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Market Update

European Markets Fall on Fraport, Arcelor, RBS

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

European markets edged lower on a weakness in banks and industrials. Retailers in UK gained. Fraport AG and ThyssenKrupp dropped on weak earnings outlook. ArcelorMittal guided global steel sales to drop as much as 20%.

Tokyo Stocks Weken; Asahi Glass Surges

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

Stocks in Japan declined on the worries that global markets may have advanced too far. Weak outlook from Isuzu and Daiichi Sankyo also affected trading. Autos and financials declined. Hitachi reported higher than expected loss for the current year.

Alpha Natural Acquires Foundation Coal

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

Two coal miners merge to form the third largest coal company with mines in some of the coal rich areas of the U.S. The deal will strengthen both companies in negotiating with utilities and steel companies. Foundation Coal surges after the Alpha pays 37% premium.

Fluor, Massey, Ctrip, Winn-Dixie Surge

Mayank Mehta
12 May, 2009
New York City

General Motors Corporation led the decliners in the S&P 500 index of 17.3%. Air Transport Services Group Inc reports strong first quarter earnings. CDC Corporation turns to profit in first quarter. MBIA Inc posts first quarter profit after 5 straight losses.

March Trade Deficit Rise on Oil Imports

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

The U.S. trade deficit in March edged up after weakening in February. Rising energy import prices and stubborn deficit with China, EU, OPEC, Japan and Mexico contributed to the persistent deficit.

Ford, Anadarko, BofA Raise Capital

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

U.S. market indexes traded volatile as more banks and companies complete offering of stocks and debts or sell assets. Crude oil price rebounded and traded near $60 a barrel. March trade deficit increased on a rise in imported energy prices and larger decline in exports than in imports.

Stocks in India Surge; Election Optimism

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

Stocks surged on speculation that BJP led coalition is likely to lead in the parliament election. Investors are looking for a clear majority for one coalition to lead the nation and bring political stability. Banks, realty and capital goods stocks linked to infrastructure led gainers.

China Stocks Fall; Citic Bank in $1.8 B Deal

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

Stocks in Hong Kong and Shanghai dropped on a weakness in financials. China

Financials Pullback; Microsoft Debt Offering

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

U.S. stocks declined after investors pulled back from financial stocks. Five banks took advantage of recent market strengths and filed to raise capital. Microsoft is expected to price its first debt offering of as much as $3.7 billion. Markets in Europe declined on a weakness in energy and metals.

Lonmin Plunges, HSBC Rising Bad Debts

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

Stocks in UK declined after metal prices weakened and HSBC reported a rise in bad debt provisions. Lonmin plunged 10% after it offered a right issue and reported operating loss. Centrica agreed to pay

India Stocks Fall, Unilever Weak Profit

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

Economy in India expanded at 6.5% in the fiscal year ending in March of 2009. Stocks and rupee declined ahead of election results and weak sentiment in global markets. Hindustan Unilever dropped after it reported weak earnings rise. Industrial production in March is expected to fall.

Huntington Banc, Surges; CB Richard Plunges

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

Huntington Bancshares Incorporated led gainers in the S&P 500 index with a rise of 10.5%. Clear Channel Outdoor Holdings, Inc posts first quarter loss. Furmanite Corporation first quarter profit declines. The PMI Group, Inc posts first quarter loss but tops street forecast.

KeyCorp, Capital One, BB&T, US Bancorp Offerings

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

More banks use the current market conditions to raise additional capital and cut dividend to meet regulatory capital requirements. Capital One, KeyCorp, BB&T Corp and U.S. Bancorp filed or declared to raise capital.

Santos A$3 billion Offering

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

Australian business conditions improve in April. Santos to raise A$3 billion for expansion in Papua New Guinea and repay $600 million of hybride securities issued in 2004. Exxon controls 41% stake in the venture. Fortescue Metals Group may list its shares in Shanghai.

Toyota, Bridgestone Drops; Orix Surges

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

Stocks in Tokyo edged higher and yen declined 1.3%. The commodities prices in the region remained elevated as the optimism about global economy prevailed. Financials and real estate companies led gainers. Orix surged on estimate of 37% income rise but Bridgestone dropped 7% wider loss.