123jump.com Staff
11 Jan, 2008
New York City
China reported that 2007 trade surplus rose 48% to $262.2 billion on the back of global trade volume increase of 23.5% to $2.17 trillion. Exports rose 25.7% and imports increased 20.8%. Hang Seng Index in Hong Kong fell 1.3% or 363.85 to 26,867.01, a decline of 2.4% for the week. Telecommunication stocks rose after China Mobile merged with China Tietong Telecom. Refiners, property, and financial stocks declined in Hong Kong.
123jump.com Staff
11 Jan, 2008
New York City
Stocks in Japan fell sharply on the worries related to retail and realty stocks. Nikkei 225 declined 1.93% or 277.32 to close at 14,110.79 and the broader index Topix declined 1.7% to 1,377.58. J Front Retailing led decliners of the Nikkei 225 index shares with a drop of 10.72% followed by losses in Sumitomo Heavy Industry of 8.32%, in Tokyu Land Corp of 7.59%, in Sumitomo Realty of 7.26%, and in Nippon Sheet Glass of 7.10%.
123jump.com Staff
10 Jan, 2008
New York City
The ECB and BoE kept rates on hold on the worries of rising inflation, lifting the euro against dollar. French industrial output declined 1.3% in November from october and 2.3% from a year ago. German retailer Metro sales increased 10% to 65.9 billion in 2007 on the strength in the emerging markets lifting the stock by 6%. Lufthanssa December traffic increased 5.5% in December on more flights to Asia and U.S. Tisacali in Milan fell 6% after it received approval to buy Pipex broadband business.
123jump.com Staff
10 Jan, 2008
New York City
U.S. stocks rebounded after the news that Bank of America is in advacned talks to pruchase Countrywide Financial. Bank of America only few months ago acquired La Salle Bank based in Chicago and has made more than $100 billion of acquisition in the last four years. Countrywide stocks jumped 52% on the speculation but has lost nearly 90% from its peak of $45. Same store sales in December at retailers were weak and sales at apparel stores sell fell. Ann Taylor, Mens Wearhouse, Barnes & Noble fell.
123jump.com Staff
10 Jan, 2008
New York City
The Bank of England left interest rates unchaged at 5.5% after lowering the rates a month ago. The European Central Bank left rates at 4% as well. Rhetoric of inflation fighting from central bankers in Europe heated up as inflation in energy and food prices is above the target level. FTSE 100 index declined 0.8% or 50 to 6,222.70. Sainsbury led the advancers in the index with a gain of 6% on December sales rise of 5.9%.
123jump.com Staff
10 Jan, 2008
New York City
December U.S. same store sales were weak in general and especially for the department stores. Wal-Mart sales rose 2.4% but at Target sales declined 5%. Oil fell after the economic slow down worried gained momentum around the world and lifted transportation and airline stocks. Monthly gasoline purchase rose 1% from a year ago in December in the U.S. Captial One Financial lowered its 2007 earnings outlook. Tata Motors in India lauched $2,500 car, forcing others to lower prices.
123jump.com Staff
10 Jan, 2008
New York City
Tata Motors launched small car named Nano priced at 100,000 rupees ($2,500). India has seen a rapid growth in sales in small car segment in the last three years on the back of more than 7% economic growth. Tata Motors will compete with Suzuki, Bajaj, and Hyundai in a market for 300,000 small cars in India. Sensex closed lower 1.4% on the weakness in banking and financial services stocks.
123jump.com Staff
10 Jan, 2008
New York City
Australia is likley to miss most of the impact from the potential U.S. economic recession. Australia may b hurt if the Chinese demand slows down, but there may be a lag in the economi cycles. Economist Richard Gibbs of Macquarie Group said on the ABC Radio in Australia. The U.S. accounts only 7% of total Australian exports and economic slow down in the U.S. is not likely to have a direct impact on the Australian economy.
123jump.com Staff
10 Jan, 2008
New York City
The world number one aluminum maker
123jump.com Staff
10 Jan, 2008
New York City
Stocks in Japan fell on the worries that real estate stocks may be hurt in the domestic market as foreign banks may be forced to sell their holdings. Nikkei 225 dropped 1.45% or 211.05 to 14,388.11 and broader Topix Index declined 1.6% or 22.93 to 1,401.36. The Cabinet Office reported the leading index of economic performance dropped to 10.0 in November from 18.2 in October. Of the ten indicators nine indicated a contraction.
123jump.com Staff
08 Jan, 2008
New York City
Stocks in Japan edged higher afte a concerted efforts by business leaders and several analysts to encourage people to buy stocks. Several business leaders sggeste that Japanese stocks are undervalued. However, the positive statements did not help stock market. Nikkei 225 index edged 0.2% or 28.12 higher to 14,528.67 and Topix gained 0.74% or 10.35 to 1,403.06. Stocks in shipping, banking, and metals sectors advanced.
123jump.com Staff
07 Jan, 2008
New York City
Stocks in Australia fell sharply after investors worried that U.S. economic slow-down may spark a fall in commodities prices. ASX 200 index fell 2.3% or 145.20 to close at 6,161.60. Rio Tinto expressed an interest in acquiring Canada based Xemplar Energy. Xemplar controls uranium deposits in Namibia. ANZ was the second largest bank in Australia to raise interest rate in the last two days. Lynas Corp led the gainers and Fortescue led the decliners in the ASX 200 index.
123jump.com Staff
07 Jan, 2008
New York City
UK stocks edged lower after a survey of businesses prdecited a tougher business climate in the next six months. FTSE 100 index declined 0.2% or 12.80 to close at 6,335.70. Of the stocks in FTSE 100 index, 70 declined, 30 gained, and 2 remaied unchanged. Mark & Spencer and Sainsbury declined on the worries that holiday sales may not be as strong as estimated. Next and Kingfisher declined in sympathy as well. Metals and mining stocks fell.
123jump.com Staff
07 Jan, 2008
New York City
U.S. stocks traded sideways by mid-afternoon. Consumer sensitive stocks were weak in the morning trading hours. The three popular averages edged fractionally higher. Jeffries Group plunged 10% after it disclosed a loss of $24 million from two trading accounts involving its own capital. Jeffries also said that executives in the company will forgo bonuses and have closed two accounts. MasterCard fell for the fifth tradig day in a row. MSCI stock fell for the fourth trading day in a row.
123jump.com Staff
07 Jan, 2008
New York City
Stocks in India bucked the global and regional trends and closed higher. Sensex Index gained 126 or 0.6% to close at 20,812. Eighteen of the 30 stocks in the Sensex fell. Banks rallied after the news reports that the government is considering to scrap licensing requirements to open new bank branches. ICICI, State Bank of India, and Bank of India rose.
