123jump.com Staff
02 Apr, 2008
New York City
Financial stocks surged in Australia after a rally in the U.S. and European markets. Enthusiastic investors showed appetite for risk when Lehman and UBS offered to raise $19 billion. Macquarie Group surged 10% and National Australia Bank Ltd added 5.2% while Commonwealth Bank of Australia gained 4%. ANZ added 5% and Westpac was up 6.5%. Gindalbie Metals largest investor placed injunction on the sale of stock to cover margin call at a failed broker.
123jump.com Staff
01 Apr, 2008
New York City
Mine workers at BHP mine in Colombia return after a month long strike but it may take one month to reach normal production. The mine will lose nearly 20% of its production in the current fiscal year. Roc Oil Company''s share fell 14% today after disclosing that a well drilled in the area may fail to produce oil. Iron ore miner Midwest Corp blamed its operating loss in the fiscal 2007 year on costs incurred in defending a failed $900 million takeover bid by Murchison.
123jump.com Staff
02 Apr, 2008
New York City
Vehicle sales in March rose despite a rise in interest rate. Mahindra sales in March surged 20% and sales at Tata rose 6%. However, Bajaj sales of motorbikes fell 10% on stiff competition in the segment. Maruti earlier reported flat sales from a year ago. Tata Motors rose 1.5% and Mahindra gained 2.6%. Indiabull Securities fell to a new low today.
123jump.com Staff
02 Apr, 2008
New York City
The Fed Chairman Bernanke said that conditions for economy will improve later in the year. He added that the economy may not grow and may even shrink for the first half of this year. The remarks kept stock market in check in the morning trading. Weekly crude oil inventories rose but that of gasoline fell sharply. CarMax rose after reporting lower than expected decline in earnings. Best Buy edged higher after its net income dropped 3.4%.
123jump.com Staff
02 Apr, 2008
New York City
Stocks in Hong Kong surged after a steep rise in the U.S. indexes and an increase in European stock markets. Hang Seng Index retreated from a 4.6% increase in the morning to close up 3.20% or 734.97 at 23,872.43, and the China Enterprises Index rose 4.7% to 12,807.35. In Shanghai, CSI 300 fell 1% to 3.547.98. Investors in China continue to dump stocks. Net redemptions in investment funds in China fell by Rmb 17 billion.
123jump.com Staff
02 Apr, 2008
New York City
Japanese stocks surged after tracking gains in the U.S. and Europe. More than 70% of trading on Tokyo Stock Exchange originates with foreign investors. Nikkei 225 rose 4.21% or 532.95 to 13,189.36, and the broader Topix Index gained 1.5% or 17.5 at 1,230.49. Of the Nikkei 225 index shares 214 gained, 8 declined and 3 were unchanged. Shinko Securities led advancers in the Nikkei 225 index shares with a surge of 14%.
123jump.com Staff
01 Apr, 2008
New York City
Export from India in February rose 35% to $14 billion and imports gained 30% $18.5 billion lifting the traded deficit to $4.2 billion. The trade deficit in the first eleven months increased to $72.5 billion. Wholesale inflation, in the latest data, rose to 6.7%. Sensex index fell 0.11% or 17.8 to 15,626 and CNX Nifty gained 5 to 4,739.
123jump.com Staff
01 Apr, 2008
New York City
European markets rallied after $15 billion capital infusion plan from UBS lifted investor mood. UBS also said that its long time chairman has been replaced by its general counsel Peter Kurer. However, Deutsche Bank wrote down 2.5 billion of asset backed securities. Switzerland index led the region with a rise of 3.7% followed by more than 3% rise in Spain and France.
Stora Enso and Astra Zeneca jumped more than 7% after brokers lifted their ratings on the companies.
123jump.com Staff
01 Apr, 2008
New York City
U.S. stocks surged across market capitalization and industry sectors on rising optimism and investor appetite for risk. Gold and oil fell. Lehman Brothers raised its convetible preferred share offering to 4 million shares.UBS reported $12 billion in first quarter losses and proposed to raise $15 billion. Nasdaq surged 3.7% followed by a gain of 3.6% in S&P 500 and 3.2% in Dow Jones. Brazil, Mexico and European markets surged as well.
123jump.com Staff
01 Apr, 2008
New York City
Stocks in Hong Kong advanced tracking gains in international markets but stocks in Shanghai continue to fall. Shanghai stocks have suffered the most in the last five months of trading and retail investors are bearing most of the losses. Mainland investors are worried that Chinese government will not support the stock market. Fear of more declines is driving Shanghai stocks lower.
123jump.com Staff
01 Apr, 2008
New York City
Business confidence in Japan fell to a 4-year low as large and small manufacturers worry about the U.S. market for their products. Rising exports to Asia, Europe, and Middle East is helping businesses to cope with the expected decline in sales in the U.S. In Tokyo trading Nikkei 225 gained 1.04% or 130.88 to 12,656.42, and the broader Topix Index increased 1.5% or 17.53 to 1,230.49.
123jump.com Staff
31 Mar, 2008
New York City
European markets traded sideways after a surge in inflation, lower energy prices and higher metals prices in the region. Euro area inflation in March rose to 3.5%, a 15-year high. Banks fell in the region after Merrill Lynch lowered profit forecast for Swiss banks. Northern Rock hopes to repay loans to the Bank of England by 2011. Pernod Ricard agrees to buy Vin & Spirit from Swedish government for 5.3 billion euros. German stock index lost 18% in the first quarter.
123jump.com Staff
31 Mar, 2008
New York City
U.S. stocks edged higher after a sharp decline in energy and gold prices. USDA report showed that farmers planted more than expected level of soybeans and wheat and less than expected cotton and corn crops. Soybean fell in Chicago trading. Schering Plough and Merck declined sharply after a group of cardiologist said that the expensive drugs for cholesterol treatment are no better than generic drugs. Housing Secretary Jackson quits after a criminal probe investigating contract awards.
123jump.com Staff
31 Mar, 2008
New York City
Northern Rock unveiled a plan to repay the Bank of England by the year 2011 and shrink its balance sheet by more than half. Stocks in London trading recovered after a steady rise in copper and other metal prices lifted mining stocks. Friends Provident gained 3% after it rejected $7 billion takeover offer. Home prices fell 0.2% in March and for the year home sales volume is expected to decline.
123jump.com Staff
31 Mar, 2008
New York City
St George, raised its rate on variable home loans by 0.1% to 9.47%. The bank blamed a rise in interest to an increase in costs in the wholesale markets. Australian billionaire retailer and former Coles Group Ltd Chairman Solomon Lew today launch unsolicited $900 million takeover offer for Just Group Ltd. Sinosteel unveiled its formal offer for Midwest at $1.19 billion, lower than expected offer of $1.49 billion.
