123jump.com Staff
13 Aug, 2007
New York City
Sensex in India trading closed above 15,000 led by a rise in consumer and defensive stocks and lower trading volume. Select banks, cement and IT stocks closed higher. Recently listed Everonn Systems surged 14%. Hindustan Uniliver jumped 4% and other consumer stocks including ITC, Bata, Godrej closed higher. IT stocks fell on firm rupees. Bharti and Reliance Communication jumped after the government said that 6.5% of rural population have cell phone service, three years ahead of its target.
Elena
13 Aug, 2007
New York City
U.S. market averages rebounded Monday after the Fed Reserve and other central banks injected more cash into global financial systems, easing concerns about credit tightness. The Federal Reserve added only $2 billion in liquidity into the market, far below the $52 billion requested by banks. Goldman Sachs Group added 1% after it said it invested additional $3 billion in its troubled Equity Opportunities hedge fund.
Elena
13 Aug, 2007
New York City
Blackstone Group advanced 5.5% on a stronger-than-expected Q2 profit. Blackstone Group said Q2 net income tripled to $774.4 million from $224.1 million. In its first quarterly report as a public company, Blackstone posted revenue of $975.3 billion, below analyst estimates of $1.06 billion. The company''s IPO in June raised about $4 billion, but the stock fell short of expectations.
123jump.com Staff
13 Aug, 2007
New York City
Asian markets closed higher led by record close in Shanghai and a rebound in Korea and Australia. Other markets edged higher a fraction. In volatile trading markets rebounded on light volume. Australia raised its forecast for inflation to 2.5% by the end of the year and 3% in 2008. China inflation jumped on sharp increase in food prices. Pakistan continued to decline on political worries.
Elena
13 Aug, 2007
New York City
Wall Street opened Monday session in the positive after the Fed said that it would add liquidity, following a move by the Bank of Japan to inject $5 billion into the markets and an addition by the ECB of $65.3 billion. Goldman Sachs posted steep losses at its Global Equity Opportunities fund but said the firm made a $3 billion investment in it. Commerce Department''s report showing a 0.3% increase in July retail sales also generated positive sentiment.
123jump.com Staff
13 Aug, 2001
New York City
Sennsex rebounded after declining in the last two days of the week. The central bank added liquidity of $5 billion in the financial syste to keep the interest rate below the target rate of 0.5%. Japan second quarter economic growth rate was reported at 0.5% and current account surplus i June was recorded at 1.2 trillion yen. Falling wages kept the consumer spending weak. of the 225 stocks in the Nikkei index 111 increased and 110 fell.
Elena
13 Aug, 2007
New York City
U.S. stock futures pointed to recovery Monday, following a week of steep declines amid worries about the impact of subprime-mortgage defaults over the economic growth. However, overseas central banking injections helped relieve tensions. Banks are expected to release updates on the hits they have taken from the subprime crisis. Citigroup reportedly lost more than $700 million in credit business in recent weeks.
Elena
13 Aug, 2007
New York City
Akzo Nobel, Dutch chemicals group, announced on Monday an agreement to acquire U.K. rival Imperial Chemical Industries in a cash deal worth 8 billion pounds ($16.2 billion), or 670 pence a share. The transaction represents a 22% premium on the share price before the U.K. group announced it had received an approach in June. Akzo''s previous offers of 7.2 billion pounds and then 7.8 billion pounds had been rejected by ICI.
123jump.com Staff
10 Aug, 2007
New York City
Markets around the world were gripped by the widening subprime contagion. Averages in New York opened lower but managed to regain most of the losses by the end of the session. European markets closed at 4-year lows. Asian markets fell, led by 4.2% loss in korea and near 3% decline in Hong Kong, Australia, and Philippines. Japan, Brazil, and Mexico fell 2.2%. July trade surplus of China jumped 67%.
Elena
10 Aug, 2007
New York City
European stock markets posted Friday the sharpest decline four years amid constantly growing concerns that a widening credit crunch may hurt economic growth and corporate earnings. Banks in Europe, Asia and the U.S. injected billions more dollars into the banking systems Friday in order to boost liquidity in global markets. Investors sold off financials stocks. Deutsche Bank, insurer AXA and hedge-fund manager Man Group dropped. The U.K. tumbled 3.7%, France dropped 3.1%, Germany lost 1.5%.
123jump.com Staff
10 Aug, 2007
New York City
Sensex for on the last day of trading led by a fall in banks, real estate and telecom stocks. For the third week in a row Sensex declined. For the week Sensex lost 1.7%. Bharti Airtel added 2.1 million new subscribers in July. Tata Steel is exploring options to set up manufacturing operation in Thailand. Reliance Industries is reported to be in a deal with Egyptian government to set up oil and plastics business.
Elena
10 Aug, 2007
New York City
U.S. market averages continued to trade sharply lower but managed to pare some losses after the Fed Reserve made a second move Friday to ease the quell fears around the world by injecting another $16 billion into the market. Financial stocks posted significant losses, with Bear Stearns down 4.6%, Merrill Lynch losing 1.4% and Lehman Bros falling 2.6%. Countrywide Financial slid 8% after it said its allowance for credit losses climbed 97% from the end of last year.
Elena
10 Aug, 2007
New York City
Wall Street plunged for a second straight session, as credit markets concerns continued to generate negative mood. The Federal Reserve joint other central banks in their efforts to ease quell fears around the world by pouring cash into the markets for a second day. The Fed injected $19 billion into the banking system after the ECB added another $83.6 billion, and the Bank of Japan added $8.5 billion.
123jump.com Staff
10 Aug, 2007
New York City
The central banks around the world were forced to act to provide liquidity in the financial systems. The most active banks, the European Central Bank and the Federal Reserve Bank in Washington have added more than $200 billion of liquidity to keep the interest rates rising above target rates. The rates in euro zone had jumped to 4.7% in the morning trading inand in the U.S. had jumped to 5.5% in the afternoon trading yesterday.
123jump.com Staff
10 Aug, 2007
New York City
Asian markets fell sharply on psychological reasons. The fears of subprime loan losses, economic slowdown in the U.S., and credit crunch in the U.S. mortgage market affected trading sentiment. The central banks in Japan, Australia, Singapore were forced to inject liquidity in the financial systems to stem the rising interest rates. Korea led the region with a loss of 4.2%. Australia, Hong Kong, and Philippines fell nearly 3%. Chinese trade surplus in July jumped 67%.
