123jump.com Staff
06 Jun, 2008
New York City
Yuan rose to a record high against the U.S. dollar. Yuan rose to 6.923 to a dollar. The chinese currency gaied 5.5% so far this year after rising 6.9% in 2007. Rising crude oil price lifted stocks in the energy sector and dragged airlines stocks lower. China''s fiscal revenue rose 29.4% from the year ago and corporate income tax revenue declined 12%.
123jump.com Staff
06 Jun, 2008
New York City
Inflation fears hovered on the trading sentiment as the latest read on the inflation showed a surge to 8.4%. The RBI Governor Reddy hinted that a higher bank reserves may be requied to curb lending. Recent rise in fuel prices are only going to add to the inflation as 14% of the conumer price index consist of fuel. Widespread consumer protests were seen in Kolkatta and Hyderabad. The Sensex index fell 1.3% or 197.54 to 15,572.18 and CNX Nifty dropped 1.1% to 4,627.
123jump.com Staff
06 Jun, 2008
New York City
Japan stock averages rose after a weakening yen spurred exporters and steel makers rose after the U.S. steel maker Nucor said its earnings will be higher than the previous estimate. In Tokyo trading Nikkei 225 rose 1% or 148.32 at 14,489.44, rising 1.1% for the week, and the broader Topix Index increased 0.3% to 1,428.11.
123jump.com Staff
06 Jun, 2008
New York City
The indexes S&P 500, Dow and Nasdaq dropped 3% on unemployment report, record surge in oil and gold prices and worries of economic slow-down. WaMu Inc led the decliners in the S&P 500 index with a loss of 12.5% followed by losses in MGIC Investment Corp of 11.3%, in Ambac Financial of 10.3% and in Pulte Homes of 10%. AIG led the decliners in the Dow Jones Index with a loss of 6.8% followed by losses in American Express of 5.8%. Of the S&P 500 stocks, 286 lost more than 3%.
123jump.com Staff
06 Jun, 2008
New York City
European stocks fell across the region as crude oil jumped 9% in London trading. The sustained imports from Asia and the U.S., falling dollar and the use of oil as a hedge and worries related to supply are contributing to the crude oil rise. Every member of the CAC-40 index in Paris fell and only of DAX 30 index stocks in Germany closed higher. Switzerland, Germany and France dropped more than 2%.
123jump.com Staff
06 Jun, 2008
New York City
UK and European stocks fell after May unemployment rose in the U.S. Crude oil surged 9% in London and New York trading on sustained imports from Asia and the U.S. Crude oil surged to a record high $137 in trading in London and New York. Energy stocks led FTSE 100 index stocks. Lloyds TSB Group said in regulatory filing yesterday that it will make a provision of
123jump.com Staff
06 Jun, 2008
New York City
U.S. stocks fell sharply after the unemployment in May rose to 5.5% from 5% in April and from 4.5% in May of 2007. The monthly payrolls declined for the second month in a row and sparked the fears of economic slow down. Market indexes, Dow, Nasdaq and S&P 500 fell more than 1.7%. National Semiconductor gained after earnings rose 8% and earnings per share increased to 28 cents. Crude oil traded 4% higher on a sustained rise in demand.
123jump.com Staff
06 Jun, 2008
New York City
U.S. stocks traded lower in the morning trading as oil surged more than 4% in London and in New York trading. Chevron oil operations in Nigeria are looking to strike if higher pay demands are not met. Weak dollar also contributed to the rise in oil price. And, a steady rise in demand from the U.S. and accelerating demand from Asia has kept crude oil demand higher in the first five months of the year.
123jump.com Staff
05 Jun, 2008
New York City
U.S. stocks surged after same store sales data showed healthy gains at large retailers. Wal-Mart and Costco reported higher than expected sales gain in May lifting stocks across various industries. A sharp rise in crude oil price of more than $5 per barrel lifted stocks energy complex companies. The ECB and Bank of England left interest rates unchanged and issued tougher outlook on inflation. Brazil, Argentina and India surged more than 2.5%.
123jump.com Staff
05 Jun, 2008
New York City
Stocks in Hong Kong rose as a retreat in oil prices relieved pressures on oil refiners. Recovering telecommunications stocks also positively impacted investor sentiment. However, price controls for coal producers affected mainland stocks. In Hong Kong trading Hang Seng Index rose 0.55% or 132.04 at 24,255.29 and in Shanghai CSI 300 Index fell 0.98% or 34.78 at 3,512.14.
123jump.com Staff
05 Jun, 2008
New York City
Japan stock indexes declined after Lehman Brothers cuts its rating for the financial services sector in the wake of rising credit costs. Falling crude oil and metal prices widened losses. In Tokyo trading Nikkei 225 fell 0.65% or 94.45 to 14,341.12, and the broader Topix Index dropped 0.4% or 6.02 at 1,424.45.
123jump.com Staff
05 Jun, 2008
New York City
Indian shares recovered after losses of three days in a row of selling. The 30-share BSE Sensex gained 1.6% or 254.93 15,769.72. On the National Stocks Exchange, the S&P CNX Nifty surged 2% or 91.35 to 4,676.95. Infosys jumped 5.9% to 1,979.70 rupees on the media reports that the firm is looking for acquisitions in Europe. Reliance Communications rose 1.3% to 547.15 rupees on news reports that the firm and South Africa''s MTN.
123jump.com Staff
05 Jun, 2008
New York City
Jean Trichet said on Thursday the ECB may raise interest rates next month to combat inflation. German manufacturing orders in April declined 1.8% from a month earlier, but orders during the first four months rose 15%. French unemployment rate dropped to its lowest level in a decade, reaching 7.5% in the first quarter. The CAC 40 share index fell 0.1% and the DAX 30-share index declined 0.4%. Credit Agricole prices its stock at a discount. Credit Agricole prices its offering of 6 billion euros.
123jump.com Staff
05 Jun, 2008
New York City
The Bank of England and the European Central Bank left the rates unchanged at 5% and 4% respectively. The rising inflation in the region has left central bankers worried. Unlike the Fed in the U.S., central bankers in Europe are more focused on inflation. Separately, retailer Wm Morrison reported 7% rise in sales in the first quarter but home prices fell in May. Stocks in London trading rose with the FTSE 100 index gaining 0.4%.
123jump.com Staff
05 Jun, 2008
New York City
Verizon Wireless agreed to acquire Alltel Corporation, a rural telecom operator with 13 million customers. Verizon will pay $5.9 billion in cash and $22.2 billion of estimated debt. TPG and Goldman Sachs controlled fund have agreed to sell the company that they purchased for $24.2 billion less than thirteen months ago with only $4 billion in equity.
