123jump.com Staff
29 May, 2008
New York City
European markets edged lower as home prices in the UK fell, record inflation in Spain and German unemployment edged higher. Annualized inflation in Spain in May rose to 4.7% in May from 4.2% in April. The sharp rise in inflation is fueled by rising energy and food prices. UK home prices fell for the seventh month in a row as more buyers face tighter mortgage lending.
123jump.com Staff
29 May, 2008
New York City
The U.S. economic growth in the first quarter was revised upwards to 0.9% from 0.6% on shrinking trade deficit. The upward revision follows the 0.6% rise in economic growth of 0.6% in the fourth quarter. In addition, the weekly unemployment claims rose at the end of the last week. Costco reported better than expected earnings and Sears swung to a quarterly loss. MasterCard surged after lifting its revenue and earnings guidance.
123jump.com Staff
28 May, 2008
New York City
Mumbai stocks rose after declining for the four sessions in a row. A drop in oil helped market sentiment. Finance Minister Chidambaram refuted that the government is likely to increase income taxe or add a charge to software exports to cover a rising import bill of oil. A sharp rise in international price of crude oil has put government in a tight corner to balance the inflation and keep trade deficit in check. Tata Motors and Mahindra & Mahindra fell after earnings declined.
123jump.com Staff
28 May, 2008
New York City
U.S. stocks edged higher at close after trading volatile in the morning session. Crude oil rebouded after Morgan Stanley followed several brokers in raising its price estimates. Polo Ralph Lauren led the gainers in S&P 500 index with a surge of 12% after it reported better than expected earnings. Durable goods orders in April fell from a year ago but rose when transportation orders were excluded. Brazil led the world market indexes with a rise of 3% on the hopes of higher earnings at banks.
123jump.com Staff
28 May, 2008
New York City
European stocks closed higher despite weak consumer sentiment in France and a rise in inflation in Germany. Consumer sentiment in France was recorded at a two-decade low as rising fuel prices eat in the disposable income. Rising fuel prices is expected to lift inflation in May in Germany. SAP led the gainers in the DAX 30 stocks and Deutsche Post led the decliners in the index. In Cac-40 index CAP Gemini led the gainers and BNP Paribas led the decliners in the index.
123jump.com Staff
28 May, 2008
New York City
In Shanghai trading CSI 300 Index rose 2.80% or 100.03 at 3, 676.23. Daily turnover on main-board was HK$60.21 billion compared with HK$54.49 billion yesterday. Wing Lung Bank lost 3.5% to HK$144.40, the most in two months. The former vice chairman of the Standing Committee of the National Peoples Congress Cheng Siwei said at a three-day forum on economic globalization in Shanghai today that China economy can maintain a steady growth above 8% for a relatively long period.
123jump.com Staff
28 May, 2008
New York City
U.S. stocks struggled in the first hour of trading. Crude oil, natural gas and precious metals fell. Crude oil dipped below $128 a barrel and natural gas declined to $11.75 a thermal unit. Gold traded lower, near $902 an ounce. Transportation stocks rallied as oil continued to slide. Durable goods orders declined from March and from a year ago but rose excluding transportation orders.
123jump.com Staff
28 May, 2008
New York City
The Nikkei 225 Stock Average lost 1.3% to close at 13,709.44 in Tokyo. The broader Topix index declined 1.4% to 1,348.69. Trading companies accounted for large decline in Topix index. The Topix Mining Index saw the steepest decline among industry groups on the index. Aeon Mall Co. climbed 6.2% to 3,450 yen. NEC Electronics added 3% to 2,370 yen, after announcing plans to spend 10 billion yen to double its production capacity for 300-millimeter wafers.
123jump.com Staff
27 May, 2008
New York City
The Nasdaq gained, bolstered by stronger tech stocks such as Google and Apple. U.S. light crude oil for July delivery declined to $129 a barrel. GM lost ground and slashed its 12-month price target due to the weaker sales and higher commodity prices. Ford Motor also had its earnings expectations cut. April new home sales rose 3.3% from a revised reading a month ago. The home price index plunged a record 14.1% in the first quarter. Consumer confidence fell to a 16-year low.
123jump.com Staff
27 May, 2008
New York City
U.K. loans for house purchase fell 39.4% in April. Stocks on England fell on fears of a tightening market as U.K. loans for house purchases tumbled by 39.4% in April. However, news that InBev NV is mulling a merger with SABMiller helped par losses. In London trading FTSE 100 fell 0.47% or 28.8 to 6,058.50.
123jump.com Staff
27 May, 2008
New York City
Vodafone, reported annual profit that topped analysts'' expectations and added that European Union plans to slash call charges will negatively impact the group
123jump.com Staff
27 May, 2008
New York City
On Wednesday morning petroleum Minister Murli Deora will meet Finance Minister Chidambaram to seek duty cut to bail out state-run oil firms that are reeling under a financial burden in the wake of surging global crude. The IMF said India''s weekly inflation might be running at annualised rate of 3.4%, within the central bank''s comfort zone and below the official year-on-year rate near 8%. At close of Tuesday''s trade, the 30-share BSE Sensex fell 0.5% or 72.91 at 16,275.59.
123jump.com Staff
27 May, 2008
New York City
According to the S&P''s/Case Shiller index Prices of US single-family homes plunged 14.1% in the first quarter, accelerating five times from the last housing recession. Bank of America sees a second-quarter loss for Lehman Brothers and slashed its earnings forecast for Morgan Stanley and Goldman Sachs. Vodafone posted a profit of 6.76 billion pounds as revenue jumped 14% to 35.48 billion pounds. Vodafone
123jump.com Staff
27 May, 2008
New York City
In Hong Kong trading the Hang Seng index rose 0.64% or 154.73 at 24,282.04, and the China Enterprises Index of Hong Kong-listed mainland companies, or H shares, increased 0.82% or 108.80 to 13,330.08. In Shanghai trading CSI 300 Index rose 0.48% or 16.98 at 3,576.20. Daily turnover on main-board was HK$54.49 billion compared with HK$76.7 billion yesterday.
123jump.com Staff
27 May, 2008
New York City
In Tokyo trading Nikkei 225 rose 1.48% or 203.12 to 13,893.31, and the broader Topix Index gained 1.8% or 24.07 to 1,368.25. Of the Nikkei 225 stocks 181 gained, 37 declined, and 7 were unchanged. Mitsubishi Paper Co. led advancers in the index shares with a rise of 9.05% on news strong demand for paper products is prompting major Japanese papermakers to bolster their wood chip procurement capabilities.
