123jump.com Staff
24 Sep, 2007
New York City
Gindalbie and Sundance Resources of Australia have agreed to merger and create A$2.4 billion of iron ore giant with operations in Australia and Africa. The firm iron ore prices and rising demand from China is sparking a consolidation wave. In another deal, Orica of Australia agreed to purchase U.S. based Excel Systems for $670 million and create the largest industrial explosives and mining roof maker. Aussie dollar gained against the U.S. dollar.
123jump.com Staff
21 Sep, 2007
New York City
Stocks in New York rise on 25% increase in earnings from Oracle. Oil and gold traded near their recent peaks but dollar fell against euro to $1.41. Stora Enso of Finland has agreed to sell its eight paper mills in North America to Cerberus for $2.52 billion. Bausch & Lomb shareholders approved $3.7 billion or $65 cash per share bid from Warburg Pincus. Harmon International said that KKR is not likely to complete its buyout of the company, stock lost 22%. Chinese ADRs listed in New York surged.
123jump.com Staff
21 Sep, 2007
New York City
FTSE 100 index in London trading added 0.4%. Of the stocks listed in the index, 67 gained and 33 declined. Vodafone is negotiating over potential $2 billion capital gains tax bill for its acquisition of Indian mobile operator Hutchinson. Gold reached another intra-day high. UK Treasury clarified that it will protect new deposits in the existing accounts of Northern Rock but not new accounts. British Energy jumped 6% after Deutsche Bank raised rating and Kingfisher fell on lowered price targets.
123jump.com Staff
21 Sep, 2007
New York City
Reliance group of companies dominated trading in Mumbai, India today. Several companies in the group logged more than 5% gain at the end of the day. Foreign investments flows in India surged to $11 billion at then end of July surpassing $9 billion for the year 2006. Ambuja Cements added 2% on huge trading volume. Jignesh Shah controlled company, receives approval for the first electric power trading exchange. Indian Rupee trades near peak against dollar.
123jump.com Staff
21 Sep, 2007
New York City
Market indexes at the opening indicate 0.3% increase in Dow, Nasdaq, and S&P 500. Oracle reported revenue increase of 26% and earnings gain of 25%. Revenue in the quarter jumped to $4.5 billion. Nike reported revenue gain of 11% and earnings jumped 51% to $1.12 per share or $569 million. Oil and gold traded at elevated levels. Euro advances against dollar and now trades at $1.41.
123jump.com Staff
21 Sep, 2007
New York City
In Tokyo trading Nikkei 225 index fell 0.6% to close at 16,312.61. For the week, Nikkei gained 1.2% and Topix advanced 0.5%. Sharp is in a deal with Pioneer Corp to buy 14% of the company. Pioneer will acquire 0.5% in Sharp. Misui Fudosan is in advanced stages of discussion with Cerberus Capital to buy its 33% stake in Imperial Hotel. Record oil prices lifter Inpex. Sharp rise in metals prices helped stocks of metals trading and mining companies.
123jump.com Staff
20 Sep, 2007
New York City
Stocks in London closed lower but metals surged in international trading. FTSE 100 index edged 0.5% lower on weakness in financial stocks. Northern Rock fell 28% after the UK governement said that all new depoist account will not be protected by the government. Alliance Leicester fell 8% on the news. Carnival led the gainers in the index with a rise of 7% on earnings. Miners Kazakhmys, Anglo American, and Antofagasta jumped on rising copper and zinc prices.
123jump.com Staff
20 Sep, 2007
New York City
Dollar declined to historic levels against several currencies lifting metals prices and stocks of commodities companies. Dollar fell to a three-decade low against Canadian dollar, fell below $1.40 mark against euro, and reached a nine-year low against Indian rupee. Goldman Sachs earnings jumped 79% and that at Bear Stearns fell 61%. ConAgra reported earnings rise of 10%. Nickel soared 10%, zinc jumped 5% and gold closed 1.4%. Oil closed above $83, record high for the fifth day in a row.
123jump.com Staff
20 Sep, 2007
New York City
Sensex in Mumbai, India trading gained 0.2% to 16,354.06, record close for the second day in a row. Turnover on two exchanges BSE and NSE was at elevated level. Rupee traded higher against dollar for the second day in a row, and reached a nine-year high to 39.76. Real estate stocks soared led by DLF and Unitec. Reliance Energy is planning to raise $12 billion to fund coal mine acquisition in Africa and Indonesia. Sofware exporters Infosys, Wipro, and TCS lost more than 2%
123jump.com Staff
20 Sep, 2007
New York City
Nasdaq Stock Market Inc, Borse Dubai, and OMX of Sweden have entered in a three way deal that can global impact in the world of financial infrastructure. The three way deal sells Nasddaq 28% stake in London Stock Exchange to Borse Dubai. Dubai will acquire OMX and sell its stake to Nasdaq and acquire 19.9% stake in the U.S. based exchange. The complex deal, though agreed, requires approval from the U.S. authority. Qatar, rival bidder for OMX is still considering to offer higher price for OMX.
123jump.com Staff
20 Sep, 2007
New York City
Bear Stearns earnings declined as market had expected. Third quarter earnigs declined to $171 million from $438 million. The revenue fell 37.5% to $1.3 billion from $2.1 billion a year ago. Net revenue in fixed income group fell 88%. Wealth management recorded negative earnings of $38 million compared to $233 million. Global clearing services revenue increased 30%.
123jump.com Staff
20 Sep, 2007
New York City
Goldman Sachs earnings jumped 79% on revenue increae of 63% to $12.4 billion. The strong revenue increases in financial advisory, investment banking, principal trading were reported. Underwriting revenue increased only 8%. Stock jumped $5 in pre-market trading. Separately Bear Stearns earnings fell 61%.
123jump.com Staff
20 Sep, 2007
New York City
Nikkei 225 index edged up a fraction as weakness in consumer lenders and tech stocks closed lower. Land prices in Japan rose 1%, a first rise in sixteen years, and decline in residential prices slowed to 0.7% from 2.3%. The manufacturing survey indeicated that manufacturing companies plan to increase capital investment by 6.3%. Rising metal prices lifted stocks of metal trading companies. Japan steel production gained 3.7%.
123jump.com Staff
19 Sep, 2007
New York City
Stocks in New York rallied for the second day in a row after aggressive rate cut by the Fed. European markets closed sharply higher and in the onvernight trading Asian markets surged. U.S. permitted Fannie Mae and Freddie Mac to increase loan portfolio by 2%. Oil closed at record level for the fourth day in a row. Higher price of copper and other metals lifted resource stocks.
123jump.com Staff
19 Sep, 2007
New York City
Stocks in London rallied, reflecting global rise in markets. The surprise rate reduction, of 0.5% in the U.S.,lifted European and Asian markets. FTSE 100 index jumped 2.8% to 6,460 at close. Troubled lender Northern Rock fell 16% after speculations that the bank is likely to be acquired at a price lower than its book value. Oil traded higher in London. The Bank of England reversed its earlier stance and said that it is prepared to add 10 billion pounds in liquidity.
