123jump.com Staff
07 Feb, 2008
New York City
U.S. stocks fell in the morning after weak January retail sales, rising unemployment claims at the end of last week, and rate decisions in Europe. Retail sales in January showed grwoing economic anxities faced by consumers. Widespread discounts failed to attract consumers to retailers. Unemployment claims rose at the end of last week as construction and financial industries reduce staff. Oil dropped.
123jump.com Staff
07 Feb, 2008
New York City
Retailers reported weaker than anticipated same store sales rise in January. Discounts at several department stores failed to attract customers to stores as they grapple with economic anxities. Falling home values, tight credit conditions, and rising energy and gasoline prices have sapped consumers appetite for retail goods. Wal-Mart reported lowest same store sales rise in thirty years and most apparel retailers sales in January declined. Costco reported 3% rise at domestic locations.
123jump.com Staff
07 Feb, 2008
New York City
Rio Tinto boards in the UK an Australia rejected the revised offer from BHP Billiton. The revised offer valued the comany at 3.4 shares to one share of Rio Tinto fell short of Rio Tinto expectations. Commonwealth Bank increased interest rates by 0.3% and Westpac and St George hiked rtes by 0.25% following a recent rate hike from the RBA. Agro-business company Futuris fell 6.5% after earnings fell 17% in the first half. IOOF stock plunged 10% after its lowered earnings outlook.
123jump.com Staff
07 Feb, 2008
New York City
Foreign exchange reserves of Japan reached to a new high after adding $22.7 billion in January to $996.04 billion. The Bank of Japan holds several currencies in the reserves but its exact breakdown is not known. The BoJ holds less the 3% of its reserve in gold. As the pressure on dollar mounts the BoJ and other central banks may lower its exposure to dollar and increase its euro and other currencies holdings.
123jump.com Staff
06 Feb, 2008
New York City
LVMH Moet Hennessy gained 1% after it reported second half sales rise of 9.3% and earnngs gain of neearly 10% and said that the economic outlook for the current year is worrisome. France Telecom second half sales increased 2% and earnings increased 67% but for the year revenue increased 2.4% and earnings gained 52%. Solar energy comapny Conergy in Germany fell 24% after it reported a loss of 194 million loss in 2007. EDF and Iberdrola talks of merger lifted stocks in two markets.
123jump.com Staff
06 Feb, 2008
New York City
Nationwide Building Society''s index of consumer confidence in January fell indicating rising anxities among consumers. In London trading FTSE 100 rose 0.13% or 7.4 to 5, 875.40. Of the FTSE 100 stocks traded, 66 gained, 34 declined, and 2 were unchanged. British Sky Broadcasting led advancers with a rise of 7% after the company reported full-year profit will be at
123jump.com Staff
06 Feb, 2008
New York City
Rio Tinto rejected the revised offer from BHP which valued the company at $147 billion from earlier offer of $127 billion. BHP raised its ofer to 3.4 BHP stock for one stock of Rio Tinto on the last day to meet the UK regulatory requirements for takeover. Rio cited in the statement that the ofer fails to value its underlying assets adequately. BHP may revise the offer again. Separately BHP reported declining earnings on rising operating costs.
123jump.com Staff
06 Feb, 2008
New York City
U.S. stocks rebounded from the losses at the open after a revised bid of $147 billion from BHP, better than expected earnings frm Disney, JDS Uniphase, and Time Warner. Asian markets fell sharply tracking the losses in Europe and the U.S. in Tuesday trading. In Europe, Spain and Germany are leadig the gainers in the region. Mining and metals stocks rallied after BHP revised its offer for Rio Tinto. JDS Uniphase soared 30% after reporting 22 cents per share income.
123jump.com Staff
06 Feb, 2008
New York City
Mumbai stocks are caught in a volatile and choppy trading for the last three months, and trading today was no different. Sensex index fell 2.8% or 523 to 18,139.49 in line with global market sell-off. U.S. market averages fell between 2.5% and 3% and markets in Europe decline more than 2%. European markets todaly eked out minor gains after a mild rebound in the U.S. Maruti Suzuki, Tata Motors, and Bajaj Auto fell.
123jump.com Staff
06 Feb, 2008
New York City
BHP billiton revised its offer for Rio Tinto to $147 billion from $127 billion. The revised offer now values the company at 3.4 BHP stock to 1 stock of Rio. Chinalco and Alcoa may make a offer for Rio after purchasing 9% stake in Rio. Seprately, BHP reported lower earnings on higher operating costs. Stocks in Australia fell 3.2% on the sharp decline in global markets prompted by a weak read on the U.S. service sector in January. Markets in Asia, Europe, and Australia fell sharply.
123jump.com Staff
06 Feb, 2008
New York City
Financial markets in Asia fell shaprly after service sector index showed a decline in activities in January. In Hong Kong trading Hang Seng Index fell 5.4% or 1,339.24 at 23,469.46, down 0.8% for the week, and the Hang Seng China Enterprises Index, Which tracks H share of mainland companies, slid 6.9 % to 13,067.11.
123jump.com Staff
06 Feb, 2008
New York City
Stocks in Japan and Asia fell across the region, sharply. The rising fears of U.S. recession hobbled investors in the region. Investors in Tokyo, Shanghai, Hong Kong, and Mumbai sold stocks. In Tokyo trading Nikkei 225 fell 4.7% or 646.26 to 13,099.24, and the broader Topix Index slipped 4.2% or 57.07 to 1,298.41. Japan Tobacco and Nissin Food deal to sell frozen food unit has collapsed. Mitsubishi Heavy and Nikon rose on earnings.
123jump.com Staff
06 Feb, 2008
New York City
U.S. stocks edged lower after trading down, up, and dow at close. The talks of inflation fighting from the Philadelphia Fed President weighed on the market. Earlier, in the mornig, market digested a drop in oil price on the weekly crude oil inventory report and a rise in productivity in the last quarter and in 2007. Earnings from Disney and Time Warner lifted the sentiment. Toll Brothers reported senventh quarter of declining earnings.
123jump.com Staff
05 Feb, 2008
New York City
Retail sales index in euro area in December fell 2.0% from a year ago but rose 0.7% for 2007 from a year ago. Only yesterday, Eurostat reported industrial producer price index rose 4.3% in December from a year ago and added 2.8% in 2007. Third largest truck maker in Europe, MAN AG reported third quarter earnings rise of 33% on revenue gain of 38%. Veolia profit rose 18% on 14% rise in sales in the fourth quarter.
123jump.com Staff
05 Feb, 2008
New York City
U.S. stocks fell in the morning after the release of survey on the service sector. The indexes traded lower and in the last hours fell sharply to close 3% lower. S&P 500 led the decliners with a fall of 3.2% followed by a loss of 3.1% in Nasdaq, and 2.93% in Dow Jones. Of the 500 members in S&P 500 index, 481 fell and 17 gained. All the 30 members in the Dow declined. European and Latin markets fell between 2% and 3%. Oil and gold declined.
