- 123jump.com Staff
- 09 Apr, 2008
- New York City
China reported a decline in consumer confidence in the first quarter on rising food and energy prices. However, real estate sales continue to surge in March after falling for two months in a row. Stocks in Shanghai plunged 5% as investors worried that earnings in the first quarter will be lower than expected. Hang Seng index fell 1.4% but recovered from larger losses on rising energy and commodities stocks.
- 123jump.com Staff
- 09 Apr, 2008
- New York City
The new governor at the Bank of Japan left key interest rate unchaged at 0.5% and warned that economy is sluggish and private investment from businesses is declining. Japanese steelmakers agreed to pay nearly three times for the coking coal from Australia. Coal miners in Australia have raised prices for the last five years to take advantage of economic boom in China and India. Earlier South Korea agreed with a similar price hike.
- 123jump.com Staff
- 08 Apr, 2008
- New York City
Global markets were on the decline after the IMF quarterly report estimated $1 trillion in U.S. loan related losses. The estimate put investors on the defensive and urged banks and world financial regualtors to act quickly to improve health of lenders. Separately, Washington Mutual announced a plan to raise $7 billion, including $2 billion from a private equity group TPG Capital led investors. Home builders declined sharply. Coal and other mineral miners surged.
- 123jump.com Staff
- 08 Apr, 2008
- New York City
London stock averages fell after a report by mortgage lender HBOS said house prices fell 2.5% in March from the previous month. However, gains by commodity stocks helped trim losses. In London trading FTSE 100 fell 0.41% or 24.6 to 5,990.20. The International Monetary Fund said today that banks and governments should be prepared for rising losses related to U.S. credit markets and estimated that total losses can reach to $1 trillion.
- 123jump.com Staff
- 08 Apr, 2008
- New York City
European markets were on the decline after the IMF report suggested that total losses related to U.S. riskly loans could reach $1 trillion. The report predicted dire consequences for banks and financial systems if financial regulators and banks do not act quickly. Banks and brokerage stocks across the region fell.
- 123jump.com Staff
- 08 Apr, 2008
- New York City
Stocks in India fell after a sell-off in the region on persistent worries related to credit markets. Sensex declined 1.1% or 169 to close at 5,587.62 and CNX Nifty fell 1.1% or 51 to close at 4,709.65. Larsen & Toubro fell 5.1% to 2,581.30 rupees despite the company receiving four orders worth 1,687 crore rupees. Wipro lost 4% and led the decliners among software exporters.
- 123jump.com Staff
- 08 Apr, 2008
- New York City
Hong Kong Stock indexes fell on resurgent fears of credit market losses that led financial stocks lower. Hang Seng Index fell 1.9% or 267.07 at 24,311.69, and China Enterprises Index fell 1.67% or 223.66 to 13,196.22. Rising commodities prices and weak dollar fueled the inflation worries in the region. China business climate index fell on severe weather condition in the first quarter.
- 123jump.com Staff
- 08 Apr, 2008
- New York City
In Tokyo trading Nikkei 225 plummeted 1.49% or 199.8 at 13,250.43, and the broader Topix Index fell 1.8% or 22.94 at 1,282.69. Diet in Japan is expected to vote on the appointment of Masaaki Shirakawa as the BOJ governor. The post had been vacant for the first time in eighty years. Separately, private report showed that corporate bankruptcies rose 7.7% in fiscal 2007, for the second year in a row.
- 123jump.com Staff
- 07 Apr, 2008
- New York City
Santos and its partner Apache Corp based in the U.S. plans to spend $800 million on the development of the Reindeer gas project located off the coast of Western Australia and hopes to deliver gas at the end of the year 2010. Two directors at Fortescue were forced to liquidate their holdings in the company to cover margin loans totaling $23 million. ANZ Bank stock fell 7% after it provisioned $975 million to cover subprime losses, 72% higher than fiscal 2007.
- 123jump.com Staff
- 07 Apr, 2008
- New York City
European stocks edged higerh after Novartis agreed to purchase a stake in eye care unit of Nestle, J C Flowers pursued Friends and Provident and French railroad company SNCF bid 1.1 billion euros for logistics company Geodis. The deal news lifted stocks across the region. Banks and mining stocks gained after analysts recommended UBS and Anglo American.
- 123jump.com Staff
- 07 Apr, 2008
- New York City
U.S. stocks gained nearly 0.7% by mid-day trading but lost most of the gains as oil and gasoline climbed. Gold and silver regained some of the luster lost last week. Crude oil traded near record level after a rise of $2.55 to $108.78 a barrel and gold jumped $13.60 to $926 per ounce. Investors bid stocks up in the morning after news of posssible capital injecton of $5 billion in Washington Mutual from a group of investors led by buyout group TPG.
- 123jump.com Staff
- 07 Apr, 2008
- New York City
Stocks in Hong Kong closed higher after a week of losses on a rise in commodities and earnings from Sinopec. In Hong Kong trading Hang Seng Index rose 1.29% or 314.13 at 24,578.76, and China Enterprises Index of Hong Kong-listed mainland companies, or H shares, edged up 2.15% or 282.31 at 13,419.88.Sinopec stock increased 2% after it reported 2007 net income rise of 5.5% on revenue gain of 13.4% on higher gas and oil revenue. In Shanghai trading CSI 300 advanced 5.34% or 195.12 at 3,845.82.
- 123jump.com Staff
- 07 Apr, 2008
- New York City
Mumbai stocks rose sharply after Sebi said that it is considering to streamline dual stock listing on exchanges in India and other countries. Rally in commodities in the region also lifted stocks. Sensex gained 2.7% to close at 15,757 and CNX Nifty added 2.5% to close at 4,761. ICICI Bank and Ranbaxy Laboratories led the advancers in the Sensex index. However, Maruti Suzuki India and Ambuja Cements led the decliners in the index. Reliance Communication is likely to launch service in Sri Lanka.
- 123jump.com Staff
- 07 Apr, 2008
- New York City
Motorola agreed to appoint key adviser to Carl Ichan on its board immediately and nominate WR Hambrecht at the upcoming meeting of shareholders. Ichan will drop all litigation and not solicit additional information ahead of annual shareholder meeting. Motorola, in an apparent set-back will look for advice from hostile investor Ichan in selecting top executives at Motorola and soon to be separated its mobile phone unit.
- 123jump.com Staff
- 07 Apr, 2008
- New York City
Stocks in Japan rose after the release of index of leading indicators and on rising commodities prices. In Tokyo trading Nikkei 225 gained 1.18% or 157.01 at 13,450.23. Nippon Mining House led gainers in the Nikkei 225 index shares with a rise of 8.9% on the rise in commodities prices. OECD urged Japan not to raise interest rate as consumer remains weak. Masaaki Shirakawa was nominated by the Prime Minister to lead the central bank.