123jump.com Staff
30 Jan, 2008
New York City
Stocks fell in Hong Kong on profit taking ahead of the U.S. Federal Reserve decision on interest rates today and as chairman of Henderson Land Development Lee Shau-kee lowered his forecast for the rise in Hang Seng by 22%. Chairman''s comments are widely followed by investors.
In Hong Kong trading Hang Seng Index dropped 2.6% or 638.11 at 23,653.69, while the China Enterprises index of H shares declined 4.7% or 623.77 to 12,755.41.
123jump.com Staff
30 Jan, 2008
New York City
Stocks in Asia and Japan faltered after the worries related to weakening subprime credit markets in the U.S. resurfaced. IMF lowered the global economic growth forecast for 2008. December industrial production index rose, but at a lower rate then estimated. METI also added that production in January and February is likely to trend lower, sparking worries that expected recovery from the housing market slump may take longer than estimated.
123jump.com Staff
29 Jan, 2008
New York City
UK stocks edged higher on rate cut speculation in the U.S. and hopes that CVRD in Brazil will offer a bid for mining company Xstrata. FTSE 100 index gained 1.66% or 96.30 to 5,885.20. Miners and financials lifted stocks in the U.K. BSkyB was ordered to lower its stake to 7.5% from 17.9% in the broadcasting company ITV. TUI Travel raised its annual savings forecast to 150 million pounds. Mitchells & Butlers reported 274 million pounds loss in hedging position related a property unit.
123jump.com Staff
29 Jan, 2008
New York City
Industrials, mining, and financial stocks led rally across Europe and lifted stocks in Paris by 1.9%, in London and Zurich by 1.6%, and in Frankfurt by 1.1%. Broker recommendations lifted stocks of AP Moeller- Maersk, Siemens, and MAN. Luxottica q4 sales increased 7.1% on retailer Oakley acquisition. IMF lowered its 2008 economic growth forecast for Europe by 0.5% to 1.6%. Societe Generale rises on BNP bid speculation and Sarkozy assertion that executives should face consequencies for losses.
123jump.com Staff
29 Jan, 2008
New York City
U.S. stocks edged higher for the second day in a row in anticipation of additional rate cut tomorrow. The U.S. House of Representatives passed $146 billion economic stimulus package and sent to senators to review it. 3M, Valero, and Zimmer Holdings rise on earnings. EMC and VMware decline on earnings. European markets closed higher led by miners, financials, and tech companies. Countrywide Financial reported a loss of 79 cents per share. Fourth quarter profit at Yahoo dropped 23%.
123jump.com Staff
29 Jan, 2008
New York City
U.S. stocks traded in a narrow range ahead of the rate decision from the Fed. IMF lowered its outlook for global grwoth forecast on the expected economic slowdown in Japan, U.S., and select European nations. U.S. durable goods orders rose 5.2% in December. Countrywide reported a loss of 79 cents per share, sharply lower than its estimate of a profit between 25 cents and 75 cents. American Express earnings declined 9.9% on higher loan loss reserves.
123jump.com Staff
29 Jan, 2008
New York City
The International Monetary Fund lowered its global economic growth target in 2008 to 4.1% from 4.4% estimated earlier in October of last year. IMF estimated that world economies rose at 4.9% in 2007. The IMF estimate may prove to be too rosy if the U.S. economy slows down at a faster pace as unemployment rate picks up. U.S. economic growth is lowered to 1.5% from 2.2%.
123jump.com Staff
29 Jan, 2008
New York City
Stocks in Mumbai traded lower after the Reserve Bank of India left the rates unchaged. The Sensex Index 30-share BSE Sensex declined 0.34% or 60.84 at 18,091.94. The S&P CNX Nifty slid 16.5% or 1,076.30. Property and banks stocks had advanced ahead of the rate cut expectations. The RBI issued positive economic assessment and said that the impact of the U.S. recession on India will be limited.
123jump.com Staff
29 Jan, 2008
New York City
Stocks in Hong Kong edged higher after losing 16% in January. Hang Seng index jumped 238.20 or 1.0% to close at 24,291.80 and China Enterprises index added 0.5% to 13,379.18. Property, banking, and energy related companies rallied. Market built expectations of another rate cut at the end of the U.S. Fed meeting tomorrow. Sun Hung Kai added 4% and Cheung Kong Ltd increased 2%. China Oilfield projected 95% rise in 2007 earnings and China Life expects earnings to rise 50%.
123jump.com Staff
29 Jan, 2008
New York City
Tokyo stocks rallied on the back of higher closing in the U.S. stocks and firmer trading this morning in Europe. Expectations of an additonal U.S. rate cut were building in Tokyo. Separately, India left its rates unchanged. Statistics office in Japan released December monthly household income and expenditure data. Monthly income fell 1.8% and expenditures rose 2.2% in real terms. December unemployment fell to 3.8%.
123jump.com Staff
28 Jan, 2008
New York City
Global market worries dragged Sensex lower. The Bombay Stock Exchange benchmark index fell on Monday with a loss of 1.1% or 208.88 to 18,152.78. Larsen & Toubro reported third quarter earnings rise of 41% from a year ago to 481 crore rupees on 54% rise in sales. L&T fell 1.6% to 3,830 rupees.
123jump.com Staff
28 Jan, 2008
New York City
European markets were weak on the first day of trading. German stocks fell on the contiued jitters related to the direction of interest rates. MAN and Adidas fell after UBS lowered its ratings. Fraport fell 5% on the worries that Green Party win in election may hamper its expansion plans. Societe Generale dropped 4% to a three year low after citigroup rated the stock sell. Casino Guichard fell 1.6% after it agreed to raise its stake in Dutch retalier Super De Boar. Lafarge lost 5%.
123jump.com Staff
28 Jan, 2008
New York City
UK stocks fell 1.4% or 80.10 to 5,788.90 after UK home prices rose at the slowest pace in eighteen months. The price increase declined for the fourth month in a row hurting the trading sentiment in stocks. UK households spent an average of
123jump.com Staff
28 Jan, 2008
New York City
Alliance Data deal with the entities controlled by Blackstone appears to be in jepordy. Allinace had agreed to a deal in May 2007 for a price of $81.75 per share in cash, since then the stock has been cut in half on the weakness in credit market. The stock plunged today after blackstone cited the regulatory hurdle which Alliance believes that the suitor can meet. Alliance board is looking for legal measures to complete the deal.
123jump.com Staff
28 Jan, 2008
New York City
U.S. stocks traded higher after three hours of trading. CME Group and Nymex are in preliminary merger talks valuing Nymex at 11% premium from the closing Friday price. Alliance Data System said that its merger agreement with Blackstone controlled entity may not be completed. Allinace disagrees with the Blackstone assertion of regultory demands to not complete the merger. New home sales in December fell 41% from a year ago and 26.4% for 2007.
