- 123jump.com Staff
- 14 Aug, 2008
- New York City
Urban Corp, one of the leading listed real estate developers in Japan filed for a court protection. The filing spurred concerns among banks and other real estate management funds of losses. K.K. DaVinci, largest real estate manager in Japan dropped 11% and Kansai Urban declined 8% to a five-year low. NTT Urban declied 4% as well. Separately, Baltic Dry Index rose 1.5% after dropping for a month as crude oil traded higher and demand for ocean freight remained stable.
- 123jump.com Staff
- 14 Aug, 2008
- New York City
The market averages closed higher fighting a barrage of economic news. Inflation index in July rose at the sharpest pace of 0.8%, existing home sales fell in the month to a 10-year low, crude oil inventories declined and initial clamis of unemployment fell 10,000 to 450,000 at the end of last week. Stocks managed to rise as finacials, commodities and energy related companies closed higher. In Europe, euro zone inflation rose and economic growth turned negative. Inflation in India surged.
- 123jump.com Staff
- 14 Aug, 2008
- New York City
UK stocks gained as much as 1.7% on a sharp rise in commodities stocks. The benchmark index closed up 0.9% after the release of inflation data in the U.S. Euro zone inflation reached 4% in the last month according to the latest data released today. British Air, American Airlines and Iberia signed a joint business tie up and plan to seek approval from the U.S. and European authorities. Barclays fell after analyst at Goldman Sachs estimated
- 123jump.com Staff
- 14 Aug, 2008
- New York City
Stocks in Mumbai fell sharply after wholesale inflation at the end of the first week in August surged to a record high. The rising fuel and food prices contributed to the rise. The index had risen only 4% in the same period last year. The rise in inflation only firms the RBI stance in keeping the monetary policy tight. Banks and financial stocks fell. Automakers fell after the government indicated no plans to lower fuel prices, despite the recent declines.
- 123jump.com Staff
- 14 Aug, 2008
- New York City
U.S. stocks fell after a sharp rise in inflation and weakening European economies. Consumer price index in July rose at 0.8% and so called core rate of inflation increased at 0.3%, above the target range of the Fed. The sharp increase in inflation, as measured by CPI, has increasingly been viewed as a lagging indicator and many people experience higher inflation that recorded by the index. European economies shrank in the second quarter at 0.2% after rising at 0.7% in the first quarter.
- 123jump.com Staff
- 13 Aug, 2008
- New York City
Financials and retailers fell after weak earnings and cautious outlook on these sectors. Macys fell after quarterly sales declined and Liz Claiborne dropped the most in S&P 500 index after it reported a loss. Bank of America led the decline in financial sector after a cautious outlook from Merrill Lynch. Deere & Company dropped 3% after it missed earnings estimates. Crude oil rose after the weekly inventories dropped more than expected.
- 123jump.com Staff
- 13 Aug, 2008
- New York City
U.S. stock fell after weaker than expected earnings from Deere & Company and Macys. Deere reported earnings of $1.32 a share compared to $1.18 a share on the revenue rise of 17% to $7.7 billion. Macys net income in the second quarter fell 3% and on higher integration cost earnings rose to 17 cents a share compared to 16 cents a share. Bank of America and other banks fell after cautious comments from Merrill Lynch. CVS Caremark agreed to buy Longs Drug Stores for $2.7 billion.
- 123jump.com Staff
- 12 Aug, 2008
- New York City
JP Morgan Chase comments on the outlook in the second half and expectations of rising losses in its credit portfolio dragged financials and benchmark indexes fell. The U.S. trade deficit in June fell 4% to $56.8 billion. Exports rose on weaker dollar but imports in the month rose 1.8% to $221.2 billion of which petroleum products accounted $44.5 billion. The newly merged Thomson Reuters second quarter earnings fell to $172 million or 22 cents a share.
- 123jump.com Staff
- 12 Aug, 2008
- New York City
U.S. market averages fell after financials fell. J P Morgan in the latest regulatory filing suggested that losses are likely to increase in the second half of the year. Analyst lowered their views and earnings on Goldman Sachs. Crude oil fell below $113 a barrel, lifting transportation and airlines stocks. AMR, the parent of American Airlines rose after positive comments from a broker.
- 123jump.com Staff
- 12 Aug, 2008
- New York City
U.S. stocks traded lower after one hour of trading. The U.S. trade deficit in June fell 4% to $56.8 billion after shrinking to $59.2 billion in May according to the Commerce Department. Imports in the month rose 1.8% to $221.2 billion of which crude oil and petroleum products accounted for $44.5 billion at a cost of $117.13 a barrel. The trade deficit with Asian countries persisted and gap with China rose to $21.4 billion from $21 billion in May. Fluor Corp and McDermott International fell.
- 123jump.com Staff
- 11 Aug, 2008
- New York City
Investors appear to rotate out of financials, energy complex and mining companies stocks and prefer stocks in retail and transportation sectors. Crude oil dropped as war raged between Russia and Georgia. Retailers advacned in New York and European trading with Amazon.com, Nordstrom, Wal-Mart and Target closing higher. In the UK Marks & Spencer, Next and DSG closed up. Latin American markets fell sharply with Argentina falling nearly 4%.
- 123jump.com Staff
- 11 Aug, 2008
- New York City
Stocks in Shanghai fell 5% and in Hong Kong edged lower as producer price index surges to 10% in July in China. In the morning stocks rose as crude oil prices fell but stocks quickly fell after the release of inflation report. The rising food, energy and raw materials cost dragged market averages lower. Prices of food rose 9% and prices of mined products rose 34% from a year ago. A planned sale of a stake in China Eastern Airlines to Singapore controlled fund to the national carrier fell.
- 123jump.com Staff
- 11 Aug, 2008
- New York City
A fall in crude oil price in the region and higher close in New York on Friday lifted market sentiment in Tokyo. Benchmark index added 2% on active trading. Bankruptcies in Japan rose 13% in July on tighter lending conditions and net properties purchased by real estate trusts fell 50% to 94 in the first half of this year. Hitachi Zosen led advancers with a rise of 12% and Itochu led decliners with a loss of 4%.
- 123jump.com Staff
- 11 Aug, 2008
- New York City
Crude oil edged higher as Russia continues its campaign of bombing in neighboring state Georgia. The heavy response from Russia forced Georgia to seek help from EU and the U.S. and requested a cease fire. Crude oil rose in European trading before the U.S. markets open but most of the gains were pared after the first hour of trading in New York. China trade surplus rose in July. Royal Bank of Scotland placed $8 billion of debt with private equity firms.
- 123jump.com Staff
- 08 Aug, 2008
- New York City
Stocks in Shanghai fell sharply as disppointed investors sold stocks of hotels, travel agencies and airlines. General lack of enthusiam among investors in Shanghai and much hoped for Olympics dividend failed to materialize as Shanghai benchmark fell nearly 5%. China first half budget surplus rose to 1.19 trillion yen as budget revenue surged 33% on higher tax and import duty collection. In earnings, Lenovo Group first quarter earnings rose 65%.