Elena
17 Aug, 2007
New York City
European stock markets rebounded from steep declines in the previous session to close notably higher Friday. Markets rallied after the Federal Reserve cut the U.S. discount rate by half a point to 5.75%, trying to ease concerns over liquidity. European financials surged after the announcement. London soared 3.5%, followed by France which gained 1.9% and Germany, rising 1.5%.
Elena
17 Aug, 2007
New York City
U.S. market averages kept trading higher but erased some of the earlier gains, with investors mulling over the impact of the Fed''''s move to cut its discount interest rate, trying to ease concerns over liquidity. Bank stocks were among the most notable gainers, with JP Morgan Chase Co. rising 3% and Citigroup, moving up 1.6%.
123jump.com Staff
17 Aug, 2007
New York City
Asian markets closed sharply lower as investors dumped stocks. With the strength in the European markets, major indexes in Asia recovered some of the losses. Indonesia and Japan led the region with losses of 5.9% and 5.4%. South Korea dropped 3.2% and India closed 1.5% lower after opening with a loss of 4%. Hong Kong fell 1.4% but lost nearly 6%. Volatililty grippesd markets across the region.
123jump.com Staff
17 Aug, 2007
New York City
Sensex in India plunged 4% at the opening but managed to recover in the afternoon trading. The volatility in the U.S. market inflicted damages to markets around the world. Sensex closed 1.5% or 216 points lower to 14,141.52. The index for the week lost 6%. Of the 30 stocks in the index 26 declined and rest gained. Software exporters led the declilners. Satyam Computer fell 6%, Infosys and TCS dropped 3%. Wholesale inflation declined to 4.05% for the week ending on August 4th.
Elena
17 Aug, 2007
New York City
Wall Street surged at opening Friday, recovering from the multi-year slump seen over the past week amid continuous turmoil in the credit markets. Market returned back to normal trading after the Fed Reserve reduced its discount rate on loans to banks by half a point to 5.75%, thus easing liquidity worries. The Dow Jones jumped over 300 points. European stocks also took relief on the news to achieve a substantial recovery of 3% in the positive.
123jump.com Staff
17 Aug, 2007
New York City
Nikkei 225 Index fell to six-year low after plunging 5.4% or 874 points to 15,273.68. Export sensitive stocks led the decline in the market. Of the 225 stocks in the index, 200 stocks fell and only 23 managed to gain, 33 stocks fell more than 10%. Yen firmed to 111 against dollar. The Bank of Japan injected addditional 1.2 trillion yen of liquidity in the market.
Elena
17 Aug, 2007
New York City
U.S. stock futures rallied on Friday, recovering from steep losses in the previous session amid growing credit markets worries. The rebound followed an unexpected move by the Federal Reserve of reducing the discount rate by half a percentage point to 5.75%, trying to relieve investors'' fears about market liquidity. The Fed cut the rate that it charges member banks for loans.
Elena
17 Aug, 2007
New York City
The company said its earnings jumped 29% to $1.78 billion, or 66 cents per share, higher from the $1.38 billion, or 48 cents per share a year ago. Excluding one-time charges, HP earned 71 cents per share, beating the average analyst estimate of 66 cents a share. The tech giant reported 16% sales increase, totaling $25.38 billion. The stock edged down 0.11% in pre-market trading.
123jump.com Staff
16 Aug, 2007
New York City
It was a volatile and wild trading in New York. Market averages fell quickly at the open and fell more than 2% by mid-day. In the last thirty minutes averages made a sharp reversal and recovered almost all the losses. S&P 500 managed to close higher but Dow and Nasdaq suffered fractional losses. European markers closed lower, led by 4.1% decline in the UK. Chile and Brazil lost more than 3%. In Asia, Korea and Malaysia plunged 7%.
123jump.com Staff
16 Aug, 2007
New York City
FTSE 100 Index in London fell 4.1% as investors avoided mining and financial stocks. Of the 102 stocks listed in the index, all members declined. The steep decline in the index was widespread across the European region. Of th FTSE 100 stocks 30 stocks dropped more 5% and the rest declined between 1% and 4.9%. Antofagasta led the decliners with a loss of 11%. British Land lowered its earnings outlook and Royal Mail earnings fell on higher overhead.
Elena
16 Aug, 2007
New York City
European stock markets plunged Thursday, making the biggest one-day dip since the Iraq war. Stocks were dragged down by growing credit-market woes along with a heavy sell off in the shares of metals producers and financial services firms. Shares of asset manager Invesco dropped 6.5%, while Asian-focused bank Standard Chartered moved down 7.6%. London led decliners, down 4.1%, falling below the 6,000 level. France tumbled 3.3%, while Germany declined 2.4%.
Elena
16 Aug, 2007
New York City
U.S. stocks extended losses, reflecting weaker-than-expected housing data which is adding to recent concerns about the outlook for the housing market. Countinuing subprime mortgage woes and tightening lending standards also weighed. Countrywide Financial fell 15% after it drew on an $11.5 billion line of credit to fund its operations. The Federal Reserve injected another $17 billion of liquidity into the banking system.
123jump.com Staff
16 Aug, 2007
New York City
Sensex in Mumbai trading fell sharply reflecting Asia-wide decline. The Sensex opened lower after Independence Day holiday and fell sharply in the final hour of trading. Banks, real estate, and steel stocks led the declining stocks. DLF is in a deal to purchase DCM Shriram controlled textile mill complex for whopping 1,600 crore rupees. Tax collections are running 11% higher than a year ago according to Finance Ministry.
Elena
16 Aug, 2007
New York City
Wall Street posted a notable decline at opening Thursday, pressured by data showing a deepening slump in the housing market and news that the U.S. largest mortgage lender Countrywide Financial was drawing on an $11.5 billion line of credit to fund its operations. The stock slid 13%. Shares of luxury home builder Hovnanian Enterprises dropped 10%, while home builder Lennar was down 5.8%.
123jump.com Staff
16 Aug, 2007
New York City
Asian markets fell across the region as investors acted on fear that wider losses in the credit market may be coming in the U.S. mortgage industry. South Korea led the decliners with a drop of 7% followed by similar losses in Malaysia, Indoneisa, and Philippines. India lost 4.5%. Singapore and Hong Kong lost 3% and Japan fell 2%. China Mobile earnings jump. Li & Fung in Hong Kong surge 5% on earings. Korean banks fell.
