123jump.com Staff
23 Nov, 2007
New York City
BHP Billiton chief Marius Kloppers to meet China Iron and Steel Association officials in Beijing today. Qantas and Tiger Airways are sparring over the services to Alice Springs. Westpac severs ties with Virgin Money. Woodside Petroleum Ltd started A$12 billion ($11 billion) construction of Pluto liquefied natural gas project.
123jump.com Staff
26 Nov, 2007
New York City
ASX 200 index added 2.2% to close at 6, 471.40. Rams Home Loans shareholders approve sale of franchise network to Westpac Banking Corporation for $140 million. Rio Tinto surges on speculation that a rival bid from China may emerge. Zinifex Ltd announces record profit of $1.3 billion and that it has more than A$2.2 billion to make acquisitions. Australian dollar gained in international trading.
123jump.com Staff
29 Nov, 2007
New York City
U.S. stocks fell in the morning trading after a 2-day rally. The Department of Commerce revised third quarter GDP growth to 4.9% from 3.9%, fastest gain in four years. Oil jumped after one of the pipelines from Canada to the Midwest caught fire. Asian markets closed higher tracking the overnight rise in the U.S. stocks. European markets traded higher.
123jump.com Staff
29 Nov, 2007
New York City
Australian stocks edged higher after enthusiastic investors lifted stocks across Asia. ASX 200 index jumped 1.2% or 74.40 to close at 6,370 on the hopes that interest rates may be lowered in the U.S. at the next meeting of the Fed. Resource, banks, and retail stocks led the gainers. National Australian Bank announced that it may acquire Great Western Bancorp based in South Dakota. BlueScope Steel jumped 4% after it laid plans to restructure its China operations.
123jump.com Staff
29 Nov, 2007
New York City
Hong Kong stocks led the region with a sharp rise in Han Seng Index of 4.1% or 1,111.30 to 28,482.54. Property stocks rallied on the news speculation that the U.S. interest rate is likely to to be lowered in the next meeting in two weeks. Sino Land surged 9%, Hang Leung gained 8%, and Sung Hung Kai added 4.5% on the rate cut expectations. Hong Kong interest rates are tied to the rates in the U.S.
123jump.com Staff
29 Nov, 2007
New York City
E*Trade Financial Corp, widely known for its discount online trading service agreed to sell its portfolio of mortgage loans and securities to Citiadel Investment for $800 million. The bank and online broker will also sell 10-year notes of $1.75 billion to investment group yielding junk interest rate of 12.5%. The deal also removes the current chief executive in the company and grants a board seat to Citadel.
123jump.com Staff
29 Nov, 2007
New York City
Stocks in Japan rallied after comments from the U.S. Fed official reinforced a rate cut expectations at the next meeting on December 11. Rally in financial and export driven stocks lifted Nikkei 225 index higher by 2.4% to 15,513.74. Asian stocks rallied across the region led by a sharp rise in Hong Kong of 4.2% followed by increases of more than 2% in Singapore, Thailand, and in Taiwan.
123jump.com Staff
28 Nov, 2007
New York City
U.S. stocks rallied for the second day after Fed Vice Chairman comments reinforced the rate cut expectations. Finacials led the advance followed by a surge in consumer related and housing market driven stocks. Dow, S&P 500, and Nasdaq surged between 2% and 3%. Dollar rose aginst yen. Oil fell after a weekly inventory report. Gold fell for the second day in a row. Of the stocks in S&P 500 index nearly 90% advanced and 50% jumped more than 3%. Freddie Mac and CB Richard Ellis led the gainers.
123jump.com Staff
28 Nov, 2007
New York City
U.S. stocks rallied sharply in after the comments from the Fed Vice Chairman were interpreted as a possible rate cut in the next Fed meeting. Dow Jones, S&P 500, and Nasdaq jumped 1.5% by mid-morning trading. Finacial stocks led the rally. European markets closed higher by 3% across the region.
123jump.com Staff
28 Nov, 2007
New York City
Japanese financial markets have not been able to shake off the volatility emanating from the U.S. markets. The continuted worries related to the U.S. sub-prime losses and ongoing correction in the U.S. housing market have global markets on the edge. Third quarter U.S. home prices fell 4.5% sparking a new round of worries related to the health of the U.S. banks. Nikkei 225 index closed 0.5% lower to 15,153.78 in volatile trading.
123jump.com Staff
27 Nov, 2007
New York City
U.S. stocks retraced losses of the previous session after a cash infusion of $7.5 billion in Citigroup from Abu Dhabi Investment Authority. Banks, brokers, and financial services stocks rebounded. Home prices fell 4.5% according to an index tracked by S&P in the third quarter. European and Asian markets closed lower. Apparel retailers reported weaker than expected earnings. Oil, gold,and metals fell. Musharraf finally resigns as Pakistani chief of army under international pressure.
123jump.com Staff
27 Nov, 2007
New York City
Australian stocks declined after the banks and financial services stocks faced another wave of sell-off. ASX 200 index lost 0.6% to close at 6,432.70. The eleven month long fight by Healthscope to takeover Symbion entered into another phase. Healthscope acquired 10% stake in the company through a swap agreement from Goldman Sachs. Rio Tinto laid out plans to boost production of iron ore to 600 million tons.
123jump.com Staff
27 Nov, 2007
New York City
Sensex index in Mumbai trading fell in the afternoon on the weakness in the global markets. U.S. credit market jitters have destabilized world markets. The ongoing U.S. housing market correction has sent the stocks of banks in the U.S., Europe, and Japan lower. The Governor of Reserve Bank of India cautioned that Indian financial markets may be affected even if banks in India have little or no exposure to the U.S. sub-prime lending.
123jump.com Staff
27 Nov, 2007
New York City
U.S. stocks opened higher with Dow, S&P 500, and Nasdaq trading 0.7% higher. Citigroup stake sell of 4.9% to Abu Dhabi sparked a rally in banking and financial services companies. The news lifted stocks in Japan, Hong Kong, and across Europe. American Eagle reported lower than expected profit but Talbots declared losses. Home prices fell 4.5% in the third quarter from a year ago according to an index published by S&P.
123jump.com Staff
27 Nov, 2007
New York City
Citigroup seeks addtional funding in less than two weeks of raising $4 billion at nearly 2% higher than Treasury yield. The current investment of $7.5 billion from Abu Dhabi Investment Authority comes at a steep interest cost of 11% and conversion price in the year 2010 at a price near the current market price. Citigroup has lost nearly 45% of its value in the last 52-weeks of trading.
