- 123jump.com Staff
- 13 Oct, 2008
- New York City
UK stocks surged after the European goverments took aggressive steps and offered $1.7 trillion in capital to loan to banks and take direct stakes as well. The broad action emerged after a meeting of European leaders in Washington and in Paris. UK also took stakes in RBS, HBOS and Lloyds TSB.
- 123jump.com Staff
- 13 Oct, 2008
- New York City
Stocks in New York surge more than 11% in the largest one-day gain since 1939 on the hopes that
- 123jump.com Staff
- 13 Oct, 2008
- New York City
Banks traded sharply higher after European government announced a bank bailout plan of $1.8 trillion. The huge fiscal support lifted markets in Europe, New York and Asia. Apple surged. Insurance companies rallied. Steel, mining and energy companies gained on a rise in metals and oil prices.
- 123jump.com Staff
- 13 Oct, 2008
- New York City
European leaders after a weekend of discussions offered national plans to support banks and also take direct stakes in banks that will wipe out many shareholders. The European governments offered
- 123jump.com Staff
- 13 Oct, 2008
- New York City
Stocks in Europe surge 11%, in Asia close up 7% and in New York soar 6%. European governments decided to inject large sums of capital in banks and banking system. Crude oil price rebound 4% lifting the energy complex stocks around the world. Banks rise in the U.S. and Europe. UK banks trade mix.
- 123jump.com Staff
- 13 Oct, 2008
- New York City
Mitsubishi UFJ completed its purchase of 21% stake in Morgan Stanley after lowering the conversion price of the convertible stock to $25.25. The stock pays 10% dividend. It is not clear if Mitsubishi UFJ will be given shares if Morgan Stanley stock falls further or raises capital at a lower price.
- 123jump.com Staff
- 10 Oct, 2008
- New York City
Stocks recovered from near 6% loss two times in the trading today. In the late afternoon regulators suggested that settlement for Lehman bonds insurance went ahead with no apparent damage to the financial system. Banks recovered after the news and led the rebound in the indexes.
- 123jump.com Staff
- 10 Oct, 2008
- New York City
The finance ministers gather in Washington to discuss current financial markets and banking system health and look for a global solution. The European political leaders are meeting in Paris this weekend to find their own solution but are likely to focus on banking system.
- 123jump.com Staff
- 10 Oct, 2008
- New York City
AIG fell after media reports suggested another need for capital infusion. Wachovia rose after Citigroup abandoned the takeover plan, clearing path for Wells Fargo. BHP Billiton, Rio Tinto and Brazil based Vale plunged 10%. Macys fell on sales warning. Chevron fell after the company raised q3 views.
- 123jump.com Staff
- 10 Oct, 2008
- New York City
Stocks in New York trading continue to slide despite another round of assurances from regulators and President Bush. The Dow and S&P 500 indexes dropped more than 5%. Crude oil plunges more than $5 a barrel. Lehman credit default swap settlement indicates a price of near 90 cents for insurance.
- 123jump.com Staff
- 10 Oct, 2008
- New York City
Asian markets plunge as global credit markets remain seized. Yamato Life in Japan filed for bankruptcy protection on sharp losses in investment portfolio. Markets in India plunge to as low as 9.6%, rupee drops to a record low and the RBI lowered the cash reserve ratio for banks.
- 123jump.com Staff
- 10 Oct, 2008
- New York City
Prudential Financial reported after the close a loss in investment portfolio and suspended stock buyback. Horace Mann, another insurer tapped bank credit line to cover losses related to investments and hurricanes. Lincon Financial dropped ahead of earnings at the end of the month.
- 123jump.com Staff
- 09 Oct, 2008
- New York City
Banks in UK are likely to tap as much as
- 123jump.com Staff
- 09 Oct, 2008
- New York City
Hong Kong market averages rebounded from sharp declines on Wednesday as financial and realty stocks advanced on interest rate cuts in the region. Gains were limited as the interbank rates remained steady but near its record level, despite a rate cut by Hong Kong and China.
- 123jump.com Staff
- 09 Oct, 2008
- New York City
Stocks in Australia shrugged of a series of interest rate cuts in the region and closed lower after unemployment rate increased in September and global economic worries dominate the economy. The Reserve Bank of Australia injected A$3.49 billion into the money markets today.