123jump.com Staff
22 Aug, 2007
New York City
At the opening in New York, after fifteen minutes of trading, three popular averages raced to near 1% rise. The merger news, firm trading in Asia and Europe, and no new surprises in the credit market helped averages. NYMEX said that it is in merger talks with NYSE Euronext. E*Trade and TD Ameritrade are exploring merger possibilities. Toll brothers reported 85% decline in earnings. BHP Billiton profit rose 28%. MGM Mirage sells 9.5% stake in the company to Dubai World.
123jump.com Staff
22 Aug, 2007
New York City
Nikkei 225 index closed nearly unchanged. Nervous investors dumped banks, real estate, and trading companies stocks. A drop in crude oil price helped chemical and airlines stocks. Japan Prime Minister, while visiting India, said in a Parliament address that trade between the two nations will grow three-fold. Trade surplus in July declined 21% to 671.2 billion. Exports rose 11.7% and imports increased 16.9%.
123jump.com Staff
21 Aug, 2007
New York City
Markets around the world remained nervous and looked for direction for the U.S. credit market jitters. The Central banks around the world pumped liquidity to the system. Japan, U.S., Europe, and Australia added liquidty. The worldwide injection has now exceeded $200 billion in the last ten days. The Bank of England lent $620 million to an unnamed bank at penalty rate. Oil fell but copper traded firm. Gasoline in New York trading fell. Gold edged lower.
123jump.com Staff
21 Aug, 2007
New York City
UK market index FTSE 100 traded volatile but managed to close higher. Renewed worries of credit market malaise in the U.s. kept investors nervous. The Bank of England lent emergency funding to an unnamed bank at a rate of 6.75% after denying for weeks that U.K. banks need such funding. Of the 102 stocks in the index, 51 fell and 49 gained. BHP and other mining stocks led the index stocks.
Elena
21 Aug, 2007
New York City
European stock markets finished a volatile Tuesday session slightly higher, as lower oil prices boosted the shares of automakers and chemicals firms helping them to offset losses from retailers, insurers and banks, generated by persisting worries about the strength of the global economy. Across the region, France closed up 0.4%, followed by Germany with 0.2% advance and the U.K., up 0.1%.
Elena
21 Aug, 2007
New York City
U.S. stock averages rebounded in a volatile trading after Senate Banking Committee Chairman Christopher Dodd said Fed Chairman Ben Bernanke is ready to use all tools at his disposal to help relieve the liquidity issues shaking Wall Street. In corporate news, Countrywide Financial jumped 8% on speculations the U.S. biggest mortgage lender could be bought out by Berkshire Hathaway.
123jump.com Staff
21 Aug, 2007
New York City
Asian markets diverged in regional trading as Japan, China, and Hong Kong led the gainers. Thailand and India fell on the potical worries. China, in a pilot program, let local residents to invest in Hong Kong stock market lifting index in the early trading in Hong Kong. Earnings from Chalco, largest Aluminum company jumped 9%. China Southern Airline purchases 55 Boeing planes and reported profit in the first half. Philippines reported largest single day gain since 2001.
Elena
21 Aug, 2007
New York City
Target said its Q2 net income rose 13% to $686 million, or 80 cents a share, up from $609 million, or 70 cents a share a year ago, meeting estimates. Company
Elena
21 Aug, 2007
New York City
Wall Street lacked direction at opening hours, reflecting further credit problems and uncertainty about what the Fed Reserve''s next move might be to steady the markets and the economy. Countrywide Financial rose 2.9% on speculations it might be a takeover target due to losses related to subprime mortgages. Capital One Financial added 1.9% announced a decision to close its wholesale mortgage business and reduce 1,900 jobs.
123jump.com Staff
21 Aug, 2007
New York City
Stock market fell sharply after the ruling coalition disagreement surfaced over nuclear pact with the U.S. Key coalition member, communist party showed its unwillingness to lend its support for the nuclear deal. Investors worried that the disagreement may lead to a call for general election, ahead of schedule. Sensex plunged 3% in Mumbai trading as every member of the index dropped. Banks and real estate companies suffered heavy losses. Blackstone is in a deal to acquire Gokaldas Exports.
Elena
21 Aug, 2007
New York City
U.S. stock futures advanced on Tuesday, boosted by optimism that the Federal Reserve will make further steps by cutting its main base rate in order to relieve continuous global credit worries. Banc of America Securities downgraded a number of home builders, including Toll Brothers, Hovnanian Enterprises and Standard Pacific, saying cancellations jumped as lenders pulled commitments from buyers already in the backlog and new buyers failed to qualify.
123jump.com Staff
20 Aug, 2007
New York City
Averages in New York were volatile with banks and brokerage stocks traded lower. KKR Financial sold a stake in the company to increase liquidity. Countrywide plans to reduce staff in its mortgage unit and Capitol One said that it will close its mortgage division. Oil fell. European stocks closed higher. Asian markets rallied. Lowe''s reported 9% jump in earnings. HSBC is in a deal to buy 51% stake in Korea Exchange Bank. Nasdaq to sell its stake in LSE and plans to revise bid for OMX.
123jump.com Staff
20 Aug, 2007
New York City
FTSE 100 Index in London trading edged up a fraction in volatile trading. persistent worries of unknown subprime lending liabilites in the U.S. kept investors nervous. Mining stocks gained more than 3%. UK recorded current budgt surplus of 8.6 billion pounds compared to 8.1 billion a year ago. Net borrowings for the fiscal year are estimated at 34 billion pounds. British Energy jumped 4% and banks fell. Nasdaq plans to sell its stake in LSE and consider revising its bid for OMX.
Elena
20 Aug, 2007
New York City
European stock markets finished in the positive territory Monday, lifted by retreating concerns about the financial system and global economic growth. Market sentiment was also supported by solid gains in the shares of mining and financial companies. France led regional gainers with an advance of 0.7%, followed by Germany, up 0.4% and the U.K., rising 0.2%.
123jump.com Staff
20 Aug, 2007
New York City
Sensex in India closes higher on rising markets in Asia. Of the 30 stocks in the index, 25 closed higher on lower trading volume. The Sensex jumped 2% or 286 points to close at 14,427.55. ICICIC Bank received government approval to sell a stake in its subsidiary lifting all stocks in the sector. Fertilizer stocks jumped on the news that the government plans to issue 7,500 crore rupees bonds to cover deficit in the fertilizer companies. Reliance Communications is in a deal to buy Aircel.
