Elena
03 Aug, 2007
New York City
European stock markets closed in the negative territory, pressured by fears of slowing U.S. economy amid a weaker-than-expected jobs data. The economy-related concerns offset the positive sentiment generated by strong earnings reports from companies like British Airways. France led decliners with a 1.5% drop, followed by Germany, losing 1.3% and the U.K. falling 1.2%.
123jump.com Staff
03 Aug, 2007
New York City
Sensex in India recovered but fell for the second week in a row. Real estate, banks, infrastructure, and cement stocks led the rally. Wholesale inflation declined at the end of the third week in July but remaied above the target range. JSW Steel reported 18% increase in July steel production. Banks gained for the second day in a row on the news that SBI is planning a stake sale in its asset management unit. Sensex is up 12% for the year so far.
Elena
03 Aug, 2007
New York City
Weaker-than-expected economic data and continuing credit market jitters weighed stocks down Friday. U.S. market averages posted a steeper decline in late morning trading, receiving additional pressure from 4% drop in the shares of Bear Stearns Cos. after Standard & Poor''s downgraded its outlook for the company to negative. As a result the financial and brokerage sectors declined, with Lehman Brothers falling 3% and Merrill Lynch losing 1.5%.
Elena
03 Aug, 2007
New York City
Wall Street started Friday session moderately lower after an economic report showed a weaker-than-expected jobs growth and higher unemployment in July. In corporate news, Procter & Gamble posted 19% earnings rise on new productsin and said it will repurchase up to $30 billion in shares over the next three years. In Q2 it earned 67 cents a share, up from 55 cents a year earlier on, beating estimates. The stock lost 0.9%.
123jump.com Staff
03 Aug, 2007
New York City
Shanghai stock market has been on a tear and today was no different. CSI 300 and the Shanghai Composite advanced by more than 3.5%. Banks, financial brokerage, and property stocks led the advance. Lenovo Group in Hong Kong reported revenue rise of 13% and earninngs jump more than ten fold. China reported that its airoport and airline industry retunred to profitability at the of the last quarter. Daily new stock brokerage account averaged 122,000 in July.
Elena
03 Aug, 2007
New York City
U.S. stock futures declined Friday, as jobs data reignited worries that weakness in the housing sector will continue spreading. A Labor Department report showed slowing jobs growth in July and the highest unemployment rate since January. Nonfarm payrolls expanded by 92,000 in July, lower than the 133,000 expected by economists. The unemployment rate gained to 4.6% from 4.5% in the previous month.
123jump.com Staff
03 Aug, 2007
New York City
Weaker yen and steady market share rise in Asia, North America, and Europe helped Toyota to report rising earning. The worldwide sales at the company jumped 16% lifting earnings in the first quarter by 32.5%. The unit sales gained in the U.S., Europe, and Asia but fell 9% in Japan. Recent earthquake has hampered production of vehicles in Japan. Stock traded higher in Frankfurt trading in the early afternoon.
123jump.com Staff
03 Aug, 2007
New York City
Nikkei edged lower for the day rounding off the week with a loss of 1.8%. The index caught in a downward draft generated from credit worries in the U.S. housing market has been trying fight back on the back of rising earnings. Sumitomo Realty reported sharply higher earnings reflecting rising apartments values in Tokyo. Asahi Brewries earnings fell. Furukawa Electric reported disappointing earnings. Kubota Corp earnings jumped 6%.
Elena
03 Aug, 2007
New York City
The lender revealed plans to close most operations on Friday and reduce nearly 7,000 jobs. The company said its employee base will be reduced to about 750 workers, down from the 7,409 it reported at the end of 2006. According to experts, company will have to seek bankruptcy protection, and no later than Monday.
123jump.com Staff
02 Aug, 2007
New York City
Market averages in New York inched higher in the afternoon trading. Weekly jobless number, factory order report in the morning did not affect trading. Earnings from Unilever, Credit Suisse, Viacom, Nokia, Starbucks, and Eastman Kodak bolstered the sentiment. In the afternoon, New York averages climbed. The Bank of England and European Central Bank left rates unchaged. Fiserv agreed to purchase Checkfree for $4.4 billion in cash. Oil complex stocks fell. Genpact IPO jumped 20% in New York.
Elena
02 Aug, 2007
New York City
European stock markets ended higher on Thursday, led by gains in the shares of Unilever and Nokia. Financial services stocks also contributed to the upward mood after several leading banks including Credit Suisse reported strong profit growth. Gains on Wall Street and unchanged interest rates gave additional boost to European stocks. Both Germany and the U.K closed up 0.8%, while France advanced 0.5%.
123jump.com Staff
02 Aug, 2007
New York City
Sensex fell below 15,000 but stabilized after a week of volatility. Auto sales dropped in July dragging auto and motorcycles. Bajaj and Hero Honda sales fell. But, sales of Tata, Mahindra & Mahindra, Maruti sales jumped. State Bank of India plans to separate its asset management and life insurance divison.
Elena
02 Aug, 2007
New York City
U.S. market averages kept trading higher, lifted by strong earnings from Nokia, Starbucks, Walt Disney. A takeover deal gave a boost to the market sentiment. Fiserv Inc., a provider of information management systems and services, agreed to buy online banking company CheckFree for $4.4 billion in cash. CheckFree''s shares surged 24%. Under the terms of the deal, Fiserve is offering $48 for each CheckFree share, a 30% premium over their closing price of $36.83 on Wednesday.
Elena
02 Aug, 2007
New York City
Drug store company CVS Caremark rise 2.3% after it said its Q2 profit and revenue doubled. The company earned 47 cents per share, compared with 40 cents per share last year, beating estimates.Automotive parts supplier Lear Corp. rose nearly 4% after it reported earnings of $1.58 per share versus a loss of 10 cents per share a year ago, exceeding expectations of 91 cents.
123jump.com Staff
02 Aug, 2007
New York City
Market averages across the European region advanced on stable interest rates. The ECB and the Bank of England kept the interest rates unchanged but rates remained at elevated levels. Fresenius Medical Care reported 38% increae in earnings. Unilever earnings jumped 18%. The company plans to cut 11% of its worldwide staff. Germany based Solarworld reported earnings gain as well. France Telecom earnings rose 41% and Credit Suisse earnings increased 48%.
