to buy OmniSource for more than $1 b. Thor reported better than expected earnings.
123jump.com Staff
02 Oct, 2007
New York City
Markets in Asia closed higher led by a sharp rise in Hong Kong, Indonesia, Singapore, and Philippines, and Taiwan. Hong Kong surged 4% on the gains in banking and real estate companies. China Mobile and Chine Netcom jumped. The expected fund flows from mailnad China helped the index to cross 28,000. Australia closed at a record high on two deals. Westpac took control of the troubled mortgage lender Rams. Private equity group Carlyle and National Hire revised bid for Coates was acccepted.
123jump.com Staff
02 Oct, 2007
New York City
Stocks in Asia closed at record levels led by a sharp rise in indexes in Hong Kong, Australia, Philippines, Taiwan, and Japan. Tokyo closed up 1.2% on reboundig banks and financial stocks. Yen traded at elevated levels as traders returned to carry trade arbitrage. Of the 225 stocks in Nikkei index, 171 closed higher. Sony forms a joint venture for consumer electronics chips with Qimonda. Hong Kong surges to 4% and retail sales in August soar 15%.
123jump.com Staff
01 Oct, 2007
New York City
Stocks in New York trading rallied after Citigroup and UBS reported large losses from credit market turmoil. Banks, home builders, and rating agencies jumped in the hope that now the losses can be estimatd for the industry. Citigroup reported a loss reflecting 2.5% of their subprime portfolio. UBS said that it expects a loss of 4 billion francs. Italy, Germany, and France rallied. Air France and Deutsche Borse jumped. Mining companies closed sharply higher. Brazil and Mexico surged.
123jump.com Staff
01 Oct, 2007
New York City
Stocks in London closed higer reflecting a rally on the first day of trading in Europe. FTSE 100 index added 0.6% to 6,506.20 after UBS and Citigroup reported sharp losses in its subprime related businesses. Index closed higher as investors welcomed more insight in the credit market malaise. Investors had anticipated wider losses. Mining stocks rose led by BHP, Vedanta, Anglo American, and Kazakhmys. Anglo American plans to lower its stake in Anglo Ashanti.
123jump.com Staff
01 Oct, 2007
New York City
European markets closed higher after a bruising third quarter. Indexes in the region were led higher by 1.3% rise in Italy and more than 1% rise in Switzerland and France. The Netherlands, UK, and Germany advanced as well. Nokia agreed to purchase digital mapping company Navteq for $8.1 billion. In London, mining compaies lifted FTSE index. Northern Rock fell 27%. In Germany, Lufthansa, Deutsche Postbank, and Lufthansa led the gainers.
