123jump.com Staff
26 Aug, 2008
New York City
U.S. stocks edged higher as crude oil and natural gas futures rose and industrial metals fell but precious metals closed higher. New home sales in July fell compared to a year ago as tight lending conditions and falling confidence in the economy kept buyers away. The U.S. dollar rose against most major currencies. Stocks and ruble in Russia fell sharply as stand-off with NATO continues as Russia declared two regions independent from Georgia. German business and consumer confidence declines.
123jump.com Staff
26 Aug, 2008
New York City
Stocks in London fell marginally and tracked the volatility in crude oil futures and metals markets. A weak reading on German business and consumer confidence weighed on the trading in the European region. Home mortgage approval in UK in July fell 65% as lenders kept tighter control. Home equity loans hovered around 50% of total loans issued. Mortgage lending in the month rose
123jump.com Staff
26 Aug, 2008
New York City
Stocks in Mumbai edged higher despite a weakness in global and regional trading. ONGC Videsh is preparing a bid to acquire Imperial Oil for
123jump.com Staff
26 Aug, 2008
New York City
Stocks in Hong Kong edged lower but in Shanghai dropped 2.9% and dragged the CSI 300 index to a new low in the last fifteen months. Stocks struggled as companies battle a decline in revenue and earnings growth and tighter lending conditions. Chinalco received Australian government approval to increase its stake to 11% from 9%.
123jump.com Staff
26 Aug, 2008
New York City
Stock market indexes in Japan fell as more evidence emerged of a global economic slowdown. Investors sought stocks linked to the domestic economy and sold stocks linked to exports to the U.S. and Europe. The U.S. dollar also strengthened against yen. Construction sector in Japan continue to take more casualties as more companies face tighter lending standards. Sebon Corp filed for bankruptcy protection with 62 billion yen in liabilities.
123jump.com Staff
26 Aug, 2008
New York City
U.S. stocks edge higher after dollar gained in the international trading and new home sales rose. The home sales rose 2.4% to 515,000 units but declined 35% from a year ago. The dollar rose against all major currencies as economies around the world are expected to falter. The dollar rose sharply against the British pound, euro and Australian dollar. Restaurant stocks fell after Darden reported lower than expected earnings.
123jump.com Staff
26 Aug, 2008
New York City
European stock market indexes fell as German consumer and business confidence declined in August. The rising oil and food prices lowered the propensity to spend by consumers. Businesses battle rising wages, struggling exports and elevated euro in the international markets. Russian ruble dropped more than 1% and stocks dropped sharply after Russia recognized two breakaway provinces from Georgia. The oil and gas heavy RTS index dropped 5% and has now lost 25% in two months.
123jump.com Staff
25 Aug, 2008
New York City
Wide spread pessimism was evident in a broad decline in stocks and in the S&P 500 index 447 stocks declined. Existing home sales in July rose 3.1% from June but fell 13% from a year ago. The home sales rose but so did inventories of unsold homes and Median home prices fell 7% from a year ago. Freddie Mac led gainers in the S&P 500 index after it placed $2 billion in debt at significantly higher yield than similar maturities of the U.S. Treasuries.
123jump.com Staff
25 Aug, 2008
New York City
Stocks in Mumbai recovered a fraction as markets in the region rallied. Rupee continued its slide against the dollar as importers increase the demand for dollar and crude oil imports hover above $8 billion a month. The 60% rise in fuel price has kept the trade deficit higher. Gold in rupee is expected to edge higher.
123jump.com Staff
25 Aug, 2008
New York City
Kirin acquired Australia''s second largest dairy farm operations known as Dairy Farmers after ten months it acquired National Foods from San Miguel of Philippines. The brewer agree to pay A$910 million for the dairy and had paid A$2.7 billion for National Foods. Australia, the third largest dairy exporter in the world is expected to increase its milk production less than 2% and exports more than 10% in the fiscal 2009.
123jump.com Staff
25 Aug, 2008
New York City
Stocks in Hong Kong surged 3.5% after investors raced to cover recent short sales. Profits from Yanzhou Coal and China Construction helped the sentiment in Hong Kong and in Shanghai. Market index in Shanghai edged up a fraction. China Construction profit soared 71% and net at Yanzhou Coal surged 160% on higher coal prices in export sales. Corporate income tax collection in Chia fell 4.2% in July.
123jump.com Staff
25 Aug, 2008
New York City
U.S. stocks fell in the morning trading as investors face more asset write downs in financial sector. AIG may write down $2.4 billion in mortgage related assets according to a latest estimate. Existing homes sales rose 3.1% in July from June but fell 13% from a year ago and median home prices declined 7%. Crude oil edged higher and European markets edged higher as markets near closure. Asian markets closed up with Hong Kong surging 3.5% and Japan adding 1.7%.
123jump.com Staff
22 Aug, 2008
New York City
The UK economic growth was flat in the second quarter compared to the first quarter and rose only at 1.4% from a year ago. The manufacturing sector declined for the second quarter in a row as manufcturers battle rising value of pound in international markets. Conumers are battling rising inflation driven by higher energy and food prices. Separately Aon agreed to acquire Benfield Group for 840 million pounds.
123jump.com Staff
22 Aug, 2008
New York City
U.S. brokers may be forced to write down more mortgage related assets in the latest quarterly results. Three largest brokerages collectively have $3 trillion of assets on their balance sheets. Even 3% decline in asset values can wipe out the entire equity base of these companies. Citigrop estimates Goldman Sachs, Morgan Stanley and Lehman Brothers may write down $6.4 billion of mortgage related assets.
123jump.com Staff
22 Aug, 2008
New York City
Stocks gained a day after falling sharply on a sustained rise in inflation. Stocks rose as crude oil prices fell in the region and generally good monsoon season in the country. Normal rainfall in the most part of the nation has raised hopes of a rise in farm income and spending.
