123jump.com Staff
01 Aug, 2007
New York City
Sensex led the declining markets in Asia with loss of 615 points of 3.96%. Auto, techs, banks, and real estate stocks led the decliners with a loss of between 7% and 10%. Among Sensex stocks, ACC suffered led with a loss of 10%. Bajaj sales in July fell 7% but Maruti sales increased 18%. Bank of India dropped 10%. Mall developers, Orbit and Indiabulls, plunged 10%. Daily turnover reached record for the year. Reliance Industries is in final 10 to drill in Australia.
Elena
01 Aug, 2007
New York City
Wall Street opened flat, as investors weighed up a new hit to the credit markets and some strong earnings reports. On Tuesday worries about home loan defaults renewed when American Home Mortgage Investment reported troubles with its credit lines. Bear Stearns built on these concerns Wednesday as it is likely to face losses in July in its Asset-Backed Securities Fund after closing other two hedge funds recently.
Elena
01 Aug, 2007
New York City
U.S. stock futures reversed from steeper lows early Wednesday but continued indicating weak opening. The troubled credit market was in the spotlight again, alongside with funds exposed to that market and lending banks. Australia''s Macquarie Bank said that one of its funds had a monthly loss of 25% and didn''t have direct exposure to the U.S. subprime market. Bear Stearns Asset-Backed Securities Fund expects losses in July.
123jump.com Staff
01 Aug, 2007
New York City
European markets trade sharply lower ahead of New York opening and in the wake of sharp correction in Asian markets. Markets in the region, except Swiss market, are trading lower by 2% at mid-day trading. Deutsche Bank reported higher earnings bucking the trend of lower bank earnings in Japan. Rising sales at BMW failed to increase earnings. Cadbury Schweppes reported shaprly lower earnings melting the stock 7%. Mortgage bank HBOS earnings profit rose but offered weak outlook.
Elena
01 Aug, 2007
New York City
Murdoch added one of the great trophies of U.S. journalism to his global media empire in a deal valued at $5 billion. Bancroft family members and trustees, representing 37% of the company''s shareholder vote, agreed to support the deal. Another 29% of the vote is held by public shareholders, who are very likely to support Murdoch. The combined percentage will be enough to guarantee passing of the deal.
123jump.com Staff
01 Aug, 2007
New York City
Losses in banking sector in Tokyo trading left Nikkei 225 2.2% lower at the close. The other Asian markets suffered more. Taiwan, India, and Korea dropped 4% on the subprime worries. The Macquarie Bank in Australia plunged 10% dragging the Australian market down 3.2%. Mizuho Group in Tokyo declined 9% on 49% decline in earnings. Mitsubishi UFJ Group fell 4.6% on 31% decline in income.
123jump.com Staff
31 Jul, 2007
New York City
New York averages slid in the last hour of trading. Market averages opened higher in the morning and quickly jumped to triple digit gain lifting averages in Europe and South America. In the afternoon tradning worries related to housing marekt resurfaced and investors turned cautious led by weak stocks in the financial sector. European markets closed at their peak before the afternoon sell-off in New York. General Motors and Sun Microsystems swung to profit.
Elena
31 Jul, 2007
New York City
European stock markets rebounded from recent weakness to post their best one-day gains since the middle of March. Stocks were led higher by strong financial sector, as positive earnings and deal news managed to offset continued credit-markets concerns. Airlines also stood out among gainers. Ryanair jumped 11.6% and EasyJet climbed 12.9%. The U.K. surged 2.5% at 6,360.10, France jumped 1.9%, and Germany climbed 1.7%.
123jump.com Staff
31 Jul, 2007
New York City
Sensex jumped above 15,500 on strong earnigs from several companies. Sensex jumped 12% in July. Reserve Bank of India raised its capital reserve ratio for banks to 7% from 6.5% to contain inflation. Market focused on earnings results and ignored the news in the early morning trading. Reliance communication earnings surged 77% on lower tariff. Bhel reported lower earnings but showed increase in order book.
Elena
31 Jul, 2007
New York City
U.S. market averages traded off earlier highs as investor cautiousness led to choppy trading. Better-than-forecast earnings from Dow component General Motors, Sun Micro and positive inflation data have been helping market to continue recovery. Other gainers on the Dow included, Altria Group, up 3.6%, Verizon, up 3%, Caterpillar and Alcoa, each rising more than 1.3%. Tobacco, utilities and real estate stocks posted strength.
Elena
31 Jul, 2007
New York City
Wall Street rallied at opening Tuesday, benefiting from stronger-than-forecast earnings from Sun Microsystems and Dow component General Motors, as well as news of tame inflation in June. The core personal consumption price index rose 1.9%, marking the lowest inflation in three years. However, June personal spending disappointed a little, showing a weaker-than-expected increase of 0.1%. The Dow Jones industrial average gained more than 100 points.
Elena
31 Jul, 2007
New York City
U.S. stock futures pointed to a second consecutive session of gains Tuesday, boosted by optimism over corporate profits after General Motors and Sun Microsystems released better-than-expected quarterly earnings. GM rose 6.4% on 27% adjusted profit rise in Q2, helped by overseas sales. Sun Microsystems rallied 10% after the company swung to profit of $329 million, due to reduced operating expenses.
123jump.com Staff
31 Jul, 2007
New York City
European markets surged at half-time tracking the postive sentiment in New York close. Germant and UK led the market averages across the region. Top eleven markets jumped across the region. German unemployment fell more than expected. GlaxoSmithKline jumped 3% after U.S. FDA approved its drug for sale. Copper price and mining stocks are trading higher in London trading. Economic reports from Germany indicate that second quarter growth may match that in the first quarter.
123jump.com Staff
31 Jul, 2007
New York City
Nikkei edged a fraction lower but for the month declined 5%. Unemployment in June declined to 3.7% from 3.8% in May. Investors shifted their focus to earnings from the volatility in the global markets. Nikon surged 5% and reprted net revenue gain of 29% after the close. Olympus surged 6% after reporting 147% rise in earnings. Mitsubishi Corp jumped 5% after the revenue increased 12% and earnings declined 18%.
Elena
31 Jul, 2007
New York City
The automotive giant posted Q2 increase to $891 million, or $1.56 per share, reversing from a loss of $3.4 billion, or $5.98 a share a year ago. However, company
