- 123jump.com Staff
- 19 Sep, 2008
- New York City
Stocks in UK and Europe soar as optimism returned to the markets. UK benchmark index surged 8.9% and indexes in Paris soared 9%, in Germany scaled 5.6% and in Switzerland rose 6%. UK and US regulators banned short selling in financial stocks. The move lifted financial stocks sharply. Royal Bank of Scotland surged 31% and led gainers in the FTSE 100 index. Realty stocks closed surged on the U.S. plan to inject liquidity in mortgage market. Russian market index soared 29%.
- 123jump.com Staff
- 22 Sep, 2008
- New York City
Stocks in Mumbai fell after crude oil futures rose and rupee fell against the dollar. Reliance Industries began its oil production from deep water wells near Gujarat State Investors fear that ongoing dispute on its sale price may drag beyond its peak production in February 2009.
- 123jump.com Staff
- 22 Sep, 2008
- New York City
U.S. stocks drop after investors worried that bailout plan may be inadequate and the economy may still slide into a recession as the Republican administration carries out the largest bailout of banks. Gold and crude oil surges 5%, silver soars 8%. Dollar plunged against euro and yen.
- 123jump.com Staff
- 22 Sep, 2008
- New York City
Stocks in London fell after the U.S. lawmakers debate the merits and details of $700 billion bailout plan. Nomura of Japan is the top contender for Lehman Brothers asssets in Europe and Asia. UK home prices fel 3.3% in September from a year ago as credit markets remain tight. Oil prices surge.
- 123jump.com Staff
- 19 Sep, 2008
- New York City
Stocks in India tracked the rebound in the U.S. and Asian markets. In the overnight trading market averages in the U.S. surged on the optimism that the government plan to inject capital in the mortgage market will improve liquidity. Banks, realty and IT sector stocks rallied. The Sensex index surged 5.5% on 3 of 2 stocks closing higher. Satyam Computer Services and ICICI Bank increased rose 10%. Reliance Industries rose 6% after the company struck oil in 8 more locations.
- 123jump.com Staff
- 19 Sep, 2008
- New York City
Stocks rallied in the U.S. and Europe after the U.S. government expanded its involvement in supporting the faltering mortgage markets and offered an insurance plan for money market fund. The government is struggling to come up with comprehensive plan to tackle the falling housing market, but so far has offered a piecemeal solution. The additional liquidity provided by the Fed of $188 billion failed to lift market confidence.
- 123jump.com Staff
- 18 Sep, 2008
- New York City
Stocks in Sydney, Australia fell 2.4% after financials plunged on the continued weakness in the U.S. trading. In the overnight trading in the U.S., benchmark indexes fell more than 4% after banks and brokerage stocks fell. Morgan Stanley and Goldman Sachs last two remaining independent large brokerages fell sharply as investors feared that excessive leverage on their balance sheet will drag down two remaining independent large borkerage houses. Rising gold prices lifted mining stocks.
- 123jump.com Staff
- 18 Sep, 2008
- New York City
Stocks in Japan fell on market jitters after a sharp fall in banks and brokerage stocks in the U.S. The overnight fall in the U.S. benchmark indexes of more than 4% unnerved investors. The Bank of Japan in a coordinated move with the U.S. Fed and four other central banks agreed to pump liquidity in the credit markets.
- 123jump.com Staff
- 18 Sep, 2008
- New York City
U.S. stocks surged on the optimisim that regulators will pump new capital in capital markets and devise plans to prop up faltering financial stocks. U.S. regulators demand disclosure of short sellers activities and three largest pension funds in the country will not lend stocks for short sale. Financial stocks surged with Wachovia Bank rallying 50%, led the gainers in S&P 500 index stocks. Of the index stocks, 55 soared 10%, 275 gained more than 3%. Brazil soared 6.5%.
- 123jump.com Staff
- 18 Sep, 2008
- New York City
Central banks in six countries, including the Bank of England added liquidity in the short term dollar loan market. The coordinated move led by the U.S. Federal Reserve Bank will facilitate lending between banks which has dried up since the falel of AIG and Lehman Brothers. UK also banned short sale of financial stocks to prop up banks and brokerage houses. Lloyds TSB agreed to acquire HBOS plc for 12.2 billion pounds after the lender stock nearly falls 40% this week.
- 123jump.com Staff
- 18 Sep, 2008
- New York City
Stocks in Hong Kong trading plunged 7.7% before recovering in the afternoon after six largest central banks added liquidity in the credit market to tune of $188 billion. Fearful investors sold stocks in banking sector after the U.S. market indexes lost more than 4% in the overnight trading. The Hong Kong benchmark index recovered in the afternoon to close nearly unchanged. But nervousness still persists in the market and Shanghai closed 1.7% lower.
- 123jump.com Staff
- 18 Sep, 2008
- New York City
Stocks in Mumbai edged higher after banks rebounded. Central banks in six countries in a coordinated move added $180 billion in new liquidity to international credit markets, led by the U.S. Federal Reserve Bank. HDFC, State Bank of India and Kotak Mahindra closed higher. The wholesale price index increased 12.14% for the latest period ending in the first week in September.
- 123jump.com Staff
- 18 Sep, 2008
- New York City
Six central banks in a coordinated move increased dollar supply in global credit markets as interbank lending comes to a grinding halt in the wake of AIG fall. The Fed led move in conjunction with central banks in Canada, Japan, UK, Europe and Switzerland will make available as much as $247 billion of liquidity. The move, though welcome by banks around the world is not likely to calm nervous investors. Separately in the UK, Lloyds TSB will acquire HBOS for 12 billion pounds.
- 123jump.com Staff
- 17 Sep, 2008
- New York City
Stocks in Australia edged lower as global credit crisis brought down the largest insurance company AIG and receive emergency bailout from the U.S. Fed. The emergency action sent shock waves around the world and only a day ago one of the oldest brokerage houses in the U.S., Lehman Brothers had sought bankruptcy protection. The interbank lending in the U.S. and Europe remain frozen as banks avoided lending to each other.
- 123jump.com Staff
- 17 Sep, 2008
- New York City
Stocks in Hong Kong and in Shaghai dropped more than 3.6% on persistent worries related to the health of the U.S. financial system. The latest bailout of AIG with a huge loan of $85 billion only added to the pile of long worries of rising inflation in China and falling property prices. Hong Kong real estate prices are expected to decline at least 10% as lending tightens and global credit markets worries persist.