123jump.com Staff
14 Sep, 2007
New York City
Stocks in New York trading edged sideways ahead of busy week. The Fed action on Tuesday, and earnings from brokers in the week, and options tradig at the end of the week is likely to dominate trading. Fifth rate hike in China for the year may not cool economy. Industrial activities in India lifted stocks. UK dragged the European indexes lower afte the BoE bailed out the third largest home lender, Northern Rock. Economy in the second quarter in Argentina grew at 8.7% on food exports.
123jump.com Staff
14 Sep, 2007
New York City
Stocks in London declined on the worries of economic slowdown, bailout of Northern Rock, and persistent concerns of the U.S. subprime credit squeeze. FTSE 100 index fell 1.2% with 94 stocks in the index trading lower. UK also lowered its economic growth forecast by 1% to 2%. The Bank of England provided emergency lending to home lender Northern Rock to keep the lender operating. The stock fell 31%. For the week the index gained 1.6%. Ireland index fell 3.5% today.
Elena
14 Sep, 2007
New York City
European stock market finished steeply lower Friday amid renewed concerns of a global credit crunch, sparked by Northern Rock. The UK mortgage lender dropped 31% after the Bank of England agreed to provide emergency funds to help it avoid liquidity trouble. Stocks were additionally pressured by China
123jump.com Staff
14 Sep, 2007
New York City
Australian stocks gained on the rising metals, oil, and local dollar. Macquarie, largest financial services company, said that the first profit is likely to jump 40% on strong investment banking and management fees. For the week Australian dollar jumped 1.9% against the U.S. dollar and nearly 4% against the yen. Australian dollar fell in the morning trading after the Bank of England lent emergency funding to house lender Northern Rock. Food and groercy prices are expected to rise in Australia.
Elena
14 Sep, 2007
New York City
U.S. stock averages traded lower amid renewed fears of a global credit crunch. Financial stocks suffered weakness after UK mortgage lender Northern Rock turned to the Bank of England for an emergency loan to avoid liquidity trouble. The company also issued a profit warning. Merrill Lynch shares fell 1.6%, while Lehman Brothers slipped 2%. However, the market erased some of the earlier losses, benefiting from a stronger-than-expected consumer confidence reading.
Elena
14 Sep, 2007
New York City
U.S. stocks traded lower, with the Dow pressured by downgrades on Intel and American Express. Merrill Lynch cut its rating on Intel sending its stock down 1.6%. American Express was driven lower 2.6% by the same broker comments, citing worries about weak U.S. employment.
123jump.com Staff
14 Sep, 2007
New York City
Sensex in Mumbai edged higher on sharply higher trading volume. The total turnover on two exchanges reached $4.5 billion or 18,000 crore rupees. The elevated level of trading reflected strong demand for stocks both from domestic and international investors. Record number of construction contracts industrial expansion kept stocks rising. Ess Dee Aluminium entered the race to acquire packaging business of Alcan. Larsen & Toubro was selected for Steel Authority of India sinter plant expansion.
Elena
14 Sep, 2007
New York City
Wall Street showed considerable weakness at opening Friday, reflecting weaker-than-forecast August retail sales, as well as economic and financial concerns, sparked by U.K. lender Northern Rock which approached the Bank of England for emergency funding. The Commerce Department said that retail sales rose 0.3%, but all the gains were for cars and trucks. Dow member Intel pressured the blue-chip average and tech sector after Merrill Lynch downgraded the chipmaker, sending its stock down 1.6%.
Elena
14 Sep, 2007
New York City
U.S. stock futures reversed from gains, pointing to a weaker opening Friday, dragged down by renewed concerns about the U.S. financial markets amid news of a foreign lender''s difficulties. Retail sales figures and a broker downgrade of Intel exerted additional pressure. The Commerce Department said that August retail sales rose 0.3%, but all the gains were for cars and trucks. Excluding motor vehicles, sales fell 0.4%, which was lower than expected.
123jump.com Staff
14 Sep, 2007
New York City
Stocks in Tokyo surged 1.9% on Friday and for the week were nearly unchaged. Broader index Topix declined 0.8% for the week and gained 1.4% in trading today. Banks, energy tradig companies, and real estate stocks led the advance. Toyota is planning to build its first domestic factory in Japan in 17 years with an investment of 100 billion yen. Sumitomo Metals Mining surged 7% after lifting its second half earnings by 46%.
123jump.com Staff
13 Sep, 2007
New York City
Nervous market managed to close sharply higher led by stocks in energy, brokerage, and financial sectors. Countrywide Financial reported $12 billion of financing and the latest Fed data suggested that commercial paper market may be stabilizing after seven weeks of turmoil. Oil closed above $80 a barrel. European stocks closed higher. Brazil led markets in South America. In Asian trading Australia closed higher on higher oil and natural gas price. Hong Kong and Shanghai closed sharply higher.
123jump.com Staff
13 Sep, 2007
New York City
Stocks in London closed higher onrecord oil price and firm metals prices in international markets. FTSE 100 index added 0.9% to close at 6,363.90 lifted by mining and energy stocks. Of the index stocks, 69 closed higher and 39 dropped. The Bank of England lent 4.4 billion pounds to banks to stem the liquidity crunch in the credit market. UK housing market survey reported first decline in home prices since 2005. The prices are likely to drop further.
Elena
13 Sep, 2007
New York City
European stock markets finished in the positive Thursday for a third consecutive session, boosted by upbeat U.S. jobs data, as well as strength among automotive, mining and telecoms shares. Alcatel-Lucent limited the upward move after the mobile phone maker lowered its full-year revenue outlook. Among regional markets, France led advancers with a gain of 1.1%, followed by the U.K., up 0.9% and Germany, rising 0.8%.
123jump.com Staff
13 Sep, 2007
New York City
Record crude oil price in international trading lifted Australian stocks. ASX 200 closed 0.2% higher to close at 6,230.60. Woodside Petroleum jumped 1.7% and led the rise in energy stocks. Building products maker CSR fell 7% after it sold A$150 million of stocks to fund its acquisition of Don Mathieson for A$175 million. New Zealand Central Bank kept interest rate at 8.25% and warned that lowering rates may fuel inflation.
Elena
13 Sep, 2007
New York City
U.S. market averages rallied, with the Dow Industrial posting triple-digit gains. The blue chips were led higher by more than 6% increase in the shares of both General Motors and McDonald''s. The car maker advanced on a broker upgrade and progress in talks between automakers and workers over health care costs. Macdonald''s shares rose after the fast-food retailer lifted its dividend by 50%.
