Darlington Musarurwa
21 Dec, 2009
New York City
Stocks in Tokyo traded higher on the rebound in commodities prices. November exports declined 6.2% from a year ago month but edged 4.9% higher from October. Previously owned condo prices in Tokyo declined 2.4% in the month. Honda plans to add vehicle manufacturing capacity in China.
123jump.com Staff
20 Feb, 2008
New York City
IG Metall, largest labor union in Germany secured 5.2% pay rise for its nearly 85,000 members from March of 2008 for the next 13 months. Separately, producer price index in Germany increased 3.3% from a year ago in January. RWE AG, second largest electric utility plans to buyback stocks worth 2.5 billion euros and EDF in France fell after it reported that annual profit may be flat on rising costs. BNP Paribas reported 42% decline in fourth quarter but for the year profit rose 7%.
123jump.com Staff
20 Feb, 2008
New York City
January CPI index rose at 0.4% from December or at 4.3% from a year ago sparking fears of inflation. In the afternoon the Fed statement reiterated that downside risk to the economy remains high but the higher than normal level of inflation may cause a policy reversal. The Fed lowered its outlook for economic growth between 1.2% to 2.0% from its October outlook between 1.8% to 2.5%. Expectations of inflation were revised upwards between 2.1% to 2.4%.
123jump.com Staff
20 Feb, 2008
New York City
In Australia ASX 200 index fell 2.1% to 5,496.50 as reported earnings declined on rising dollar and operating costs. Woodside Petroleum rose 4.6% on the expectations that the company will successfully raise $12 billion to complete its LNG plan this year. However, net profit after tax in 2007 fell 15% excluding one time charges. Macquarie Office Trust increased its distributable earings by 25% to 7.94 cents per unit. Oxiana net profit in 2007 declined to $318 million from $553 million in 2006.
123jump.com Staff
20 Feb, 2008
New York City
A steep rise in oil above $100 a barrel sparked fears of rising inflation dragging stocks lower. Sensex fell 2.5% and Nifty declined 2.4%. Gold rose to a record high on the back of oil price increase. Tata Consultancy signed a multi-year multi-million dollar contract with Chrysler. Infosy and TCS advanced on the news. Shriram EPC and Bang Overseas IPO closed below their offer prices in volatile trading.
123jump.com Staff
20 Feb, 2008
New York City
Stocks in Hong Kong declined after a steep rise in oil stoked fears of inflation in the region. A surprise loss of nearly $3 billion also added uncertainty to the market. In Hong Kong trading the Hang Seng Index dropped 2.2% or 532.59 at 23,590.58, and the China Enterprises index of H-shares, or Hong Kong listed shares in mainland companies, declined 3% or 420.12 to 13,552.82. CNOOC gained 0.8% but PetroChina fell 2%.
123jump.com Staff
20 Feb, 2008
New York City
Stocks in Japan fell after a surprise write-down from Credit Suisse of $2.85 billion and debt reshceduling from KKR Financial in the U.S. In Tokyo trading Nikkei 225 slipped 3.25% to 13,310.37, and the broader Topix Index fell 3.2% to 1,302.72. A sharp rise in crude oil by 4.7% lifted stocks of trading companies but auto makers and others declined.
123jump.com Staff
20 Feb, 2008
New York City
U.S. stocks declined as inflation rose in January. CPI in January increased at 0.4% and core rate of inflation increased at 0.3%. January inflation rose at 4.3% from a year ago on a rise medical and travel services and rising food and energy prices. Housing start increased at 0.8% in January after revised decline of 14.8% in December. Hewlett Packard increased after reporting a better than expected earnings and lifting the outlook for the next quarter.
123jump.com Staff
19 Feb, 2008
New York City
Second largest German state controlled bank reported a sub-prime realted write-down of 1.9 billion euros from its portfolio of 4 billion euros of these loans, forcing its chief executive to resign at the end of this month. Staples Inc offered to purchase Corporate Express of the Netherlands for 1.3 billion euros. CNP Assuarances SA, largest life insurance companies in France surged 6% after local newspaper said that certain stockholders may sell their stake in the company.
123jump.com Staff
19 Feb, 2008
New York City
U.S. stocks lost their early gains in the afternoon trading and closed lower. Cure oil price traded above $100 after Iran hinted that it will push for lower production targets in the next OPEC meeting. Verizon, T Mobile, and AT&T have entered in a price war to offer flat rate monthly service. Credit Suisse reported a surprise asset write-down of $2.85 billion in structured investment vehicles portfolio, only less than a week after reporting $12 billion related to a loss in sub-prime loan.
123jump.com Staff
19 Feb, 2008
New York City
UK stocks edged higher after Barclays reported profit in-line with analysts expectations and commodities prices edged higher. Crude oil edged above $98 in London and above $100 in New York trading and copper rose 3% in London. Barclays reported a net earnings edged higher despite turbulent credit markets but Cadbury Schweppes fell after earnings news.
123jump.com Staff
19 Feb, 2008
New York City
Resource Pacific accepted Xstrata offer of $3.20 per share or $1.08 billion after 50% of shareholders accepted the offer. The four month long battle for a coal miner comes on the back of rising prices of metals, energy, and minerals. OneSteel, second largest alloy producer reported first half profit for the period ending in December 2007 of $104.4 million, an increase of 6.3%. Seperately Newcrest Mining reported a loss of $8.1 million.
123jump.com Staff
19 Feb, 2008
New York City
Credit Suisse plunged 10% after it reported an error of $2.85 billion in valuing securities in structured investment vehicles. The surprise write-down hurt the stock and shocked investors. Credit Suisse, only a week ago, reported an asset write-down of Sfr12.5 billion and left impression in call with investors that the company has a handle on the risky loan portfolio.
123jump.com Staff
19 Feb, 2008
New York City
Rural Electrification IPO received 2.3 times the number of stocks it plans to offer between 90 rupees and 105 rupees. Sensex edged fractionally higher by 27 to 18,075.66. Total turnover on two exchages was recorded at 17,800 crore rupees or $4.2 billion. Bajaj Auto led the gainers in the Sensex stocks with a rise of 6% after Bombay High Court approved the proposed capital allotment between Bajaj Holding and Finserv companies controlled by Bajaj group.
123jump.com Staff
19 Feb, 2008
New York City
Financial and metal stocks rally lifted stocks in Hong Kong. Hang Seng index closed up 364 to 24,123. Copper, zinc, and aluminum increased more than 2%. Qatar sovereign fund decision to invest in Credit Suisse lifted financial stocks. Bank of East Asia gained after a report that it may report stronger than expected earnings. ICBC and Bank of Communication gained.
