123jump.com Staff
25 Apr, 2008
New York City
Stocks in Hong Kong edged lower today but surged 5.5% for the week. In Shanghai trading stocks rose 0.8% and for the week soared 16%. The reduction in stamp duty on trading in China lifted stocks for the second day in a row. Citic Securities, Haitong Securities and China Vanke led gainers in the CSI 300 index. Air China gained 4% after it reported 147% rise in earnings. Yunnan Copper full year profit declined 47% in 2007. Bao Steel is looking to raise $8.5 in international offering.
123jump.com Staff
25 Apr, 2008
New York City
Stocks in India closed higher on earnings and despite rising inflation.
Bharti Airtel gained 9% to 920.10 rupees and led gainers in the Sensex index. The company reported 39.3% rise in net profit to 1,792.30 crore rupees on 41.8% increase net revenues to 7,446.82 crore rupees in the fourth quarter. Ideal Cellular rose 4.7% to 107.80 rupees. The company posted 44.6% rise in net profit to 278.20 crore rupees on 50.7% increase in net sales to 1,972.40 crore rupees in the fourth quarter.
123jump.com Staff
25 Apr, 2008
New York City
Tech stocks fell after a cautious outlook from Microsoft. Microsoft earnings declined 11% to $4.39 billion on nearly flat revenue of $14.45 billion. Weak guidance for the current quarter dragged the stock lower 6%. However, American Express surged 4% after it reported 11% decline in revenue and earnings. Baidu.com revenue soars 108% from a year ago.
123jump.com Staff
24 Apr, 2008
New York City
European stocks market averages gained on a rally in financial stocks. Credit Suisse statement that for now it has adequate capital despite a large loss at the end of the first quarter lifted stocks in the sector. Futures of metals, energy and commodities generally declined. Gold fell below $900 per ounce. European business climate index fell on the rising worries related to global economic conditions and inflation in raw material prices.
123jump.com Staff
24 Apr, 2008
New York City
U.S. stock market averages rose after a rally in financials, insurance and select tech stocks. Apple lifted tech stocks after it reported sharply higher sales and earnings. Credit Suisse reported higher than expected loss but said for now it does not need to reaise capital. Merrill Lynch is not planning to cut its dividend. T Rowe Price, Aflac and Travelers rose after earnings. In Asia China surged 9% and Switzerland led gainers in Europe.
123jump.com Staff
24 Apr, 2008
New York City
UK home prices declined by 2.5% in March from February but were 1.1% higher than a year ago. For the month, the standardised house price was at
123jump.com Staff
24 Apr, 2008
New York City
U.S. stock averages advanced after a steady rise in financials and insurance stocks. Merrill Lynch surged 10% after it said that it will not cut dividend. Credit Suisse edged 5% higher after it swung to $2.2 billion loss and said that for now it may not need to raise capital. Stocks of T. Rowe Price and Aflac gained on better than expected earnings.
123jump.com Staff
24 Apr, 2008
New York City
Maruti unit sales in fiscal 2008 increased 13% on 18% rise in sales. Earnings in the year increased 11% depsite tighter depreciation policies. In the fourth quarter, earnings plunged 33% on higher depreciation expenses. Maruti exported 7% of its vehicles in the fiscal year. Separately cement maker, ACC reported slight gain in profit on 8% rise in sales to 1,861 crore rupees.
123jump.com Staff
24 Apr, 2008
New York City
U.S. stocks edged lower after durable goods order fell 0.3% in March. Mixed earnings from several companies also weighed on the market. Amazon.com fell after earnings rose 30% to 34 cents per share. Apple edged lower after earnings missed the analysts target and Starbucks plunged 11% on weak same store sales and weaker earnings outlook for the year. FMC declined after it reported earnings surged to $1.23. Fidelity National Title fell on weak housing market and earnings slide.
123jump.com Staff
24 Apr, 2008
New York City
China, in a move to improve sagging sentiment among investors lowered its stamp duty tax on trading to 0.1% from 0.3%. Stock averages in China surged 9% on the move but stocks may sag again on rising inflation and growing disillusion among investors. Major indexes in China have lost at least 30% before gains of today. In Hong Kong stocks edged higher as well. Property prices are expected to rise in the second quarter as investors shift their focus away from stocks.
123jump.com Staff
24 Apr, 2008
New York City
Stocks in Japan edged lower after JFE Holdings reported revenue rise of 8.6% and earnings decline of 12.6%. The company also hinted that a sharp rise in raw materials costs from Australia will force it to revise prices of steel products higher and did not give earnings guidance for the rest of the year. Fanuc also estimated 4.6% decline in operating income. The BOJ reported March corporate services price index rose 0.4% after rising 0.7% in February.
123jump.com Staff
23 Apr, 2008
New York City
European markets edged higher after a rise in metals and energy stocks. Infineon Technologies reported second quarter loss surged to 1.37 billion from 11 million euros after it wrote down the memory chip business that trades separately under the name Qimonda AG. Volkswagen sales rose 1.4% to 27 billion euros and earnings rose 26% to 929 million euro from 740 million euros. Essilor International SA reported first quarter sales rise of 3.6% to 762 million euros.
123jump.com Staff
23 Apr, 2008
New York City
U.S. stocks rebounded after morning weakness, led by strength in the tech stocks. Apple after the close reported earnings of $1.16 per share compared to 87 cents a year ago on $7.51 billion in revenue compared to $5.26 billion a year ago. Starbucks reported second quarter sales rise of 12% and earnings per share declined to 15 cents from 19 cents a year ago. Starbucks also guided 2008 earnings to be lower than 87 cents in 2007.
123jump.com Staff
23 Apr, 2008
New York City
Safeco agreed to be acquired by Boston based Liberty Mutual at $68.25 per share of $6.2 billion. The deal represents 51% premium from the closing price of Safeco stock on Tuesday. Privately held Liberty Mutual will pay cash for the deal and there are no financial contingencies. Safeco, Seattle based insurer has struggled in the past five years as auto insurance premiums have declined and costs of servicing claims have risen.
123jump.com Staff
23 Apr, 2008
New York City
Stocks in Japan advanced spurred by rising crude oil prices on growing demand from China and supply constraints from Iraq and Nigeria. In Tokyo trading Nikkei 225 rose 0.23% or 31.34 to 13,579.16, and the broader Topix Index increased 0.2% or 2.93 at 1,314.39.Exports in March grew 2.3% from the same period a year ago compared with 8.7% rise in February. Imports in March surged 11.1% on rising oil and materials costs.
