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Market Update

UK Stocks Rebound; BT Dividend Cut

123jump.com Staff
14 May, 2009
New York City

UK stocks attempted a rebound after brokers recommended banks and mortgage lenders. Royal Mail returns to profit after heavy cost cuts. ITV revenues decline and look for more cost savings. Invensys surges on an increase in orders and a dividend hike. National Grid looks for rate hike.

China Stocks Edge Lower; Tencent Surges

123jump.com Staff
14 May, 2009
New York City

Stocks in Hong Kong and Shanghai fell after markets in the region tracked the losses in the U.S. and in Europe. Banks, electronics contractors and energy companies led the decliners. Tencent Holdings surged 10% and Foxconn declined 5%.

CME, MBIA Rise; Aegean, MGM Mirage Fall

Mayank Mehta
14 May, 2009
New York City

Mylan led the decliners in the S&P 500 index of 3.8%. Kohl

Australia Tracks Lower Metals; Leighton Drops

123jump.com Staff
14 May, 2009
New York City

Investors in Australia focused on the recent slide in metals prices. Fairfax Media dropped on rating downgrade. Leighton Holdings declined after nine month profit was cut in half.

Exporters Fall Hard in Tokyo; Sony Loss

123jump.com Staff
14 May, 2009
New York City

Stocks in Tokyo were hit hard after the unexpected fall in monthly U.S. retail sales. The recent rally of stocks was already losing its steam as investors are increasingly turning cautious. Sony, Inpex, NEC Electronics declined but NTT Group gained after the release of earnings.

India Inflation Falls; Election in Focus

123jump.com Staff
14 May, 2009
New York City

Election fever and a prospect of uncertain outcome overshadowed the trading sentiment in Mumbai. Banks and software exporters declined. Shipping lines gained on a rise in freight rate index. Wholesale price index increase dropped below 0.5%.

Pacific Basin, PetroChina to Raise Capital

123jump.com Staff
13 May, 2009
New York City

Investors in Hong Kong and in Shanghai struggle to gauge the durability of China stimulus plan. Companies in China are looking to raise capital as companies in Europe, Asia and U.S. race to repay debts. Pacific Basin Shipping and PetroChina tap investors.

Weak Opening in Sydney, GrainCorp Up

123jump.com Staff
13 May, 2009
New York City

Stocks in Australia to open lower on weak U.S. retail sales. GrainCorp Ltd lifted its annual earnings outlook on higher export tonnage for commodities. In the previous session, stocks traded sideways as commodities prices edged lower and speculators focused on BHP Billiton and Rio Tinto.

Weak U.S. Retail Sales, Earnings in Europe

123jump.com Staff
13 May, 2009
New York City

Stocks in New York declined on economic data and in Europe on weak earnings. April sales in the U.S. fell dampening investor sentiment. Earnings were mixed in Japan. More companies are looking to raise capital to repay debts as MGM Mirage filed to raise $2.5 billion.

European Markets Down; Allianz, Lagardere Fall

123jump.com Staff
13 May, 2009
New York City

European markets declined as cautious investors stayed on the side lines. Allianz SE dropped 8% on first quarter net income of near breakeven and Lagardere SCA plunged 7% after revenues declined 2%. Air France-KLM Group declined 6.5% after it reported April traffic decline of 2.8%.

UK Stocks Fall 2%; Land Securities Plunges

123jump.com Staff
13 May, 2009
New York City

UK stocks declined after the central bank offered cautionary outlook. Land Securities plunged after it reported weaker than expected results. J. Sainsbury annual net income increased 12%. Johnston Press plunged 38% on debt covenant issues.

MGM, Mirage, GT Solar, BankUnited Plunge

Mayank Mehta
13 May, 2009
New York City

Dr Pepper Snapple Group led gainers in the S&P 500 index with a rise of 6.4 %. Applied Materials, Inc says net losses will continue. BMC Software, Inc fourth quarter net falls. Dr Pepper Snapple Group, Inc first quarter profit climbs. MGM Mirage files to raise $2.5 billion and repay $1.7 in debt.

Hitachi Plunges; Nikon, Olympus, NTT Rise

123jump.com Staff
13 May, 2009
New York City

Earnings outlook and global economic worries dominated trading in Tokyo. Nissan reported sales decline and net loss but estimated smaller loss in the current year. Olympus and Citizen Holdings increased after it estimated net income in the current year. Hitachi Ltd plunged 10%.

Stocks in India Decline, DLF Sells 9.9% Stake

123jump.com Staff
13 May, 2009
New York City

Stocks in quiet trading gyrated ahead of election results and a prospect of uncertain outcome. DLF raised 3,860 crore rupees after founders sold 10% shares to investors including Fidelity, HSBC and hedge fund manager D.E Shaw & Co.

U.S. Home Sales Fall; Microsoft $3.75 B Debt

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

U.S. existing home sales declined in the first quarter and median home prices fell 14%. Trade deficit in March rose on higher energy cost. Microsoft priced its first ever debt offering of $3.75 billion. Freddie Mac reported first quarter loss of $10 billion and sought $6.1 billion from the U.S.