123jump.com Staff
05 Feb, 2008
New York City
Stocks in India rested after two days of volatile trading. Sensec added 2.84 to 18,663.16 after a fall in the early hours of trading. Financials, metals, and software exporters declined. Hero Honda fell 6% and HDFC Bank declined 2.1%. Maruti Suzuki is expected to launch new car to compete with Nano made by Tata Motor and sell it at 150,000 rupees. Indian Oil, Hindustan Petroleum, and Bharat Petroleum gained on the expected fuel price increae at the end of this week.
123jump.com Staff
05 Feb, 2008
New York City
UK stocks fell after the new worries related to the U.S. economic growth hobbled the markets in the U.S. and Europe. Home builders and retailers fell with the market. Of the 102 FTSE 100 stocks Shire Plc led advancers with a rise of 0.85% followed by rises in Scottish & Newcastle of 0.19% and in BP Plc of 0.18%. Net income at British Petroleum in 2007 fell 5.5% on 6.2% rise in revenue. Taylor Wimpey led the decliners in the index with a fall of 8.1%.
123jump.com Staff
05 Feb, 2008
New York City
U.S.stocks edged lower after a read on the service economy in January declined sharply, sparking worries of economic recession. ISM index for non-manufacturing ssector declined to 41.90 in January from 54.4 in December. A sudden and sharp reversal failed to meet projections from most economist for an index between 51 and 53. Whirlpool surged 9% after reporting better than expected earnings on higher international sales. Church & Dwight added 3% on higher earnings.
123jump.com Staff
05 Feb, 2008
New York City
Stocks in Hong Kong edged lower on a shorter trading session ahead a week of holiday for Lunar New Year. Hang Seng fell 0.9% or 223.38 to close at 24,808.70 and China Enterprises index of H-shares slumped 0.57% to 14,040.68.ICBC Bank has gained approval of shareholders and South African regulators for its stake in Standard Bank.
123jump.com Staff
05 Feb, 2008
New York City
The Reserve Bank of Australia raised interest rate by 0.25% to 7% citing inflationary pressures and fragility of the global financial markets. The bank said that the underlying inflation is running above its target between 2% and 3%. Commonwealth, BankWest and ANZ passed the revised rate to borrowers immediately. News Corp reported second quarter net income of $832 million on 9% rise in revenue.
123jump.com Staff
05 Feb, 2008
New York City
Stocks in Japan closed lower after a string of weak earnings. Toyota reported sales rise of 9.2% and earnings gain of 7.5% in the third quarter and forecasted that the profit may decline in the current quarter on weak sales in the U.S. Toyota fell 1.8%. Mitsubishi Estate declined 4% after it reported third quarter revenue decline of 26% and income fall of 18%. Camera company Nikon reported third quarter sales increase of 14% and net income gain of 13%.
123jump.com Staff
04 Feb, 2008
New York City
Faster rise in energy prices contributed to a rise of 4.3% in producers price index in December after gaining at a rate of 4.2% in November. energy prices surged 8.3% lifting the inflation above the comfort of most analysts. The index, excuding energy and construction, gained 0.1% as well. Theolia added 5% after rising 7.5% in the last week on bid speculation. Intensa Sanpaolo agreed to pay 504 million euro to acquire JSC Pravex.
123jump.com Staff
04 Feb, 2008
New York City
The President Bush proposed fiscal 2008 budget of $3.1 trillion, first ever above $3 trillion mark, and projected a budget deficit of 2.9% in 2008 and 2.7% in 2009. Fiscal 2007 budget deficit is estimated at 1.8%.
U.S. stocks edged lower on the weakness in the financials. UBS downgraded banks and credit card companies and said that weak consumer spending will lower the earnings in the sector. Discover, American Express, and JP Morgan fell, but MasterCard rose.
123jump.com Staff
04 Feb, 2008
New York City
Royal Bank of Scotland jumped 4.3% on the talks that the company may sell a stake to China controlled bank or a fund. The talks of stake sale lifted other financial stocks as well. Alliance Leicester jumped 1.6% and Barclays added 1.9%. Investors appeared in no mood to take position ahead of the interest rate decision at the end of this week. Carphone Warehouse fell 7% on the worries that its sale of mobile phones may have slipped.
123jump.com Staff
04 Feb, 2008
New York City
Stocks in Hong Kong rebounded after a surge of 8.1% in Shanghai market. Financials, metals, and banks rallied. In Hong Kong trading Hang Seng Index rose 3.8% or 908.50 to 25,032.08, and China Enterprises Index gained 6.29% to 14,120.84. The indexes gained after China Composite rebounded to 8.13% or 351.4 to 4,672.17. The World Bank lowered its growth estimate for China to 9.6% from its previous forecast of 10.8%.
123jump.com Staff
04 Feb, 2008
New York City
U.S. stocks edged lower after the White House proposed a budget with rising deficit on the cost of war and fiscal stimulus. the budget deficit is projected to rise from 1.8% in 2007 to 2.9% in 2008 and 2.7% in 2009. The White House budget also projects a decline on receipt from lower tax revenues in 2008.
123jump.com Staff
04 Feb, 2008
New York City
The President
123jump.com Staff
04 Feb, 2008
New York City
Asian markets rallied across the region led by a sharp rebound in Shanghai, Hong Kong, and Japan. Japanese stocks advanced after the offer of $45 billion from Microsoft for Yahoo. Softbank soared 18% on the news. Softbank owns 52 million shares in Yahoo and owns 41% of Yahoo Japan. Financial stocks in Japan closed higher on the news that a group of eight large banks are working on a plan to provide financing to MBIA and Ambac, two large bond insurers in the U.S.
123jump.com Staff
01 Feb, 2008
New York City
A surprise stake at a 21% premium in Rio Tinto but a team of two aluminum companies lifted the mood investors. Stocks rallied led by asurge in mining companies.Rio Tinto increaesd 13%, BHP soared 10%, Vedanta Resources added 9%, and Antofagasta increased 7%. Xstrata, involved in talks with Rio added 5%. Purchasing Managers Index showed a decline in manufacturing activity in January. British Land fell on downgrade. Biffa and FKI rose on takeover speculations.
123jump.com Staff
01 Feb, 2008
New York City
European stock markets gained 2% or more after two aluminum companies teamed to bid for a stake in Rio Tinto. The 12% stake purchased by Chinalco and Alcoa at 21% premium lifted mood across the region. U.K., France, the Netherlands, and Norway gained nearly 2.5%. Mining companies across the region closed higher. ThyssenKrupp gained 6% after it reported to buyback stocks and may be make acqusitions. Vinci in Paris traded higer on quarterly sales rise.
