123jump.com Staff
15 May, 2008
New York City
Sony estimated operating profit in the current fiscal year to be at 450 billion yen, 20% higher than a year ago. The better than expected forecast lifted sentiment in trading. Nikkei 225 index increased 0.9% or 133.2 to 14,251. Separately, private sector machinery orders received in March fell 8%. Steel prices paid by Japanese automakers may reach 100,000 yen per ton this year. Sony and Nippon Steel led the gaiers in the Nikkei 225 index and Ebara and Shimizu led the decliners in the index.
123jump.com Staff
15 May, 2008
New York City
European nations registered 0.7% growth in the first quarter after growing at 0.5% in the fourth quarter of 2007. Sustained exports to the Middle East and Asian nations have helped companies in the region despite a sharp rise in energy prices. Reflecting a similar demand from Asian nations, Baltic Dry Index retraced its 50% loss from the peak in November of 2007 in the last three months. Ocean freight rates for commodities are now priced at a record high seen in the fourth quarter of last year.
123jump.com Staff
15 May, 2008
New York City
Tech and energy stocks advacned in the session. Cisco, Intel, Yahoo, Apple, Google and Research in Motion closed higher and lifted Nasdaq up 1.4%. Energy stocks gained as well, after crude traded at elevated level. Oil drillers, explorers and services providers closed higher. Metals and mining companies gained on the weakness in dollar and sustained demands from China and other Asian nations.
123jump.com Staff
15 May, 2008
New York City
Tech stocks rally lifted broader market indexes. Nasdaq index gained 1.2% in the late afternoon on a steady rise in Apple, Research in Motion, Intel, Cisco and Google. Carl Ichan and Paulson & Company acquire a stake in Yahoo hoping to elect board that favors a deal with Microsoft. Retailers also rallied after JC Penney reported lower than expected fall in earnings. Barclays reported a large loss related to credit market assets.
123jump.com Staff
15 May, 2008
New York City
Cadbury indicated that profit margin will be 1.5% higher than a year ago and BT Group reported fourth quarter sales increased 2.5%. SABMiller second half profit rose 24% to $1.07 billion and for the year profit rose $2.02 billion. However, Barclays reported a loss of
123jump.com Staff
15 May, 2008
New York City
U.S. stocks opened modestly higher. Barclays in its interim report suggested that the first quarter earnings will be lower than in the quarter a year ago and took a charge of
123jump.com Staff
15 May, 2008
New York City
CNET Networks, Inc agreed to be acquired by CBS at $11.50 per share or $1.8 billion. The technology and tech news publisher had regained its footing after the tech bubble in the late nineties. In the year 2007 the company had reported revenue of $406 million and earnings of $177 million. CBS locked in a competitive struggle with News Corp has been acquiring Internet properties to increase its audience reach.
123jump.com Staff
14 May, 2008
New York City
Stocks in Australia rose after BHP Billiton surged 6% to a record high on a speculation that Chinalco may take a stake in the company. The rampant speculation lifted stocks of other mining companies. ABC Learnings addded 5.4% after the government offered to pay more for childcare to families with income of less than $150,000. Woodside Petroleum completed its acquistion of North West shelf interest.
123jump.com Staff
14 May, 2008
New York City
European markets edgged higher after a wave of earnings from Vivendi, ArcelorMittal, ING, Societe Generale, EADS and ThyssenKrupp. ArcelorMittal earnings rose 5% to $2.4 billion and ThyssenKrupp profit jumped 106% to 502 million euros. ThyssenKrupp revenue rose 1% to 13.2 billion and ArcelorMittal revenue increased 22% to $30 billion. Steel prices are expected to rise in the second half of the year as Arcelor raised prices and ThyssenKrupp hinted of price increases.
123jump.com Staff
14 May, 2008
New York City
U.S. stocks rose at close but lost most of their gains by the end of the day. Tech stocks declined in afternoon after Nasdaq index rose nearly 1.4% by mid-day. Stocks rallied after a benign inflation report in the morning and Freddie Mac gained market share and reported smaller than anticipated loss. Home builders advanced. In the regional trading, Mexico gained more than 1% and European markets edged higher. Inflation indexes in China, India and UK gained in the latest read.
123jump.com Staff
14 May, 2008
New York City
Stocks in Japan traded in positive territory after NTT and Astellas Pharmacies increase dividends and share buyback. In Tokyo trading Nikkei 225 rose 1.18% or 164.82 at 14,118.55, and the broader Topix Index increased 1% or 12.99 at 1,373.04. The Bank of Japan reported that the Domestic Corporate Goods Price Index rose 3.7% from a year ago at 107.3 after adding 3.9% in March.
123jump.com Staff
14 May, 2008
New York City
China reported a raft of economic data suggesting that the economy continues to grow at a rapid clip. April industrial output rose at 15.7% and international trade rose at 24% in the first four months of the year. Despite a rise in wholesale inflation at 10.3%, retail sales surged at 22% in April from a year ago. However a sharp rise in food and energy costs is hobbling the consumer. In stock trading, Hong Kong Exchanges & Clearing fell after it reported earnings rise of 79%.
123jump.com Staff
14 May, 2008
New York City
The Bank of England inflation report suggested that pressures on inflation are rising as credit market remains tight. Separately the governor of BOE said that inflation may rise above 3% for several quarters. Shareholders of Royal Bank of Scotland approved
123jump.com Staff
14 May, 2008
New York City
Mumbai stocks rose after a rise in IT and metal stocks. Rupee fell to a 13-month low to 42.44 against one dollar as rising crude oil import worries investors. Software exporters gained on rupee weakness. Metal and steel companies added in the trading after the government said it is considering industry request to review duties on metal exports. Cement companies fell on the worries that recent price weakness and rising new capacity will hurt the industry margins.
123jump.com Staff
14 May, 2008
New York City
U.S. stocks advanced in the morning trading as inflation measure showed a smaller than expected rise in April. Monthly inflation rose at 0.2% according to the government. However most consumers feel the pain of rising food and energy costs. Deere & Company fell after earnings rose 22%. Whole Foods dropped 10% after quarterly earnings declined. Markets in Europe, Asia and Mexico traded higher.
