123jump.com Staff
19 Sep, 2007
New York City
Sensex in Mumbai, India trading soared 653 points or 4.2% to close at record level of 16,322.45. The interest rate cut in the U.S. rocketed most indexes in India and across Asia. On a sharply high turnover stock rallied in financial, realty, and industrial sectors. of the thirty stocks in te BSE 30 index, every member closed higher. Infosys denied the rumors that it is in talks to acquire UK based Sage Group or France based Cap Gemini.
123jump.com Staff
19 Sep, 2007
New York City
Stocks in Australia got a boost from a rate cut in the U.S. and no change in rate in Japan. ASX 200 Index gained 2.6% to 6,356.10. Australian dollar recovered 2.5% from the recent losses and managed to close at 85.43 cents to one U.S. dollar. The Australian dollar is expected to strengthen as dollar declines for the rest of the year. Yield on 2-year Australian note rose 1 basis point to 6.28%. Gold and metals mining stocks led the rise in index stocks.
123jump.com Staff
19 Sep, 2007
New York City
Stock index futures in New York are indicating higher opening. Oil is trading near record level and gold in international markets traded higher. Asian markets surged across the region on 0.5% rate cut in the U.S. The Bank of Japan left the rate unchaged at 0.5%. Morgan Stanley reported 17% decline in earnings on 13% drop in revenue. India surged 4% leading the Asian region. European markets are up more than 2% across the region at mid-day trading. August CPI dropped 0.1%.
123jump.com Staff
19 Sep, 2007
New York City
Stocks in Tokyo soared on the rate cut in the U.S. and the Bank of Japan leaving the rates unchanged. Nikkei 225 index surged 3.67% and Topix index added 3.8% after the news. Cosmo Oil, refiner, sold 21% stake to a company controlled by UAE government. Financial stocks led the rally. Markets across Asian surged led by a sharp rise in Hong Kong, Australia, and Singapore.
123jump.com Staff
18 Sep, 2007
New York City
Stocks in New York soared after the aggressive rate cut of 50 basis points by the Fed. The preemptive action is expected to prevent economy from sleeping to receission, but may add to long term inflation. After the rate cut stock market jumped more than 2.5% but gold jumped 1.6% to a 27-year high. Oil closed at third record close in a row. Dollar fell 1.6% against euro, record low close. Brazil surged 4.5% and the Bank of England added liquidity to the systems after refusing to do so for weeks.
123jump.com Staff
18 Sep, 2007
New York City
Stocks in London tradig recovered on the back of rising financial stocks. The UK government assured that it will protect all depositors with Northen Rock. The Bank of England, which has been reluctant to add liquidity in the financial system, said that it has provided $8.8 billion in emergency lending at 5.75%. Standard Chartered Bank has agreed to purchase American Express banking division with licenses in India and Taiwan. UK inflation in Augst fell.
123jump.com Staff
18 Sep, 2007
New York City
The Fed lowered its target for fed fund rates by 50 bais points to 5.75%. The Fed, bowing to the pressure from investors and Wall Street, lowered the rate to maintain orderly conduct of the credit markets. The Fed statement cited that the readings on core inflation have improved but it promised to monitor inflation closely. The Fed appears to be concerned tha fallout from the malaise in the financial markets may affect broader economy. Dollar may be take brunt of the Fed action.
123jump.com Staff
18 Sep, 2007
New York City
Australian stocks fell for the second day of this week on global credit worries. Rising oil price falied to lift averages. ASX 200 fell 1.2% reflecting general trend in Asian markets. Australia lowered its estimates of October harvest by 31% lifting wheat prices to record level. Australian dollar dropped nearly 1% against the U.S. dollar. Aussie dollar has been under pressur as carry traders shift their currency mix borrowing. Strength in gold price lifted gold companies stocks.
123jump.com Staff
18 Sep, 2007
New York City
Market averages rose in New York and Europe after Lehman Brothers and Best Buy reported earnings. Lehman earnings in the third quarter fell 3% to $1.54 per share beating the estimate of $1.47. The fall in bond market trading profit was largely offset by higher fees from brokerage and asset management and rising income in investment banking. Best Buy revenue jumped 15% and earnings rose 9%. Stock indexes rose sharply in Europe and New York on the news.
123jump.com Staff
18 Sep, 2007
New York City
Asian markets fell across the region led by 2% loss in Japan. Korea, Taiwan, and Australia fell as well. India bucked th trend and jumped 1% higher. Banks in Japan and China fell sharply on the worries related to the U.S. mortgage market. Property stocks in Hong Kong fell ahead of the rate decision in the U.S. Rising oil price lifted select energy stocks in China and Hong Kong. Australia lowered its wheat harvest estimate by 31%. China Merchants Bank completes its $8 billion IPO.
123jump.com Staff
18 Sep, 2007
New York City
Nikkei 225 in Tokyo fell 2% after global credit market worries resurfaced. The broader index Topix declined 2.2%. Mizuho Financial and Aiful Corp plunged 8% after a local lneder Credia filed for bankruptcy protection. Credia filed for protection after it failed to raise financing for its 54 billion yen debt. Sony lowered size of its IPO of the financial unit. Discount retailer Seiyu Ltd raised its forecast of loss for the year.
123jump.com Staff
17 Sep, 2007
New York City
Stocks around the world fel and awaited the rate decision from the Fed tomorrow afternoon. Averages in the America, Europe and in Asia declined. UK stocks remained volatile as depositors withdrew money from the troubled lender Northern Rock for the second day, despite an assuarance from the UK government that it will protect all deposits. Microsoft was found guilty of abusing its dominating market position and a fine of $690 million. Record oil price and gold traded above $725.
123jump.com Staff
17 Sep, 2007
New York City
Stocks in London trading fell 1.7% or 106.50 to 6,182.80. Financial stocks dragged indexes in London and other European markets. Index in London lost 1.2% in Friday tradig. Economist have lowere economic growth projection for the UK by 1% in 2008 an 2009. Prime Minister Brown will meet U.S. Treasury Secretary Paulson to discuss the current credit market malaise. Of the FTSE 100 stocks, 92 declined and 15 lost more than 5%. Branson sells Virgin Megastore.
123jump.com Staff
17 Sep, 2007
New York City
Stocks in Mumbai, India declined in the afternoon but merger and financing activities continued at brisk pace in one of the fastest growing economies in the world. Rajesh Exports plans to sell 51% stake in the company to De Beers or U.S. based private equity group. Tata Sons to buyback stake in Tata Investments. IFCI receives bids from GE and Wilbur Ross led fund for 26% stake. Ispat Industries and Adani Enterprises each to invest nearly $2.5 billion in their respecitve businesses.
123jump.com Staff
17 Sep, 2007
New York City
Stocks in New York are pointing sharply lower opening ahead of the Fed meeting tomorrow. European stocks declined on widening subprime credit squeeze. Northern Rock, fifth largest mortgage lender, in UK fell 35% after losing 31% on Friday. Other bank and financial stocks are trading lower in Europe. Asian markets closed lower. Japan is closed for a holiday.
