123jump.com Staff
08 Jul, 2008
New York City
Stocks in India declined tracking losses in Asia and other global markets. Communist and other regional parties withdrew their support to the ruling coalition led by Congress Party. The Congress Party has sought and secured support from a regional party and is likely to complete its full term. Tata Motors dropped 4% and has falled nearly 60% from its peak seven months ago. Reliance Industries fell below 2,000 rupees.
123jump.com Staff
08 Jul, 2008
New York City
U.S. stocks struggle as investors face higher write-offs from banks and financial brokerages. Fannie Mae and Freddie Mac were the focus of investors for the second day, after the top regulator said that it will not seek the two lenders to seek additional capital on accounting change. Office Depot plunged 32% after same store sales fell 10% in the second quarter. VMWare dropped 26% after it lowered its sales outlook and replaced its chief executive. Goodrich Petroleum commenced offering.
123jump.com Staff
07 Jul, 2008
New York City
German healthcare concern Fresenius agreed to pay $23 a share for the US injectable drug maker APP Pharmaceuticals. Fresenius will assume APP
123jump.com Staff
08 Jul, 2008
New York City
tU.S. stocks edge higher in the trading afer wholesale sales rise in May. Commodities prices fell for the second day with a sharp decline in crude oil, natural gas and base metal prices. The Federal Reserve chief Bernanke proposes to widen the Fed role and increase lending to financial brokerage firms. Fannie Mae and Freddie Mac may not have to seek additional capital according to the regulator that regulates two mortgage lenders. Asian markets fell sharply in the overnight trading.
123jump.com Staff
07 Jul, 2008
New York City
Financial stocks fell sharply after the talks of another capital needs at two mortgage agencies Fannie Mae and Freddie Mac. The new accounting rule may require more debt to be consodilated on the balance sheet and force two largest mortgage agencies to raise as much as $75 billion in new capital according to Lehman analyst. Banks and financial brokerage stocks dropped. Euorpean stocks closed higher but Asian stocks continue to struggle in the early morning trading in the region.
123jump.com Staff
07 Jul, 2008
New York City
U.S. stocks trade higher after crude oil prices slide lower, renewed interest from Microsoft to negotiate with Yahoo and talks of asset sale at General Motors. Three widely followed indexes rise between 0.7% and 1.2%. European markets at mid-day trade up 2%. Stocks in emerging markets rebound around the world, after two weeks of selling, led by a 2% rise in Brazil and Hong Kong. The generic drug maker, APP Pharmaceuticals soared 30% after it agreed to purshase from Fresenius SE of Europe.
123jump.com Staff
04 Jul, 2008
New York City
European stocks closed lower after crude oil traded at another record high and prospect more capital raising from European banks. Benchmark indexes in UK, France, Germany and Switzerland fell. Swedbank dropped 6% and Banco Santander lost 4%. Banks may need as much as $90 billion to meet their required capital reserves. UK stocks fell after a private equity fund decided not to proceed with investment in home builder Bradfod & Bingley.
123jump.com Staff
04 Jul, 2008
New York City
Stocks in Tokyo trading fell for the 12th day in a row. Persistent worries related to exports to the U.S., rising inflation and weak consumer sentiment drag market averages lower for the longest streak in five decades. For the week Nikkei 225 index dropped 2.3% and in the last twelve days the index declined 8.4%. Real estate stocks led the decliners. Tokai Carbon soared 12% and GS Yuasa rose 4.9%, led the gainers in the Nikkei 225 index.
123jump.com Staff
04 Jul, 2008
New York City
Stocks in Mumbai rebounded on the hopes that political settlement between and Congress and a regional party may avert government collapse. Controversial nuclear agreement between the US and India has caused a rift between the Congress and communist parties and added volatility to stock market. Sensex, today rebounded 2.8% or 360 to 13,454 at close despite a rise in the latest read on inflation.
123jump.com Staff
03 Jul, 2008
New York City
Hong Kong market averages declined for the fourth day in a row led by weak financial stocks on fears of widening credit market losses. Hang Seng reached its peak in November of 31,638.22 and since then has steadily declined in the last seven months of trading but the index is still trading above August low of 20,387.13.
123jump.com Staff
03 Jul, 2008
New York City
Stocks in Japan continue to slide for the eleventh session in a row. Rising crude oil prices, persistent worries related to credit markets and weakening consumption is keeping investors on the sidelines. Steelmakers fell after weak global auto demand for Japanese makers dragged stocks lower. Nikkei 225 index, as tracked by Nikkei News report the longest losing streak in the last five decades.
123jump.com Staff
03 Jul, 2008
New York City
Rupee hovered near fifteen months low as rising crude oil price take a bite out of stocks in India. As India pass on rising international prices of oil to consumers, inflation is expected to reach further in record zone hurting corporate profits and economic growth prospects. Stocks in Mumbai trading fell as investors feared slow down in consumer spending. Automakers, banks and real estate stocks fell sharply. Rupee edged lower and is likely to drop below 43.50.
123jump.com Staff
03 Jul, 2008
New York City
U.S. stocks edged higher but tech stocks remain weak as they have been in the past one month of trading. Crude oil traded at record level as specluators, weak dollar and steady demand drive oil prices. Tech stocks fell, led by weak semiconductor stocks after Nvidia cut its revenue and gross margin guidance. ECB in Europe, raised its key rate by 0.25% to 4.25%. Vodafone agreed to acquire 70% stake in Ghana Telecom to tap into one of the fastest growing wireless markets.
123jump.com Staff
03 Jul, 2008
New York City
Tech stocks fell for the second day on the weak chip makers and tech services companies. Nvidia plunged 30% after it issued lower revenue and gross margin guidance. The chipmaker will also take a charge of $150 millino in the second quarter. Citigroup, Cowen and Goldman Sachs lowered pricce traget and investment rating on the stock. European markets closed higher on the hopes that latest interest rate increase may not be followed by another rate hike in the near future.
123jump.com Staff
03 Jul, 2008
New York City
U.S. payrolls declined in June 62,000 totaling to job losses of 438,000 for te first six months of the year. Economy has been losing jobs as construction, banking and retail industries have been laying off people. Separately the European Central Bank raised its key rate by 25 basis points to 4.25%.
