123jump.com Staff
06 Oct, 2008
New York City
The emerging markets plunge around the world as the deepening banking crisis spreads to Europe. Markets in Russia plunge 19% and in Indonesia and Brazil dive 10%, Saudi Arabia sank 9.8%, Turkey and Canda drop 7%. Most markets in Europe are down 5% and three popular indexes in the U.S. are 4% lower.
123jump.com Staff
06 Oct, 2008
New York City
European leaders struggle to formulate a regional response to a growing banking crisis. Germany was forced to bailout the second largest real estate lender Hypo Real Estate Holding. Unicredit in Italy offered 6.6 billion euro recapitalization plan. Fortis was seized in Holland.
123jump.com Staff
04 Oct, 2008
New York City
UK increased its deposit insurance coverage to
123jump.com Staff
02 Oct, 2008
New York City
The UK home prices declined 2.4% in September as tight credit conditions and weak consumer confidence drive away buyers. Stocks in London declined ahead of the U.S. House vote on controversial bailout plan. Marks & Spencer lowered its capital spending plans and reported same store sales decline.
123jump.com Staff
03 Oct, 2008
New York City
Stocks in Sydney, Australia trading fell as more evidence emerged that the U.S. economy is heading from a slow down to a recession. Precious metals prices fell and dragged the stocks of BHP, Rio Tinto and McArthur Coal to sixteen months low. Australian stocks are down 26% for the year.
123jump.com Staff
03 Oct, 2008
New York City
The Bank of Japan added 800 billion yen in the money market to facilitate intebank lending. However stocks in Japan fell nearly 2% and for the week declined more than 8%. Auto and construction machinery makers and oil refiners dropped. Toyota and Honda dropped more than 5%, Nissan declined 7%.
123jump.com Staff
03 Oct, 2008
New York City
Hong Kong retail sales in August rose 10.4% and in the first eght months gained 15% in value and 8.3% in volume. Hang Seng index declined nearly 3% as persisten troubles in the U.S. credit markets will slow down the China region economy.
123jump.com Staff
03 Oct, 2008
New York City
The U.S. market indexes dropped despite the passage of the bank bailout bill with $700 billion provision. For the Week, the indexes Nasdaq dropped 11%, S&P 500 plunged 9.4% and Dow fell 7.3%. The credit markets between banks remained tight and Libor rate reached record levels.
123jump.com Staff
03 Oct, 2008
New York City
Regional banks and insurance companies rally on the hopes of bank bailout bill passage in the U.S. House. Wachovia surges on a higher bid from Wells Fargo. Penn National lowers revenue and earnings outlook.Compass Minerals soars on a ratings upgrade from JP Morgan.
123jump.com Staff
02 Oct, 2008
New York City
Fear of more declines and uncertainty of the U.S. House vote on banks bailout dragged the market lower. The U.S. benchmark indexes drop between 3% and 4.5% and European markets fell nearly 2%. Gold and oil futures decline 5%. Hartford Financial plunges 32%. GE declines 10% and raises $12 billion.
123jump.com Staff
02 Oct, 2008
New York City
Australia reported its August trade surplus of A$1.3 billion from a revised deficit of A$697 million as exports rose 6% from a year ago and imports declined 2%. In trading, stocks edged lower as credit market remained tight and futures in metals market were on the decline.
123jump.com Staff
02 Oct, 2008
New York City
Japan auto sales in the U.S. plunged 30% as sales of light trucks and SUVs fall. The large decline of what was widely believed as stable market for the Japan auto makers put investors on the defensive. Steel makers and construction machinery companies fell the most in more than three years.
123jump.com Staff
02 Oct, 2008
New York City
Insurance stocks decline for the third week in a row and and for the third day of the week as brokerage firm lower rating on companies. Two brokerage firms lowered outlooks on Principal Financial Group and MetLife. Prudential and Hartford Financial continue their slide for the week.
123jump.com Staff
02 Oct, 2008
New York City
Agro-chemicals stocks plunged after the earnings miss from the Mosaic Corp. Merrill Lynch lowered its ratings on Agrium and Potash. Mosaic dropped 31% and dragged down Bunge Ltd by 21%, Potash Corp by 25% and Intrepid Potash 22%. Marriott fell as much as 10% on weaker earnings outlook.
123jump.com Staff
02 Oct, 2008
New York City
General Electric completed its $12.2 billion in public offering after denying for months that it needs outside capital. The offering will help the financial services company to build its reserve and help the engineering giant in preserving its AAA rating.
