123jump.com Staff
09 Jul, 2008
New York City
Banks and mortgage lenders remain the focus of nervous investors. Fannie Mae dropped after it sold $3 billion offering at higher yield than its previous offering a month ago. Fannie and Freddie dropped more than 5%. Alcoa second quarter revenue dropped 6% to $7.6 billion and net income declined 24% to $546 million. Aluminum, zinc and copper fall in the morning trading.
123jump.com Staff
08 Jul, 2008
New York City
UK stocks fell as credit market worries linger. Business survey predict business recession in the near term. The FTSE 100 index is down 20% from its peak in the last one year of trading. The stock of LSE led the decliners in FTSE 100 index after an analyst estimated a revenue decline of 4% ahead of annual meeting tomorrow. Standard Chartered Bank dropped 2.2%, HBOS fell 1.6% and Barclays declined 1%. European markets declined led by a fall in banks across the region.
123jump.com Staff
08 Jul, 2008
New York City
Financials, home builders and real estate trust stocks rose sharply after the regulator statement on Fannie Mae and Freddie Mac. Energy and mining stocks declined as crude oil, natural gas and precious and base metal prices fell. Airlines, freight transportation and railroads rallied on falling oil. European markets closed lower on the continued worries related to the health of U.S. banks. Copper, corn, gasoline and crude oil futures drope between 3% and 4%.
123jump.com Staff
07 Jul, 2008
New York City
Stocks in UK fell despite a government report that showed UK manufacturing unexpectedly fell in the three months to May as machinery and equipment industries lost ground. In addition, a report released today by KPMG and the Recruitment and Employment Confederation indicated that permanent staff placements fell the most in five years.
123jump.com Staff
08 Jul, 2008
New York City
Hong Kong''s stock market plummeted as U.S. credit concerns and regional declines affected investor sentiment. Most Asian markets also lost ground Tuesday. Aluminum Corp. lost 5.6% on reports that it may see lower output at two of its mainland plants. China Petroleum & Chemical Corp. fell 2.7% despite lower crude prices, while CNOOC lost 3.4%. In export-related stocks, Foxconn International, handset manufacture, was downgraded and shed 10.3%.
123jump.com Staff
08 Jul, 2008
New York City
Japan market indexes traded in the negative territory led by financial stocks on resurgent credit worries after Lehman Brothers noted that the new accounting rule in the U.S. may force Freddie Mac and Fannie Mae to raise an additional $75 billion to meet capital requirements. Sumitomo Realty led decliners in the Nikkei 225 with a drop of 6.21% followed by losses in Mizuho Trust & Banking and Nissan Chemical Industries.
123jump.com Staff
08 Jul, 2008
New York City
Stocks in India declined tracking losses in Asia and other global markets. Communist and other regional parties withdrew their support to the ruling coalition led by Congress Party. The Congress Party has sought and secured support from a regional party and is likely to complete its full term. Tata Motors dropped 4% and has falled nearly 60% from its peak seven months ago. Reliance Industries fell below 2,000 rupees.
123jump.com Staff
08 Jul, 2008
New York City
U.S. stocks struggle as investors face higher write-offs from banks and financial brokerages. Fannie Mae and Freddie Mac were the focus of investors for the second day, after the top regulator said that it will not seek the two lenders to seek additional capital on accounting change. Office Depot plunged 32% after same store sales fell 10% in the second quarter. VMWare dropped 26% after it lowered its sales outlook and replaced its chief executive. Goodrich Petroleum commenced offering.
123jump.com Staff
07 Jul, 2008
New York City
German healthcare concern Fresenius agreed to pay $23 a share for the US injectable drug maker APP Pharmaceuticals. Fresenius will assume APP
123jump.com Staff
08 Jul, 2008
New York City
tU.S. stocks edge higher in the trading afer wholesale sales rise in May. Commodities prices fell for the second day with a sharp decline in crude oil, natural gas and base metal prices. The Federal Reserve chief Bernanke proposes to widen the Fed role and increase lending to financial brokerage firms. Fannie Mae and Freddie Mac may not have to seek additional capital according to the regulator that regulates two mortgage lenders. Asian markets fell sharply in the overnight trading.
123jump.com Staff
07 Jul, 2008
New York City
Financial stocks fell sharply after the talks of another capital needs at two mortgage agencies Fannie Mae and Freddie Mac. The new accounting rule may require more debt to be consodilated on the balance sheet and force two largest mortgage agencies to raise as much as $75 billion in new capital according to Lehman analyst. Banks and financial brokerage stocks dropped. Euorpean stocks closed higher but Asian stocks continue to struggle in the early morning trading in the region.
123jump.com Staff
07 Jul, 2008
New York City
U.S. stocks trade higher after crude oil prices slide lower, renewed interest from Microsoft to negotiate with Yahoo and talks of asset sale at General Motors. Three widely followed indexes rise between 0.7% and 1.2%. European markets at mid-day trade up 2%. Stocks in emerging markets rebound around the world, after two weeks of selling, led by a 2% rise in Brazil and Hong Kong. The generic drug maker, APP Pharmaceuticals soared 30% after it agreed to purshase from Fresenius SE of Europe.
123jump.com Staff
04 Jul, 2008
New York City
European stocks closed lower after crude oil traded at another record high and prospect more capital raising from European banks. Benchmark indexes in UK, France, Germany and Switzerland fell. Swedbank dropped 6% and Banco Santander lost 4%. Banks may need as much as $90 billion to meet their required capital reserves. UK stocks fell after a private equity fund decided not to proceed with investment in home builder Bradfod & Bingley.
123jump.com Staff
04 Jul, 2008
New York City
Stocks in Tokyo trading fell for the 12th day in a row. Persistent worries related to exports to the U.S., rising inflation and weak consumer sentiment drag market averages lower for the longest streak in five decades. For the week Nikkei 225 index dropped 2.3% and in the last twelve days the index declined 8.4%. Real estate stocks led the decliners. Tokai Carbon soared 12% and GS Yuasa rose 4.9%, led the gainers in the Nikkei 225 index.
123jump.com Staff
04 Jul, 2008
New York City
Stocks in Mumbai rebounded on the hopes that political settlement between and Congress and a regional party may avert government collapse. Controversial nuclear agreement between the US and India has caused a rift between the Congress and communist parties and added volatility to stock market. Sensex, today rebounded 2.8% or 360 to 13,454 at close despite a rise in the latest read on inflation.
