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Market Update

European Markets Mixed, Volkswagen Falls

123jump.com Staff
12 Jun, 2009
New York City

European markets are closed mixed as investors focused on the direction of euro and dollar and surmised that the current rally in stocks stretched. Volkswagen declined after the company cited weak global markets. Thomson SA in Paris surged on the hopes of debt restructuring.

Dollar, Commodities Drive U.S. Stocks

123jump.com Staff
12 Jun, 2009
New York City

For weeks now investors have focused on the rally in commodities and a growing bearish sentiment against the U.S. Treasuries and the dollar. Dollar gained and commodities prices declined. BlackRock agreed to pay $13.5 billion for investment unit of Barclays.

BlackRock Values Barclays Investment $13.5 B

Darlington Musarurwa
12 Jun, 2009
New York City

BlackRock agreed to acquire Barclays investment management unit for $13.5 billion. Barclays will record $8.8 billion in capital gains and lift its core capital ratio to 8%. Barclays and other banks will provide $2 billion in financing.

Nikkei in Japan at Nine-Month High

123jump.com Staff
12 Jun, 2009
New York City

Stocks in Japan closed higher after investors accumulated financials, retailers and industrial companies. Consumer confidence in May reached to eight-month high. Financial closed higher on earnings revisions from brokers. Nikkei 225 Average is now up 10% for the year.

Hartford, BlackRock Fall; E*Trade Surges

Mayank Mehta
12 Jun, 2009
New York City

Ameriprise completed its 36 million shares public offering. Hartford Financial declined after it agreed to receive $3.4 billion in TARP funds and raise $750 million in an offering. BlackRock agreed to acquire Barclays investment management unit for $13 billion. E*Trade surged.

Manufacturing Grows in India; Bond Yields Rise

123jump.com Staff
12 Jun, 2009
New York City

In India, industrial production rose in April on a rise in manufacturing and electricity output. Yield on 10-year bond increased to 6.94% and State Bank of India estimated 4% of loan portfolio in restructuring.

Oil, Copper, U.S. Bonds Close Higher

123jump.com Staff
11 Jun, 2009
New York City

The bonds yields declined after better than expected interest from international investors during the 30-year $11 billion bond offering. Bank of America chief cited pressure from the U.S. as one of the reason to complete the Merrill Lynch deal.

UK Banks Rebound; Chapelthorpe Plunges

123jump.com Staff
11 Jun, 2009
New York City

UK stocks rebounded after talks of economic recovery lifted trading sentiment. Banks closed higher. After the release of earnings Chapelthorpe plunged 10% and Charles Stanley dropped 5%.

Retail Sales Lift U.S. Stocks; Vulcan Drops

Darlington Musarurwa
11 Jun, 2009
New York City

U.S. stocks rallied after retail sales increased for the first time in three months. Unemployment claims declined to the lowest in six months. Vulcan Materials plunged on stock offering and dividend cut. Bank of America, Regions Financial and Fifth Third Bank led gainers.

Japan GDP Declines at 14.2%; Nippon Steel Rises

123jump.com Staff
11 Jun, 2009
New York City

Japan first quarter GDP decline was revised to 14.2% from 15.2% on lower decline in capital spending. Stocks that are expected to benefit from the cyclical recovery in the economy closed higher. Steelmakers surged with Nippon Steel, Kobe Steel and JFE leading gainers.

Inflation Near Zero in India; Satyam Surges

123jump.com Staff
11 Jun, 2009
New York City

Wholesale inflation in India at the end of May dropped to 0.13% and stocks closed lower after rallying for thirteen weeks. State controlled oil refining and marketing companies fell after crude oil prices increased and IEA revised its demand for global oil demand.

Industrials Rise in Europe; Club Med Falls

123jump.com Staff
11 Jun, 2009
New York City

European stocks edged higher as more investors focused on the global economic recovery. Industrials, steelmakers and heavy equipment makers gained. Fiat SpA, the sixth largest automaker now focuses on integrating Chrysler and debt reduction.

German Inflation to Zero; Adidas Surges 7%

Darlington Musarurwa
10 Jun, 2009
New York City

European stocks closed higher as energy prices gained. German inflation fell to zero, 22-year low and French manufacturing index declined. UK trade deficit increased. HeidelbergCement lowers its stake in Indonesian cement company and Accor sold 4% stake in Club Med.

U.S. Bond Yields on Rise; Deficit Up 14%

123jump.com Staff
10 Jun, 2009
New York City

The yields on U.S. Treasuries increased as the bond auction raised $19 billion. The U.S. budget deficit in May surged 14% to $189.7 billion. Russia may switch some of its dollar reserves in the IMF bonds. Bond yields are now nine-month high as the U.S. debt offering surges.

Metals Lift UK Stocks; Heritage Oil Plunges

123jump.com Staff
10 Jun, 2009
New York City

UK stocks edged higher today tracking gains in commodities. Stocks are now following the trends in the commodities and in energy markets. UK production output declined and trade deficit increased to