123jump.com Staff
10 Jun, 2008
New York City
Stocks in Hong Kong and Shanghai plunged after the central bank increased cash deposit requirements for banks. The surprise decision caught investors on the wrong footing. Banks, energy and mobile telecom stocks fell. In Shanghai trading CSI 300 Index plunged 8.11% or 282.94 at 3,206.56. In Hong Kong trading Hang Seng declined 4.21% or 1,026.66 at 23,375.52. Yuan traded at a record high against dollar.
123jump.com Staff
10 Jun, 2008
New York City
Stocks in Mumbai trading fell 1.2% after inflation worries dominated trading. Sensex dropped 1.2% and has lost 6% in the last five sessions. Rising crude oil prices and jittery investors in the U.S. and Europe have sold nearly $300 million of stocks in India in the last two weeks. The Sensex index now is at a three month low. Rising crude oil and food prices are stocking inflation. BHEL, the engineering company won an order to build a power plant in New Delhi.
123jump.com Staff
10 Jun, 2008
New York City
European stocks edged lower and rising crude oil prices and a rise in wholesale price index in Germany. Price of goods at wholesale level surged 8.1% in May a record gain since February 1982. EU 27 nations registered a trade surplus with US of 80 billion euros in goods and service surplus increased to 11 billion euros. The dollar rose against euro as the prospect of interest rate hike and currency market intervention intensified.
123jump.com Staff
10 Jun, 2008
New York City
U.S. stocks edged lower as the Fed Chairman Bernanke talked of fighting inflation. Investors see a possible rise in interest rate if food and energy prices remain high. Stocks in resources, fertilizer and energy sectors fell. Banks and financial sector stocks declined led by a drop in Lehman and Morgan Stanley. Australian currency dropped sharply on the worries that the U.S. may intervene in the currency market to protect the dollar. Japan, India and Australian market indexes closed lower.
123jump.com Staff
09 Jun, 2008
New York City
The U.S. market indexes closed higher after an index of pendig home sales rose in April. The unexpected rise in the index lifted broader market averages. Lehman Brothers priced its $6 billion offering at a 13% discount and reported its quarterly loss of $2.8 billion. McDonalds reported same store sales surged on higher sales in Europe and Asia. European markers closed mixed but markets in Asia closed lower. Apple fell after it expects lower share of monthly subscription revenue.
123jump.com Staff
09 Jun, 2008
New York City
Stocks in Japan and Asia fell tracking the losses in Friday trading in the U.S. Coincidence Index, a measure of current economic activity in Japan fell but an index of leading indicators showed a gain. Economy in Japan has been facing rising food and energy prices and stagnant wages. Resona Holdings led decliners in the Nikkei 225 index shares with a fall of 5.2% followed by losses of 5% in JFE Holdings and in Nomura Holdings, in Tokyo Electron of 4.8%, and Sumitomo Heavy Industries of 4.6%.
123jump.com Staff
09 Jun, 2008
New York City
European markets edged lower in the region but market indexes in Germany and France closed higher. German export in April rose 14% and imports increased 11.7% in month as the robust demand from the Middle East and rising crude oil prices. Among the DAX 30 index stocks, Volkswagen led the gainers with a rise of 2.6% and MAN led the decliners with a fall of 4% on a downgrade from a broker.
123jump.com Staff
09 Jun, 2008
New York City
UK stocks fell after the release of May producer price index. The index in May surged 8.9% after rising at 7.6% rate in April. Rising input costs forced several manufacturers to raise prices in the domestic market. In addition a private report on home prices indicated that home owners may have to wait till the year 2017 before home prices will recover in the UK. Of the FTSE 100 index stocks, 71 declined and 29 increased.
123jump.com Staff
09 Jun, 2008
New York City
Stocks in India fell on a sharp rise in crude oil prices. Israel threatened to attack Iran and lifting a specter of crude oil price as high as $200 a barrel in the near future. India imports nearly 70% of its crude oil needs and rising prices only stoke inflation that is running at a four-year high. Reliance Communication and the South African wireless telecom, MTN are expected to announce swap ratio of stocks.
123jump.com Staff
09 Jun, 2008
New York City
U.S. stocks edged higher in the morning despite a large loss from Lehman Brothers. Lehman also raised $6 billion through common and preferred stocks offering at a discount to its closing price on Friday. CIT, received $3 billion in cash investment from Goldman Sachs. Tech stocks fell but resource and energy stocks rose in New York. Asian markets closed lower and European markets inched lower.
123jump.com Staff
09 Jun, 2008
New York City
European market recovered in the morning trading but lost ground after the release of loss at Lehman Brothers. The U.S. banker reported a loss of $2.8 billion and raised $6 billion at $28 per share price, a discount of 13% from Friday closing price. European banks and insurance companies fell.
123jump.com Staff
06 Jun, 2008
New York City
Yuan rose to a record high against the U.S. dollar. Yuan rose to 6.923 to a dollar. The chinese currency gaied 5.5% so far this year after rising 6.9% in 2007. Rising crude oil price lifted stocks in the energy sector and dragged airlines stocks lower. China''s fiscal revenue rose 29.4% from the year ago and corporate income tax revenue declined 12%.
123jump.com Staff
06 Jun, 2008
New York City
Inflation fears hovered on the trading sentiment as the latest read on the inflation showed a surge to 8.4%. The RBI Governor Reddy hinted that a higher bank reserves may be requied to curb lending. Recent rise in fuel prices are only going to add to the inflation as 14% of the conumer price index consist of fuel. Widespread consumer protests were seen in Kolkatta and Hyderabad. The Sensex index fell 1.3% or 197.54 to 15,572.18 and CNX Nifty dropped 1.1% to 4,627.
123jump.com Staff
06 Jun, 2008
New York City
Japan stock averages rose after a weakening yen spurred exporters and steel makers rose after the U.S. steel maker Nucor said its earnings will be higher than the previous estimate. In Tokyo trading Nikkei 225 rose 1% or 148.32 at 14,489.44, rising 1.1% for the week, and the broader Topix Index increased 0.3% to 1,428.11.
123jump.com Staff
06 Jun, 2008
New York City
The indexes S&P 500, Dow and Nasdaq dropped 3% on unemployment report, record surge in oil and gold prices and worries of economic slow-down. WaMu Inc led the decliners in the S&P 500 index with a loss of 12.5% followed by losses in MGIC Investment Corp of 11.3%, in Ambac Financial of 10.3% and in Pulte Homes of 10%. AIG led the decliners in the Dow Jones Index with a loss of 6.8% followed by losses in American Express of 5.8%. Of the S&P 500 stocks, 286 lost more than 3%.
