123jump.com Staff
10 Aug, 2007
New York City
Markets around the world were gripped by the widening subprime contagion. Averages in New York opened lower but managed to regain most of the losses by the end of the session. European markets closed at 4-year lows. Asian markets fell, led by 4.2% loss in korea and near 3% decline in Hong Kong, Australia, and Philippines. Japan, Brazil, and Mexico fell 2.2%. July trade surplus of China jumped 67%.
Elena
10 Aug, 2007
New York City
European stock markets posted Friday the sharpest decline four years amid constantly growing concerns that a widening credit crunch may hurt economic growth and corporate earnings. Banks in Europe, Asia and the U.S. injected billions more dollars into the banking systems Friday in order to boost liquidity in global markets. Investors sold off financials stocks. Deutsche Bank, insurer AXA and hedge-fund manager Man Group dropped. The U.K. tumbled 3.7%, France dropped 3.1%, Germany lost 1.5%.
123jump.com Staff
10 Aug, 2007
New York City
Sensex for on the last day of trading led by a fall in banks, real estate and telecom stocks. For the third week in a row Sensex declined. For the week Sensex lost 1.7%. Bharti Airtel added 2.1 million new subscribers in July. Tata Steel is exploring options to set up manufacturing operation in Thailand. Reliance Industries is reported to be in a deal with Egyptian government to set up oil and plastics business.
Elena
10 Aug, 2007
New York City
U.S. market averages continued to trade sharply lower but managed to pare some losses after the Fed Reserve made a second move Friday to ease the quell fears around the world by injecting another $16 billion into the market. Financial stocks posted significant losses, with Bear Stearns down 4.6%, Merrill Lynch losing 1.4% and Lehman Bros falling 2.6%. Countrywide Financial slid 8% after it said its allowance for credit losses climbed 97% from the end of last year.
Elena
10 Aug, 2007
New York City
Wall Street plunged for a second straight session, as credit markets concerns continued to generate negative mood. The Federal Reserve joint other central banks in their efforts to ease quell fears around the world by pouring cash into the markets for a second day. The Fed injected $19 billion into the banking system after the ECB added another $83.6 billion, and the Bank of Japan added $8.5 billion.
123jump.com Staff
10 Aug, 2007
New York City
The central banks around the world were forced to act to provide liquidity in the financial systems. The most active banks, the European Central Bank and the Federal Reserve Bank in Washington have added more than $200 billion of liquidity to keep the interest rates rising above target rates. The rates in euro zone had jumped to 4.7% in the morning trading inand in the U.S. had jumped to 5.5% in the afternoon trading yesterday.
123jump.com Staff
10 Aug, 2007
New York City
Asian markets fell sharply on psychological reasons. The fears of subprime loan losses, economic slowdown in the U.S., and credit crunch in the U.S. mortgage market affected trading sentiment. The central banks in Japan, Australia, Singapore were forced to inject liquidity in the financial systems to stem the rising interest rates. Korea led the region with a loss of 4.2%. Australia, Hong Kong, and Philippines fell nearly 3%. Chinese trade surplus in July jumped 67%.
123jump.com Staff
09 Aug, 2007
New York City
Fears of subprime gripped the market in the last hour of trading in New York. The averages suffered steep losses with no resistance in the final minutes. Dow, S&P 500 fell nearly 3%, and Nasdaq dropped 2.2%. The Fed and European Central Bank injected liquidity in the market. Wal-Mart reported July same store sales rise of 1.9%, that at Target increased 6.1%, and at Costco advanced 7%. European markets fell 2% across the region. Shanghai closed at record level for the third day in a row.
Elena
09 Aug, 2007
New York City
European stock markets closed steeply in the red on Thursday on growing concerns of slowing global economy due to troubles in U.S. credit markets. The subprime jitters were sparked by news that French bank BNP Paribus will suspend redemptions from three U.S. security backed funds because it was unable to properly value their assets. France led decliners with a drop of 2.2%, followed by Germany, down 2%, and the U.K. losing 1.9%.
123jump.com Staff
10 Aug, 2007
New York City
Tokyo index fell more than 2% with indexes in Asia fell across the region. The Central Bank had to step in to provide liquidity and stem the rsiing interest rates. Reserve Bank in Australia joined other central banks in the world to stem the rising interest rates. Shipping lines, banks, financial and brokerage companies stocks led the decliners.
Elena
10 Aug, 2007
New York City
Quarterly net income rose to $172.7 million, or 43 cents per share, up from $86.8 million, or 22 cents per share a year ago. Company
Elena
09 Aug, 2007
New York City
Renewed mortgage markets worries sent U.S. market averages sharply in the red, with the Dow sliding more than 240 points. The subprime jitters were sparked by news that French bank BNP Paribus will suspend redemptions from three U.S. security backed funds because it was unable to properly value their assets. Tension intensified after a move by the ECB to provide more cash to credit markets. The Fed Reserve added $12 billion to U.S. markets to help ease liquidity constraint.
Elena
10 Aug, 2007
New York City
U.S. stock futures predicted another day of heavy losses Friday, extending the steep decline from the previous session amid constantly growing credit market worries. On Friday, market received a fresh flow of cash by overseas central banks. The ECB injected 61 billion euros in a tender auction, and the central banks of Japan and Australia poured in roughly $12.5 billion. According to Citigroup, investors using quantitative strategies or computer models are experiencing a lot of difficulties.
123jump.com Staff
09 Aug, 2007
New York City
Sensex drops 1.4% on sharp fall in afternoon tradning tracking other markets in Asia. Bhel received orders to bulid three power plants worth 2,900 crore rupees. Reliance Communication completes its private plaacement of $340 million in its infrastructure unit. Banks, IT, and cement stocks led the decliners.
Elena
09 Aug, 2007
New York City
Wall Street posted heavy losses at opening Thursday, pressured by renewed global worries about credit markets. The jitters were sparkled by news that French bank BNP Paribas suspended three funds, blaming a lack of liquidity in the U.S. subprime mortgage market. After the news, the ECB said it allocated 94.841 billion euros to 49 bidders in a one day quick tender at 4% to add liquidity to the money market.
