123jump.com Staff
30 Oct, 2007
New York City
U.S. stocks fell ahead of rate decision by the Fed and weaker than expected outlook from Procter & Gamble. Three popular averages declined in the afternoon trading as oil and gold declined. Liz Claiborne earnings fell 65%. Merrill replaced its chief executive ater reporting subprime mortgage loss of $8.5 billion. European markets fell across the region. UBS reported quarterly loss of 830 million swiss francs. Dassaut Systems, Michelin, Statoil, and Norsk Hydro fell after reporting earning.
123jump.com Staff
30 Oct, 2007
New York City
Sensex in India fell nearly 1% after the Reserv Bank of India took steps to drain liquidity from the market. RBI increased the capital reserve ratio for banks by 0.5% to 7.5% and left the interest rates unchanged. The steady fund flows from the international markets has lifted rupee against dollar. RBI move is likley to curb the inflation.
123jump.com Staff
30 Oct, 2007
New York City
U.S. stocks open lower ahead of the Fed meeting to decide rate direction by tomorrow. Procter & Gamble reported fourth quarter earnings increased 14% and Colgate Palmolive earnings increased 22%. Liz Claiborne earnings plunged 65%. European markets are on the decline across the region on weaker than expected earnings from Norsk Hydro, Dassault, and Michelin. Asian markets declined. Shanghai soared for the second day of this week.
123jump.com Staff
30 Oct, 2007
New York City
Stocks in Tokyo edged lower after a sharp rally on Monday. The government reported that monthly household expenditure increased 3.2%, income rose 0.8%, and disposable income increased at 0.4%. The Labor Force Survey reported that the number of people not employed declined 3.9% to 2.69 million. Takeda, largest pharmaceutical company in Japan, fell 13% after it halted trials on cholesterol lowering drug and delayed filing for the memory-loss treatment drugs with the U.S.
123jump.com Staff
29 Oct, 2007
New York City
U.S. stocks edged higher in anticipation of a rate cut this week. Markets in Europe gained as well. Asian markets surged on a rate cut expectations in Japan, Australia, and India. Central banks in Australia, India, Japan, and the U.S. are likely to lower rates or leave them unchaged. Last week Mexico increased the rate by 0.25%. Gold and oil reached new highs as dollar fell to a record low against euro.
123jump.com Staff
29 Oct, 2007
New York City
Stocks in India surged agains reflecting a trend prevalent in the market for the last weeks. Sensex added 3.8% or 734.50 to close at 19,977.67 and reaching an intra-day high of 20,024. Sensex in the last five weeks has surged a whopping 42% standing at the second best performing market in Asia. State Bank of India, Maruti Suziki, and BHEL reported sharply higher earnings lifting the trading sentiment in the morning.
123jump.com Staff
29 Oct, 2007
New York City
Stocks after thirty minutes of trading retained a positive bias in New York. European markets at mid-day are trading nearly 0.7% higher acorss the region. In Asian trading India, Hong Kong, Korea, and Thailand surged. Oil traded above $93 per barrel and dollar fell to a record low against euro. Merrill Lynch fell a fraction after news report suggested that its chief executive may be forced out as early as today.
123jump.com Staff
29 Oct, 2007
New York City
Markets in Asia surged led by a sharp rise of 3.9% in Hong Kong and India. Banks and financial stocks rallied in Hong Kong. Infrastructure stocks led the index in India. Financials and ship builders led the index in Tokyo. September retail sales in tokyo edged higher. Nissan soared 14% after reporting better than expected operating earnings and sales. Nippon Yusen jumped 8.5%. Resource stocks in Australia led the index higher.
123jump.com Staff
26 Oct, 2007
New York City
U.S. stocks rallied at the opening and closed higher on better than expected earnings from Microsoft. Countrywide, the mortgage lender in the center of the subprime storm, reported third quarter loss of $1.2 billion but forecasted profit in the fourth quarter. For the week, Nasdaq jumped 2.9%, S&P 500 added 2.3%, and Dow up 2.1%. Bovespa Exchange in Brazil soared 52% on the first day of trading. Mexico raised its interest rate by 0.25% to 7.25%. Dollar edged to a record low against euro.
123jump.com Staff
26 Oct, 2007
New York City
U.S. stocks edged higher on stronger than expected earnings from Microsoft and profitable outlook from Countrywide Financial. Microsoft reported third quarter earnings rise of 24% and sales increae of 27%. Microsoft stoc surged 10% near $35, high not seen since July 2001. Countrywide reported third quarter loss of $1.2 billion, first quarterly loss in 25 years. Crude oil edged higher to a new peak. European and Asian markets closed higher.
123jump.com Staff
26 Oct, 2007
New York City
Countrywide Financial, the company at the center of the subprime mortgage storm, reported its first quarterly loss in 25 years. The company lost in the third quarter $1.2 billion or $2.85 per share. The mortgage loan origination declined to $90 billion in the quarter from $106 billion a year ago and from $123 billion in the second quarter. Countrywide said that 90% of its loan funds are now sourced through depositors at the bank and not from the capital markets.
123jump.com Staff
26 Oct, 2007
New York City
Tokyo stocks regained their footing as Nikkei 225 index increasd 1.4% to 16,505.63 on a recovery in banking stocks. Honda and Sony jumped nearly 9% after reporting sharply higher than expected earnings. Nissan reported sales increase of 12% and operating income rise of 13% on better sales in Middle East, Russia, and China. Sales in China rose 25% and in Middle East jumped 21%. Sales in Japan fell 7%. Sharp rise in oil lifted energy stocks. Daiwan Securities profit declined 14%.
123jump.com Staff
25 Oct, 2007
New York City
The Securities and Exchange Board of India clarified the rules for foreign investors and account registration. The so called P-notes, a popluar form of investment used by unregistered investments will have to unregistered in the next eighteen months. Non-profit organizations and pension funds will be required to register with the SEBI.
123jump.com Staff
25 Oct, 2007
New York City
Sensex in Mumbai trading increased 1.39% to close at another record high of 18,770.89. In broad based buying stocks in infrastructure, real estate, and banking sector led the gainers. After the close SEBI, regulatory arm of the Finance Ministry of India released rules for P-notes. Cipla profit increased 5.7% but at Reddys profit declined 5%.
123jump.com Staff
25 Oct, 2007
New York City
Stocks in Australian traded lower for a second day led by BHP Billiton and Australia and New Zealand Bank. ASX 200 index declined by 0.2% to close at 6,624.30. ANZ said it is likely to raise mortgage rates despite a warning from the Prime Minister John Howard and his Deputy Mark Vaile not to do so. Zinifex recorded 13% jump in zinc production. Australian dollar gained.
