123jump.com Staff
18 Sep, 2007
New York City
Nikkei 225 in Tokyo fell 2% after global credit market worries resurfaced. The broader index Topix declined 2.2%. Mizuho Financial and Aiful Corp plunged 8% after a local lneder Credia filed for bankruptcy protection. Credia filed for protection after it failed to raise financing for its 54 billion yen debt. Sony lowered size of its IPO of the financial unit. Discount retailer Seiyu Ltd raised its forecast of loss for the year.
123jump.com Staff
17 Sep, 2007
New York City
Stocks around the world fel and awaited the rate decision from the Fed tomorrow afternoon. Averages in the America, Europe and in Asia declined. UK stocks remained volatile as depositors withdrew money from the troubled lender Northern Rock for the second day, despite an assuarance from the UK government that it will protect all deposits. Microsoft was found guilty of abusing its dominating market position and a fine of $690 million. Record oil price and gold traded above $725.
123jump.com Staff
17 Sep, 2007
New York City
Stocks in London trading fell 1.7% or 106.50 to 6,182.80. Financial stocks dragged indexes in London and other European markets. Index in London lost 1.2% in Friday tradig. Economist have lowere economic growth projection for the UK by 1% in 2008 an 2009. Prime Minister Brown will meet U.S. Treasury Secretary Paulson to discuss the current credit market malaise. Of the FTSE 100 stocks, 92 declined and 15 lost more than 5%. Branson sells Virgin Megastore.
123jump.com Staff
17 Sep, 2007
New York City
Stocks in Mumbai, India declined in the afternoon but merger and financing activities continued at brisk pace in one of the fastest growing economies in the world. Rajesh Exports plans to sell 51% stake in the company to De Beers or U.S. based private equity group. Tata Sons to buyback stake in Tata Investments. IFCI receives bids from GE and Wilbur Ross led fund for 26% stake. Ispat Industries and Adani Enterprises each to invest nearly $2.5 billion in their respecitve businesses.
123jump.com Staff
17 Sep, 2007
New York City
Stocks in New York are pointing sharply lower opening ahead of the Fed meeting tomorrow. European stocks declined on widening subprime credit squeeze. Northern Rock, fifth largest mortgage lender, in UK fell 35% after losing 31% on Friday. Other bank and financial stocks are trading lower in Europe. Asian markets closed lower. Japan is closed for a holiday.
123jump.com Staff
14 Sep, 2007
New York City
Stocks in New York trading edged sideways ahead of busy week. The Fed action on Tuesday, and earnings from brokers in the week, and options tradig at the end of the week is likely to dominate trading. Fifth rate hike in China for the year may not cool economy. Industrial activities in India lifted stocks. UK dragged the European indexes lower afte the BoE bailed out the third largest home lender, Northern Rock. Economy in the second quarter in Argentina grew at 8.7% on food exports.
123jump.com Staff
14 Sep, 2007
New York City
Stocks in London declined on the worries of economic slowdown, bailout of Northern Rock, and persistent concerns of the U.S. subprime credit squeeze. FTSE 100 index fell 1.2% with 94 stocks in the index trading lower. UK also lowered its economic growth forecast by 1% to 2%. The Bank of England provided emergency lending to home lender Northern Rock to keep the lender operating. The stock fell 31%. For the week the index gained 1.6%. Ireland index fell 3.5% today.
Elena
14 Sep, 2007
New York City
European stock market finished steeply lower Friday amid renewed concerns of a global credit crunch, sparked by Northern Rock. The UK mortgage lender dropped 31% after the Bank of England agreed to provide emergency funds to help it avoid liquidity trouble. Stocks were additionally pressured by China
123jump.com Staff
14 Sep, 2007
New York City
Australian stocks gained on the rising metals, oil, and local dollar. Macquarie, largest financial services company, said that the first profit is likely to jump 40% on strong investment banking and management fees. For the week Australian dollar jumped 1.9% against the U.S. dollar and nearly 4% against the yen. Australian dollar fell in the morning trading after the Bank of England lent emergency funding to house lender Northern Rock. Food and groercy prices are expected to rise in Australia.
Elena
14 Sep, 2007
New York City
U.S. stock averages traded lower amid renewed fears of a global credit crunch. Financial stocks suffered weakness after UK mortgage lender Northern Rock turned to the Bank of England for an emergency loan to avoid liquidity trouble. The company also issued a profit warning. Merrill Lynch shares fell 1.6%, while Lehman Brothers slipped 2%. However, the market erased some of the earlier losses, benefiting from a stronger-than-expected consumer confidence reading.
Elena
14 Sep, 2007
New York City
U.S. stocks traded lower, with the Dow pressured by downgrades on Intel and American Express. Merrill Lynch cut its rating on Intel sending its stock down 1.6%. American Express was driven lower 2.6% by the same broker comments, citing worries about weak U.S. employment.
123jump.com Staff
14 Sep, 2007
New York City
Sensex in Mumbai edged higher on sharply higher trading volume. The total turnover on two exchanges reached $4.5 billion or 18,000 crore rupees. The elevated level of trading reflected strong demand for stocks both from domestic and international investors. Record number of construction contracts industrial expansion kept stocks rising. Ess Dee Aluminium entered the race to acquire packaging business of Alcan. Larsen & Toubro was selected for Steel Authority of India sinter plant expansion.
Elena
14 Sep, 2007
New York City
Wall Street showed considerable weakness at opening Friday, reflecting weaker-than-forecast August retail sales, as well as economic and financial concerns, sparked by U.K. lender Northern Rock which approached the Bank of England for emergency funding. The Commerce Department said that retail sales rose 0.3%, but all the gains were for cars and trucks. Dow member Intel pressured the blue-chip average and tech sector after Merrill Lynch downgraded the chipmaker, sending its stock down 1.6%.
Elena
14 Sep, 2007
New York City
U.S. stock futures reversed from gains, pointing to a weaker opening Friday, dragged down by renewed concerns about the U.S. financial markets amid news of a foreign lender''s difficulties. Retail sales figures and a broker downgrade of Intel exerted additional pressure. The Commerce Department said that August retail sales rose 0.3%, but all the gains were for cars and trucks. Excluding motor vehicles, sales fell 0.4%, which was lower than expected.
123jump.com Staff
14 Sep, 2007
New York City
Stocks in Tokyo surged 1.9% on Friday and for the week were nearly unchaged. Broader index Topix declined 0.8% for the week and gained 1.4% in trading today. Banks, energy tradig companies, and real estate stocks led the advance. Toyota is planning to build its first domestic factory in Japan in 17 years with an investment of 100 billion yen. Sumitomo Metals Mining surged 7% after lifting its second half earnings by 46%.
