123jump.com Staff
13 Sep, 2007
New York City
Sensex in Mumbai, India trading eged higher on steady capital spending and production expansion news from local companies. Suzlon, wind turbine maker, plans to double its production capacity in 3 years. Steel Authority of India is targeting to raise its production to 26 million tons in 2010, twice its current production level. Jindal is in the middle of multi billion dollar investment in iron onre mining and steel project in Bolivia. Reliance and government agree on natural gas price.
Elena
13 Sep, 2007
New York City
Wall Street rallied at opening Thursday, with Dow Jones surging 100 points on lower-than-expected increase in weekly jobless claims and upbeat corporate news from McDonald''s and General Motors. The fast-food retailer rose 4.6% after it lifted its dividend to shareholders by 50%, while the car maker jumped 6% after Citigroup raised its rating on the stock. Reportedly, the UAW may agree to establish a union-controlled trust fund for employee health care costs.
Elena
13 Sep, 2007
New York City
U.S. stock futures were pointing to recovery Thursday on better-than-anticipated jobs data. The Labor Department said that initial jobless claims rose by 4,000 last week to 319,000, less than the 325,000 claims analysts expected. The report also stated low unemployment rate of 4.6%. Among pre-market highlights, McDonald''s rose 2% after it said it would increase its dividend by 50%. Microsoft gained 0.7% after it raised its quarterly dividend by a penny to 11 cents a share.
123jump.com Staff
13 Sep, 2007
New York City
Stocks in Tokyo fell on rising oil and worries that Japanese economy may slowdown. Nikkei 225 index edged up 0.2% but broader index Topix fell 0.4%. Pharmaceuticals jumped after the local newspapers suggested that companies are likely to spend 300 billion yen to buyback stocks. Trading company Mitsui and oil company Inpex jumped more than 3%. Five-year Japanese government note declined on lower demand.
123jump.com Staff
12 Sep, 2007
New York City
Oil traded at record intrady prices and managed to put traders on alert. The record high oil and persistent weakness in dollar dragged stocks lower. The debate on rate cut focused on viability of two successive 50 basis points cuts. Oil complex stocks in the U.S. and Europe jumped. Weekly petroleum inventory report in the U.S. showed 7.1 million barrel fall in inventory. The surprise decline sparked rally in oil. Dollar fell for the sixth day in a row against euro.
Elena
12 Sep, 2007
New York City
European stock markets were volatile during Thursday trading session, but closed higher, led by phone and oil companies. Telecommunications companies, such as Telefonica, gained on positive comments from JP Morgan Chase & Co about the earnings outlook for the industry. Energy stocks posted considerable strength, as oil prices climbed to a record high. Across the region, France advanced 0.5%, followed by the U.K., up 0.4% and Germany, rising 0.2%.
123jump.com Staff
12 Sep, 2007
New York City
UK stocks edged higher by 0.4% extending the gains of 2.4% from the previous session. The Bank of England governon said that lowering rates will only encourage reckless risk taking in the credit markets. He refused to lower rates. The Bank will provide added liquidity as a lender of last resort. Libor rate in pound is now at nine-year high. Overnight rate for interbank lending hovered near 5.9%. In other economic news unemployment declined and average income rose in July.
Elena
12 Sep, 2007
New York City
U.S. market averages recovered from earlier weakness although crude oil inventories dropped more than expected and the U.S. dollar hit a record low against the euro. Stocks were also given a boost by continuous optimism that the Fed will cut interest rates at its next monetary policy meeting on Sept. 18th. The price of oil surged after the petroleum report, reaching a record intraday high of $79.29 a barrel. Airline stocks moved sharply lower, while natural gas stocks posted solid advance.
Elena
12 Sep, 2007
New York City
Wall Street opened in the negative, retreating from notable gains yesterday as investors turned to profit taking. With little news to affect the broad market, the focus remained on what the Federal Reserve
Elena
12 Sep, 2007
New York City
U.S. stock futures indicated a weaker start of Wednesday trading session, reversing from solid gains Tuesday on optimism of interest-rate reduction in the near term, as well as upbeat corporate news from auto maker General Motors and fast-food retailer McDonald''s Corp. Record-low levels of the U.S. dollar exerted further pressure on pre-market sentiment. The greenback traded down 0.4% at 113.85 yen, while the euro traded as high as $1.3880. Texas Instruments also weighed, falling 2.2%.
123jump.com Staff
12 Sep, 2007
New York City
Sensex in India fell at the close after political worries dogged investors. The ruling coaltion appears to be divided on nuclear deal with the U.S. Investors hope that the government refocuses on economic development. Sebi, the regulatory authority of exchanges in India, allowed foreign investors to post AAA rated debt securities as collateral for derivative transactions. The Supreme Court in India permitted Reliance Energy to bid for $650 million Mumbai Sea Link project.
Elena
12 Sep, 2007
New York City
The company said after the closing bell Tuesday that earnings would be in the range of 49 cents to 53 cents per share on revenue between $3.56 billion and $3.72 billion. The upward revision of the forecast included a gain of 2 cents per share from the July sale of a semiconductor product line associated with DSL equipment. The stock fell 0.7% in pre-market trading.
123jump.com Staff
12 Sep, 2007
New York City
Prime Minister Shinzo Abe in Tokyo resigned after a heavy defeat in election six weeks ago. The Liberal Democratic Party general secretary Taro Aso is likely to be elected as the next leader of the party and lead the country as well. Nikkei 225 index in Tokyo fell 0.5% on the surprise resignation. Sharp division in the party and in the Diet on the country''s role in the U.S. led terror campiagn contributed to his downfall.
123jump.com Staff
11 Sep, 2007
New York City
Investors in New York lifted stocks highe in the hope that global economic growth will lift earnings of the U.S. companies. Rapid rise in oil consumption in India and China pushed oil to a record close. Gold and oil jumped 1%. European marekts closed sharply higher on strenght in the U.S. and Asian markets. McDonalds reported same store sales rise of 8.1% in August. Western Digital revised the outlook for the quarter.
123jump.com Staff
11 Sep, 2007
New York City
UK stocks rebounded on rising financial stocks. European markets and Asian markets closed higher as well. July UK trade deficit jumped to 4.4 billion pounds. UK retailers French Connection and Next warned that tougher times may lie ahead as consumer spending may decline in the coming months. Tesco ralliied 4% after a broker upgrade. Rising metal prices lifted mining companies. Rio Tinto and BHP gained 4%. Financial Times Deutschalnd stake held by Pearson may be sold.
