- 123jump.com Staff
- 04 Aug, 2008
- New York City
TNK-BP chief financial officer Owen quits as shareholders continue to battle for control of the company. In London trading stocks fell on weak commodities and metals prices. Crude oil fell 1% in the session and base metals prices declined. Of the 102 FTSE 100 index stocks, 49 rose, 52 declined, and 1 was unchanged. Thomson Reuters led advancers in the index shares with a rise of 4.5% and Kazakhmys led decliners with a loss of 10%.
- 123jump.com Staff
- 04 Aug, 2008
- New York City
Stocks in Shanghai and Hon Kong fell sharply after the global markets worried persisted in trading. Benchmark indexes in Hong fell 1.5% and in Shanghai dropped 2.4%. Service industry index rose 1.2% in July on rising construction activities ahead of the Olympic Games in Beijing. HSBC operating revenue fell 2% and earnings in the first half dropped 29% on 58% rise in loan loss provision in the period. Stocks of shipping lines and steel makers fell on the expectations of weak demand.
- 123jump.com Staff
- 04 Aug, 2008
- New York City
Stocks in Mumbai trading fell, following a weak trading in the region. Elevated crude oil prices, persistent worries related to the U.S. economic health and rising inflation in India kept investors on the sidelines. Total trading on the BSE and NSE fell 10% to 20,000 crore rupees. Grasim Industries led the gainers in the benchmark Sensex index with a rise of 3.5% and TCS led the decliners with a fall of 2.6%. Cement stocks gained, despite a price freeze and weak demand in the current quarter.
- 123jump.com Staff
- 04 Aug, 2008
- New York City
U.S. stocks fell after the release of June personal income, spending and savings data. The income in the month rose 0.6% but after adjusting for inflation fell 1.9%. Personal savings rate hovered near a low 2.5%. The PCE price index, a measure of prices paid by consumer rose 4.1% from a year ago and may increase in the coming months. Church & Dwight and Humana rose after the release of earnings.
- 123jump.com Staff
- 01 Aug, 2008
- New York City
A rise in unemployment, elevate crude oil prices and general worries related to the U.S. economy kept sellers in command. Unemployment in July rose to 5.7% from 5.5% in June and service sector along with manufacturing shed jobs. In earnings news, General Motors lost $15.5 billion in the quarter as it struggled with falling sales and strike at its plants in the quarter. IAEA approved unanimously a deal to inspect India''s civilian nuclear program. Brazil, Argentina and European markets drop.
- 123jump.com Staff
- 01 Aug, 2008
- New York City
UK manufacturing index in July dropped to a decade low as domestic orders fell the most in nine years. Separately, corporate insolvencies rose 15% from a year ago in the second quarter. British Airways first quarter plummeted 90% to
- 123jump.com Staff
- 01 Aug, 2008
- New York City
Positive comments from the President Jintao lifted stock market averages in Hong Kong and Shanghai. His comments appeared pro growth, lifting stocks in the banking and industrial sectors. China reported urban unemployment dropped in the first half to 4%. Hong Kong in the first fiscal quarter ending in June reported a deficit of HK$16.5 billion and in June of HK$10.8 billion.
- 123jump.com Staff
- 01 Aug, 2008
- New York City
Stocks in Japan closed lower after weak earnings from Sumitomo Mitsui Financial Group and NEC disappointed investors. For the week, Nikkei 225 index fell 1.8% and in Friday trading lost 2.1%. SMFG reported net income decline of 51% to 58 billion yen as ordinary income declined 5% from a year ago. NEC Corp reported net income fell 50.4% to 483 million yen and revenue decline of 0.7%. Commodities and financial stocks fell in the session.
- 123jump.com Staff
- 01 Aug, 2008
- New York City
U.S. stocks fell after a rise in unemployment rate in July and weak earnings from several companies including General Motors. In the month U.S. shed 51,000 jobs matching losses in June and unemployment rate rose to 5.7% from 5.5% in June. Except government sector all other sectors in the economy shed jobs. General Motors reported quarterly loss of $15.5 billion or $27.33 a share on worldwide sales decline of 18% to $38.2 billion.
- 123jump.com Staff
- 31 Jul, 2008
- New York City
European markets closed mixed but traded with a negative bias. Mixed earnings from Deutsche Bank, Shire, Sanofi-Aventis, Unilever and AstraZeneca dominated trading sentiment in the region. Deutsche Bank reported higher than expected write down in mortgage assets and earnings fell sharply in the quarter. Unilever earnings declined on stronger euro and higher restructuring costs. The drug maker Sanofi-Aventis second quarter sales rose 5.2% but adjusted earnings fell 4.4%.
- 123jump.com Staff
- 31 Jul, 2008
- New York City
Stocks in Hong Kong and Shanghai traded weak as financials and export sensitive sectors declined. OCCL, a container company stock fell 11% after it reported first half revenue rose 27.4% and profit plunged nearly 95%. The previous year period included one-time gain from a sale of terminal division, excluding the gains, earnings in the period dropped 30% before tax.
- 123jump.com Staff
- 31 Jul, 2008
- New York City
Stocks in Japan traded in a tight range after wages declined for the first time this year in June. Nintendo reported first quarter profit rise of 34% to 107 billion yen and sales increased 24% to 423 billion yen. The company cut its annual earnings outlook by 26% to 325 billion yen. Taked Pharmaceuticals reported first quarter profit decline of 98% and but projected full-year profit rise of 25% to 200 billion yen.
- 123jump.com Staff
- 31 Jul, 2008
- New York City
Stocks in UK fell as consumer confidence dipped to a new low and home prices fell in July. The steady drop in home prices and tight monetary conditions have soured consumer moods and expectations of further economic weakness are pervasive. Of the stocks in FTSE 100 index, HBOS led advancers with a rise of 7% and BT Group led decliners with a loss of 7%. Retailers, Next, Kingfisher and Sainsbury fell on the weak consumer related sectors.
- 123jump.com Staff
- 31 Jul, 2008
- New York City
Investors sold stocks after the second quarter economic growth was reported at 1.9% annual rate by the Commerce Department. The department revised economic growth lower for several quarters dating back to 2005 and economy in the fourth quarter 2007 shrank at 0.2% rate lower than earlier projection of 0.6% growth. Exxon Mobil reported a decline in production of 7.5% and technology shares fell after Akamai Technologies lowered its earnings guidance.
- 123jump.com Staff
- 31 Jul, 2008
- New York City
U.S. stocks traded lower after the release of weak U.S. economic growth estimate and lowered estimates of the previous years. The economy grew at 1.9% annual rate in the second quarter and growth rate for the first quarter was lowered to 0.9% from 1%. The economy shrank at 0.2% in the fourth quarter of 2007 compared to earlier estimate of a rise of 0.6%. In the earnings news, MasterCard reported a loss on settlement with American Express and Visa reported earnings rise of 41%.