- 123jump.com Staff
- 06 May, 2008
- New York City
UK stocks closed nearly unchanged after the service index in April fell to a five year low. Of the 102 FTSE 100 stocks 26 gained, 74 declined and 2 were unchanged. Tullow Oil led advancers in the index shares with a rise of 24% after crude oil prices jumped to $122 per barrel, boosted by further supply disruptions. British Land fell after Morgan Stanley lowered its rating on the company.
- 123jump.com Staff
- 06 May, 2008
- New York City
U.S. stocks rebounded from the morning slump after investors focused on reduced capital requirement for Fannie Mae and a steady rise in crude oil and natural gas prices. Fannie Mae will be allowed to operate with capital control ratio of as low as 10% by the third quarter of this year. Crude oil traded above $122. NYSE Euronext Group reported a sharp rise in revenue and earnings on higher revenues in derivative products. D R Horton revenue slumped 65%.
- 123jump.com Staff
- 06 May, 2008
- New York City
U.S. stocks fell in the morning trading after the release of earnings from Fannie Mae and UBS. Fannie Mae swung to first quarter 2008 loss of $2.2 billion compared to profit of $961 million. The mortgage lender also cut its dividend to 25 cents per share and announced a plan to raise $6 billion to meet capital requirements. Separately, Swiss bank UBS reported a loss of SFr 11.54 billion and a plan to eliminate 5,500 jobs.
- 123jump.com Staff
- 05 May, 2008
- New York City
European markets closed unchanged in a quiet trading. Markets in UK were closed. Crude oil surged 3% on the continued worries related to Nigerian oil supply. Natural gas, crude oil and precious metals rebounded. Gold, Silver and several food commodities clossed higher. Deutsche Telekom is liklely to bid for Sprint. Deutsche Post said that it has met its first quarter operating profit target.
- 123jump.com Staff
- 05 May, 2008
- New York City
U.S. stocks opened and closed lower. Yahoo and Microsoft were $4 per share apart and called off merger talks. Sprint is likley to initiate merger talks with Deutsche Telekom. Sprint surged 10%. Separately, Arcelor Mittal is in preliminary talks with the second largest steel company Angang Steel in China. Countrywide plunged 10% on the speculation that the Bank America purchase terms may be revised substantially.
- 123jump.com Staff
- 05 May, 2008
- New York City
China permitted more companies to open investment management operations, however the companies remained cautious. April consumer price inflation in China is expected to be near 8%, lower than in March and February. Angang Steel jumped 4% on the reports that Arcelor Mittal and Angang are in discussions to explore merger or stake sale. Retailer Maoye International fell below its offering price of HK$3.10 on its first day of trading.
- 123jump.com Staff
- 05 May, 2008
- New York City
U.S. stocks fell at the opening after the merger talks between Yahoo and Microsoft fell. Yahoo fell nearly 20% after the two companies could not agree on a price. Sprint Nextel rose on the potential interest from Deutsche Telekom. Arcelor Mittal, the largest steel company and second largest Chinese steel company are in merger talks. Berkshire Hathaway, after reporting sharply lower earnings over the weekend, is expected to make a purchase in Europe.
- 123jump.com Staff
- 02 May, 2008
- New York City
European stocks closed higher on a rise in airlines, banks and commodities stocks. The market averages in the region tracked morning gains in the U.S. German retail sales fell in April as consumers battel rising food and energy prices. Home prices in UK declined as lenders tighten mortgage lending. April auto sales in France rose 14%. BNP Paribas and Credit Agricole rose on a broker recommendation.
- 123jump.com Staff
- 02 May, 2008
- New York City
U.S. stocks closed mixed after April payrolls declined 20,000 and unemployment fell to 5% from 5.1%. The smaller than expected drop in payroll lifted stocks in the morning. Crude oil rebounded 3% and dragged market averages at close. Yield on 30 years bonds rose. Stocks in Europe and Latin America closed higher tracking gains in the U.S. Countrywide Financial debt status was lowered to junk level after the Bank of America in filing suggested that it may not guarantee $93 billion of debt.
- 123jump.com Staff
- 02 May, 2008
- New York City
Stocks in Japan rose sharply after the yen fell to a 2-year low. Investors returned to stocks on he falling commodities and crude oil futures prices and rising optimism related to credit market. In Tokyo trading Nikkei 225 rose 2.05% or 282.4 to 14,049.26, rising 1.3% for the week, and the broader Topix Index increased 2.3% or 31.29 to 1,377.39.
- 123jump.com Staff
- 02 May, 2008
- New York City
U.S. stocks edged lower after surging nearly one percent at the opening. The Fed widened its term auction next week to $75 billion from $50 billion. April non-farm payroll declined lower than expected, sparking a rally in dollar. Construction and retail industries continue to shed workers. In addition, construction spending fell 1.1% in March. Crude oil and gold edged higher. Tech stocks fell after a surge at the opening.
- 123jump.com Staff
- 01 May, 2008
- New York City
Stocks in Japan fell on the downgrade of economic growth by the Bank of Japan and a spate of negative earnings news from Kirin Holdings and Seiko Epson Corp. March cash earnings of employees rise 1.2% at small companies and 1.4% at large and mid-size companies. Seiko Epson reported that annual profit for the year ended March 31st fell to 19 billion yen as net sales fell 4.8% to 1.3 trillion yen from 1.4 trillion a year earlier.
- 123jump.com Staff
- 01 May, 2008
- New York City
Stocks in financials and technology sector closed sharply higher at close on a rally in the late afternoon. Tech heavy Nasdaq closed up 2.8%, Dow Jones Industrial rose 1.5% and S&P 500 increased 1.7%. Most markets in Asia, Latin America and Europe were closed for trading today. Exxon Mobil led decliners in Dow and American Express led gainers. Of the stocks in S&P 500, 430 closed higher and 70 closed lower, with MBIA leading gainers and JDS Uniphase leading decliners.
- 123jump.com Staff
- 01 May, 2008
- New York City
The Bank of England in its report on financial stability said that the current re-pricing in the credit markets is taking longer than anticipated. But, added that prices of securities are likely to rebound from the current low in levels in months ahead. FTSE 100 index close unchanged on a weakness in energy and mining and metals related stocks. Smith & Nephew led decliners in the FTSE 100 shares with a drop of 13% followed by losses in Eurasian Natural of 3%, in Home Retail Group of 2.8%.
- 123jump.com Staff
- 01 May, 2008
- New York City
General Motors and Ford report sales decline but Toyota and Nissan sales rise. As consumer watch the rising fuel cost, more people chose to buy smaller vehicles and forego purchase of light trucks. There were also two fewer selling days in April this year compared to April 2007. GM unit sales declined 17% and sales at Ford fell 12%. Toyota unit sales rose 3.5% and at Nissan sales surged 6.7%.