123jump.com Staff
06 Jun, 2008
New York City
European stocks fell across the region as crude oil jumped 9% in London trading. The sustained imports from Asia and the U.S., falling dollar and the use of oil as a hedge and worries related to supply are contributing to the crude oil rise. Every member of the CAC-40 index in Paris fell and only of DAX 30 index stocks in Germany closed higher. Switzerland, Germany and France dropped more than 2%.
123jump.com Staff
06 Jun, 2008
New York City
UK and European stocks fell after May unemployment rose in the U.S. Crude oil surged 9% in London and New York trading on sustained imports from Asia and the U.S. Crude oil surged to a record high $137 in trading in London and New York. Energy stocks led FTSE 100 index stocks. Lloyds TSB Group said in regulatory filing yesterday that it will make a provision of
123jump.com Staff
06 Jun, 2008
New York City
U.S. stocks fell sharply after the unemployment in May rose to 5.5% from 5% in April and from 4.5% in May of 2007. The monthly payrolls declined for the second month in a row and sparked the fears of economic slow down. Market indexes, Dow, Nasdaq and S&P 500 fell more than 1.7%. National Semiconductor gained after earnings rose 8% and earnings per share increased to 28 cents. Crude oil traded 4% higher on a sustained rise in demand.
123jump.com Staff
06 Jun, 2008
New York City
U.S. stocks traded lower in the morning trading as oil surged more than 4% in London and in New York trading. Chevron oil operations in Nigeria are looking to strike if higher pay demands are not met. Weak dollar also contributed to the rise in oil price. And, a steady rise in demand from the U.S. and accelerating demand from Asia has kept crude oil demand higher in the first five months of the year.
123jump.com Staff
05 Jun, 2008
New York City
U.S. stocks surged after same store sales data showed healthy gains at large retailers. Wal-Mart and Costco reported higher than expected sales gain in May lifting stocks across various industries. A sharp rise in crude oil price of more than $5 per barrel lifted stocks energy complex companies. The ECB and Bank of England left interest rates unchanged and issued tougher outlook on inflation. Brazil, Argentina and India surged more than 2.5%.
123jump.com Staff
05 Jun, 2008
New York City
Stocks in Hong Kong rose as a retreat in oil prices relieved pressures on oil refiners. Recovering telecommunications stocks also positively impacted investor sentiment. However, price controls for coal producers affected mainland stocks. In Hong Kong trading Hang Seng Index rose 0.55% or 132.04 at 24,255.29 and in Shanghai CSI 300 Index fell 0.98% or 34.78 at 3,512.14.
123jump.com Staff
05 Jun, 2008
New York City
Japan stock indexes declined after Lehman Brothers cuts its rating for the financial services sector in the wake of rising credit costs. Falling crude oil and metal prices widened losses. In Tokyo trading Nikkei 225 fell 0.65% or 94.45 to 14,341.12, and the broader Topix Index dropped 0.4% or 6.02 at 1,424.45.
123jump.com Staff
05 Jun, 2008
New York City
Indian shares recovered after losses of three days in a row of selling. The 30-share BSE Sensex gained 1.6% or 254.93 15,769.72. On the National Stocks Exchange, the S&P CNX Nifty surged 2% or 91.35 to 4,676.95. Infosys jumped 5.9% to 1,979.70 rupees on the media reports that the firm is looking for acquisitions in Europe. Reliance Communications rose 1.3% to 547.15 rupees on news reports that the firm and South Africa''s MTN.
123jump.com Staff
05 Jun, 2008
New York City
Jean Trichet said on Thursday the ECB may raise interest rates next month to combat inflation. German manufacturing orders in April declined 1.8% from a month earlier, but orders during the first four months rose 15%. French unemployment rate dropped to its lowest level in a decade, reaching 7.5% in the first quarter. The CAC 40 share index fell 0.1% and the DAX 30-share index declined 0.4%. Credit Agricole prices its stock at a discount. Credit Agricole prices its offering of 6 billion euros.
123jump.com Staff
05 Jun, 2008
New York City
The Bank of England and the European Central Bank left the rates unchanged at 5% and 4% respectively. The rising inflation in the region has left central bankers worried. Unlike the Fed in the U.S., central bankers in Europe are more focused on inflation. Separately, retailer Wm Morrison reported 7% rise in sales in the first quarter but home prices fell in May. Stocks in London trading rose with the FTSE 100 index gaining 0.4%.
123jump.com Staff
05 Jun, 2008
New York City
Verizon Wireless agreed to acquire Alltel Corporation, a rural telecom operator with 13 million customers. Verizon will pay $5.9 billion in cash and $22.2 billion of estimated debt. TPG and Goldman Sachs controlled fund have agreed to sell the company that they purchased for $24.2 billion less than thirteen months ago with only $4 billion in equity.
123jump.com Staff
04 Jun, 2008
New York City
Hong stocks fell after investors worried that recent proposal to merge telecom companies may reduce earnings in the short term. Analysts wonder that the three-way deal among China Unicom, China Netcom and China Telecom may reduce earnings on higher operating costs in the short term. The Hang Seng Index fell 1.04% or 252.51 to 24,123.25 and in Shanghai trading CSI 300 Index fell 1.86% or 67.20 to 3,546.92.
123jump.com Staff
04 Jun, 2008
New York City
Stocks in Tokyo gained ground after yen fell and metals and crude oil prices fell. Nikkei 225 rose 1.59% or 226.4 at 14,435.57, while the broader Topix Index increased 1.6% or 23.03 at 1.430.47. Capital spending declined for the fourth straight quarter by 5.3% in the three months ending March. The decline was smaller than estimated by economists.
123jump.com Staff
04 Jun, 2008
New York City
U.S. stocks traded sideways after Moody removed the top bond insurance rating from MBIA and Ambac Financial. Ambac plunged 17% and MBIA lost 16%. Two companies have lost more than 70% of their market value in the last one year of trading. Crude oil futures declined as India joined Malaysia and Indonesia and passed on higher fuel prices to consumers. Brazil fell for the second day more than 1.5% in Latin markets trading. India lost 2.8%.
123jump.com Staff
04 Jun, 2008
New York City
Stocks in UK dropped after a business activity index showed a decline in activities in May. Businesses are battling tight credit conditions and low consumer confidence. Luxury home prices are expected to fall 5% by the end of the year. Kingfisher, home renovation retailer reported first quarter earnings jumped 9% to
