123jump.com Staff
27 Feb, 2008
New York City
U.S. dollar reached a record low against euro after the comments from the Fed Chairman Bernanke. Investors now believe that the Fed is more likely to lower rates in the coming weeks. The dollar fell on the news and base and precious metals rose. Oil fell but traded at elevated levels. In earnings news, Autodesk reported 20% rise in sales and flat earnings on sharply lower margins as woes of construction industry hurt higher margin software sales. Dollar traded at record low to $1.5134 per euro.
123jump.com Staff
27 Feb, 2008
New York City
Financial Secretary of the Hong Kong Special Administrative Region John Tsang told the Legislative Council today that budget surplus for the fiscal 2007-2008 will jump to a record HK$115.6 billion, which is about 7.2% of Hong Kong
123jump.com Staff
27 Feb, 2008
New York City
U.S. stocks edged higher as the Fed Chairman gave his assessment to U.S. lawmakers. The comments appear to support growth and less concerned about inflation and support for the currency. Dollar traded at another low against the Euro as investors worried that the Fed will lower rates in the coming weeks. Nortel plans to reduce 2,100 staff and relocated 1,000 jobs to lower cost regions. Nortel fell 10% after reporting larger than expected loss.
123jump.com Staff
27 Feb, 2008
New York City
Tokyo stocks gained for the third day in a row, nearly 5% gain, on the back of improving sentiment in the international markets. Tech stocks in Japan closed higher on the $15 billion stock buyback from IBM. Commodities, metals, and crude oil closed near record level on falling dollar. Crude oil reached $101.35 a barrel and the U.S. dollar fel to a record low against euro. Gold closed at a new high and silver added 3.5%.
123jump.com Staff
26 Feb, 2008
New York City
ASX 200 index rose 1.1% or 61.7 to close at 5,621.60. Zinifex Limited and Allegiance Mining NL today jointly announced a revised takeover offer for Allegiance, priced at $1.10 cash per share. Zinifex delivered a record half-year profit of $1,309.7 million for the period ended 31 December 2007, 74% increase from a year ago on the sale of smelting assets. BlueScope Steel share gained 6.3% after the company hinted that profit in the current half is likely to rise on higher steel prices.
123jump.com Staff
26 Feb, 2008
New York City
UK stocks rallied after financial stocks recovered. Standard Chartered rose after reporting second half net income increased 23% to
123jump.com Staff
26 Feb, 2008
New York City
Lufthansa AG reported 2007 sales rise of 13% to 22.4 billion euros and operating profit increase of 63% to 1.4 billion euros. For the year number of passengers increased 5.6% to 56.4 million and at Lufthansa and at Swiss International increased 18% to 63 million. Suez in France 2007 profit increased 8.6% to 3.9 billion euros on higher electricity prices. Areva second half profit rose 11% to 448 million euros on higher uranium prices.
123jump.com Staff
26 Feb, 2008
New York City
U.S. stocks closed higher after IBM authorized $15 billion stock buyback and talks of Abu Dhabi controlled fund investing in Lennar. Investors also faced difficult news including rising wholesale inflation, falling consumer confidence, and sharp rise in foreclosure in January. Home price index showed a sharp decline in prices in the top 20 metro areas. Prices in eight cities fell in double digits. Macy''''s Target, Nordstrom, and AutoZone rose but Home Depot fell after the release of earnings.
123jump.com Staff
26 Feb, 2008
New York City
Railway Minister Lalu Prasad presented a budget to parliament that showed rising revenue, improving operation efficiency, and strong financial surplus. The general strength in the economy helped the minster to lower petrol and diesel freight duty and project rising capital expenditure in the next fiscal year. Steel and other metal stocks rallied on the higher outlays from the budget. Railway ministry expect the surplus fund at the end of the current fiscal year to be near 21,000 crore rupees.
123jump.com Staff
26 Feb, 2008
New York City
U.S. stocks edged higher in a cautious trading as investors digested several economic news and earnings. Home prices index measuring home prices in top 20 metropolitan areas registered a sharp fall of 9% across the nation. The sharpest decline in years suggested that housing market reovery may take longer than anticipated. Consumer confidence fell in February and a measure of wholesale price index rose more than expected in January. Earnings from Home Depot missed analysts projections.
123jump.com Staff
26 Feb, 2008
New York City
Home prices fell across top 10 and 20 metro areas according to S&P-Case Shiller index. Home prices in Charlotte and Portland increased and in Seattle were nearly flat. Miami led the decliners with a plunge of 17.5% and prices in Las Vegas and Phoenix fell 15.3%. The controversial index does not track prices in smaller towns where price declines have not been severe. coastal cities experienced one of the largest home price rise in the last six years.
123jump.com Staff
26 Feb, 2008
New York City
The worries related to new stock offerings on Shanghai exchange kept investors on the edge again. The CSI index in Shanghai trading rose as much as 3% but closed only a fraction higher. Hong Kong stocks took its lead from Shahghai trading but managed to close higher. Hang Semg added 1.9% and China Enterprise Index increased 1%. Steel companies fell after raising prices of most of its products. Baoshan raised prices by 20%. Yunnan Copper, Wuhan Iron, and Zhongjin gold fel.
123jump.com Staff
26 Feb, 2008
New York City
Rising demand for office space in Central Tokyo will lead to a decline in available new space by 45% in 2008, for the second year in a row. Honda, Toyota, and Nissan raised their automobiles production in Japan to meet demands in emerging markets. Sony and Sharp are in an alliance to build LCD panel related manufacturing facility in Osaka.
123jump.com Staff
25 Feb, 2008
New York City
U.K. prices fell for the fifth straight month as prices dropped 0.2% in January to
123jump.com Staff
25 Feb, 2008
New York City
Hong Kong stocks edged lower in nervous trading after a sharp sell-off in Shanghai stocks. Large expected public offerings from governmet controlled companies are likely to choke liqidity in the market. Several offerings are expected to raise more than $3 billion in the next three months. Hong Kong taxpayers are likely to revecie H$40 billion of refunds, but it may take at least a year before economy will see any impetus from it.
