123jump.com Staff
02 Oct, 2007
New York City
In the late afternoon, stocks in New York were tradig lower. An index of existing home sales declined to a seven-year low. Sallie Mae received a revised offer of $50 per share, $10 lower from the previous offer. Oil fell and dollar rebounded. Energy stocks fell on lower oil. Gold dropped 2% as dollar rose against major currencies. Ford and Toyota auto sales in September fell. Honda and General Motors sales increase.
123jump.com Staff
02 Oct, 2007
New York City
Stocks in New York after one hour of trading fell. Asia closed sharply higher and European markets inched higher. Toronto Dominion Bank fell 5% after agreed to purchase Commerce Bancorp for $8.5 billion. The deal priced at 23 times fiscal 2008 earnings is expected to be accretive in 2009 and after. Citigroup agreed to purchase remaining stake in Nikko Cordial in Japan for $4.6 billion. Steel Dynamics agreed to buy OmniSource for more than $1 b. Thor reported better than expected earnings.
123jump.com Staff
02 Oct, 2007
New York City
Markets in Asia closed higher led by a sharp rise in Hong Kong, Indonesia, Singapore, and Philippines, and Taiwan. Hong Kong surged 4% on the gains in banking and real estate companies. China Mobile and Chine Netcom jumped. The expected fund flows from mailnad China helped the index to cross 28,000. Australia closed at a record high on two deals. Westpac took control of the troubled mortgage lender Rams. Private equity group Carlyle and National Hire revised bid for Coates was acccepted.
123jump.com Staff
02 Oct, 2007
New York City
Stocks in Asia closed at record levels led by a sharp rise in indexes in Hong Kong, Australia, Philippines, Taiwan, and Japan. Tokyo closed up 1.2% on reboundig banks and financial stocks. Yen traded at elevated levels as traders returned to carry trade arbitrage. Of the 225 stocks in Nikkei index, 171 closed higher. Sony forms a joint venture for consumer electronics chips with Qimonda. Hong Kong surges to 4% and retail sales in August soar 15%.
123jump.com Staff
01 Oct, 2007
New York City
Stocks in New York trading rallied after Citigroup and UBS reported large losses from credit market turmoil. Banks, home builders, and rating agencies jumped in the hope that now the losses can be estimatd for the industry. Citigroup reported a loss reflecting 2.5% of their subprime portfolio. UBS said that it expects a loss of 4 billion francs. Italy, Germany, and France rallied. Air France and Deutsche Borse jumped. Mining companies closed sharply higher. Brazil and Mexico surged.
123jump.com Staff
01 Oct, 2007
New York City
Stocks in London closed higer reflecting a rally on the first day of trading in Europe. FTSE 100 index added 0.6% to 6,506.20 after UBS and Citigroup reported sharp losses in its subprime related businesses. Index closed higher as investors welcomed more insight in the credit market malaise. Investors had anticipated wider losses. Mining stocks rose led by BHP, Vedanta, Anglo American, and Kazakhmys. Anglo American plans to lower its stake in Anglo Ashanti.
123jump.com Staff
01 Oct, 2007
New York City
European markets closed higher after a bruising third quarter. Indexes in the region were led higher by 1.3% rise in Italy and more than 1% rise in Switzerland and France. The Netherlands, UK, and Germany advanced as well. Nokia agreed to purchase digital mapping company Navteq for $8.1 billion. In London, mining compaies lifted FTSE index. Northern Rock fell 27%. In Germany, Lufthansa, Deutsche Postbank, and Lufthansa led the gainers.
123jump.com Staff
01 Oct, 2007
New York City
After four hours of trading market averages in New York reached higher with Dow Jones at a new high. NCR spun-off its data warehousing division Teradata. Nokia is reported to be in advanced discussion with digital mapping company Navteq for a price of $1.8 billion. Of the S&P500 stocks 406 traded higher. Walgreen fell 14% after reporting a decline in earnings on highe generic drug costs. A H Belo plans to spinoff newspaper busines from the TV operations.
123jump.com Staff
01 Oct, 2007
New York City
Stocks by mid-day traded higher despite earnings warning from Citigroup and UBS. Citigroup expect earings in the third quarter to fall 60% from a year ago. UBS in Switzerlnad also reported that it will report its first quarterly loss in nine years. Citigroup to record a loss of $5.9 billion arising from credit market turmoil and UBS to record a loss of 4 billion francs or $3.4 billion. Stocks of both companies traded higher after warnings.
123jump.com Staff
01 Oct, 2007
New York City
Stocks in Japan closed higher by 0.4% to 16,845.96. Tankan survey showed that large corporation have optimistic outlook for the businee and plan to invest in expanding their businesses. Of the Nikkei 225 stocks 196 closed higher. Sony completed its public offering in its life insurance unit near the high end of the filing range. Mitsubishi Motors led the stocks in the index with a rise of 5.2%. Yen weakened.
123jump.com Staff
28 Sep, 2007
New York City
On the last day of the third quarter stocks closed lower. For the quarter Nasdaq led the three popular indexes with a rise 3.8% and for the year with a gain of 11.9%. European indexes closed lower. Crude oil crossed $83 a barrel and gold surged $10 to close above $750 per ounce. Copper traded at elevated level.
123jump.com Staff
28 Sep, 2007
New York City
Sensex in Mumbai trading closed up 0.8% to 17,219, despite broader market decline. Of the total stocks traded on BSE, 1,392 fell, 1,362 gained, 58 were unchaged. Wholesale inflation has been on the decline according to government data. Strong fund flows, expectations of healthly profit increase, and steady participation from retail investors have taken index to a new high for two weeks in a row. Banks rose sharply. ICICI Bank jumped to a record on raising $2 billion. For the week Senex up 4.4%.
123jump.com Staff
28 Sep, 2007
New York City
Consumer spending rose 0.6% and personal income added 0.3% in August according to the Commerce Department. Consumers showed resilience in the aftermath of credit market turmoil. Construction spending fell 0.2% from July and 1.7% from a year ago. Chicago purchase index rose to 54.2. The strenght in the consumer spending surprised the market in the early trading but indexes dropped. Unemployment in Japan rose in August and retail sales fell in Germany. Euro at yet another record to dollar.
123jump.com Staff
28 Sep, 2007
New York City
Deutsche Telekom agreed to purchase Orange Netherlands from France Telecom for 1.33 billion euros in cash. After the acquistion the T-Mobile unit in the Netherlands will jump to market leader from its fourth ranking with 4.5 million subscribers. The acquisition is expected to generate savings of 1.1 billion euros. Vodafone will be second in the market. European stocks on the last day of trading were fractionally lower after a volatile quarter.
123jump.com Staff
28 Sep, 2001
New York City
In Tokyo trading Japan
