- 123jump.com Staff
- 25 Mar, 2008
- New York City
Tokyo stocks rallied on the back of higher closing in the U.S. in Monday trading. Banks and brokerage stocks led the advancing issues. In Tokyo trading, Nikkei 225 rose 2.12% or 265.13 at 12,745.22, and the broader Topix Index increased 1.5% or 18.83 to 1,242.98. Nippon Glass forecasted 20% rise in sales and 50% surge in operating profit on higher demand in the next fiscal year.
- 123jump.com Staff
- 25 Mar, 2008
- New York City
Stock in Mumbai trading surged after a rally in Asia stocks lifted market averages across the region. Hong Kong and India led the region with a sharp rebound of more than 6%. Realty, banks and technology stocks led the gainers in Mumbai trading. Sensex gained 6.1% or 928.09. At close, the BSE 30 share closed at 16,217.49. Nifty gained 5.1% or 267.65 to close at 4,877.50 levels.
- 123jump.com Staff
- 25 Mar, 2008
- New York City
February consumer confidence index fell to a five-year low as rising fuel and energy prices and falling home values affected consumers. The outlook for the next six months according to index appear to be gloomy. Home prices in February declined 10.7% from January. The two measures left U.S. market averages were lower in the morning trading hours. European markets jumped more than 2.5% and Asian markets rallied. In the overnight rally, India and Hong Kong surged above 6%.
- 123jump.com Staff
- 24 Mar, 2008
- New York City
Nasdaq surge of 3% led the U.S. stock rally. JP Morgan revised its offer to purchase Bear Stearns and agreed to purchase 39.5% of the broker at $10 per share from the previous bid of $2 per share. Existing home sales in February rose 2.9% from February but fell 24% from a year ago. The surprise rise in home sales and revised bid for Bear lifted financial, home builders, and retail stocks. European markets were closed and Brazil and Mexico added 1.9% and 1.5% respectively. Shanghai fell 5%.
- 123jump.com Staff
- 24 Mar, 2008
- New York City
JP Morgan agreed to purchase additional 95 million shares and revised the purchase price to $10 per share. The bank after a near revolt from Bear Stearns shareholder, agreed to lift the bid. JP Morgan will also bear the first $1 billion in losses of the $30 billion guarantee offered by the Federal Reserve Bank. Merger is anticipated to be completed on or before April 8, 2008.
- 123jump.com Staff
- 24 Mar, 2008
- New York City
U.S. stocks rose in the morning trading, extending a two-day rally. JP Morgan lifted its Bear Stearns bid to $10 per share from $2 as Bear Stearns shareholders mounted aggressive campaign to scuttle the deal. Dow, Nasdaq, and S&P 500 jumped 1% in the morning trading. Tiffany soared 13% after it reported better than expected earnings. Walgreen Co earnings jumped 5% on 10% rise in sales.
- 123jump.com Staff
- 20 Mar, 2008
- New York City
Lihir Gold agreed to merge with Equigold to create leading independent gold producer in the world with a market capitalization of $9 billion and 25 million ounces of proven reserves. The comdined company plans to mine 1.2 million ounces of gold in 2009. The merger will exchange 33 Lihir shares for every 25 Equigold stocks.
- 123jump.com Staff
- 20 Mar, 2008
- New York City
European markets were on the decline with gold, silver, oil, and agricultural commodities trading lower. Credit Suisse loss forecast unnerved investors. Credit Suisse blamed fired employees to misprice bonds to hide losses. The string of unforeseen losses at the bank has put the management credibility in question. German state controlled bank IKB received the fourth capital injection to cover 450 million asset write-down. Silver and oil dragged the commodities markets lower.
- 123jump.com Staff
- 20 Mar, 2008
- New York City
U.S. stocks rallied on positive analyst comments covering Fannie Mae and Freddie Mac. KBW analyst suggested that the recent Fed actions and wider latitude in mortgage lending will help the two largest mortgage lenders. Financials, home builders, and brokerage stocks rallied. Dow, Nasdaq and S&P 500 rose above 2%. Credit Suisse surprised estimate in the current quarter loss kept European banks and markets in check. General Motors closed near record low. Visa and MasterCard surge.
- 123jump.com Staff
- 20 Mar, 2008
- New York City
UK retail sales in three months ending in February rose 1% from previous three months and jumped 4.7% from a year ago. The rise in sales was recorded in food stores, non-store retailing and repair services. February current budget surplus rose to
- 123jump.com Staff
- 20 Mar, 2008
- New York City
U.S. stocks edged higher in the morning on continued weakness in crude oil and metals prices. Crude oil, gold, and natural gas fell more than 3% in the morning trading. FedEx reported lower earnings and guided current quarter earnings to decline. Borders Group fell 12% after reporting earnings decline and financing from activist investor Pershing Square. Visa stock rose 6% on the second day of trading.
- 123jump.com Staff
- 20 Mar, 2008
- New York City
Asian markets fell in the region on weak metals and crude oil prices. Gold fell 3%, crude oil declined 2% and copper dropped 4% in the regional trading. The sharp drop in metal prices dragged mining companies in Australia, China, and Hong Kong trading. Japan, Markets in India, Indonesia, Malaysia, Pakistan, and Philippines were closed. China Mobile and PetroChina fell after the release of earnings. BHP and Rio Tinto plunged 7%.
- 123jump.com Staff
- 19 Mar, 2008
- New York City
Stocks in Hong Kong rallied tracking gains in the U.S. Realty and financial stocks led the gainers. Hang Seng added 2.3% to 21,866.94, China Enterprise Index gained 3.3% to 11,438.75, and CSI 300 index increased 3.3% to 3,888.86. China Mobile jumped 3% after it reported full year profit rise of 37% and it added 7 million new subscribers in January. Petro China reported 21% rise in 2007 revenue and earnings gain of 2.4%.
- 123jump.com Staff
- 19 Mar, 2008
- New York City
European stock averages edged lower on weak metal prices and decline in telecom and banking stocks. Sony Ericsson fell after it lowered its profit expectations dragging Nokia lower as well. Deutsche Telekom declined after a similar forecast. Telecom Italia fell on media speculation that the company may have to raise capital. Metals and minig stocks fell on the speculation of demand slack. HBOS, British lender plunged 17% on liquidity rumors.
- 123jump.com Staff
- 19 Mar, 2008
- New York City
A sharp pullback in metals and commodities put stocks on the defensive. Front month futures of crude oil and gold dropped more than 5%, silver lost 8%, and copper declined 3%. Futures of the next month wheat led the agricultural with a decline of 7% followed by losses in Soybean and Cocoa of 6%. Dow, S&P 500, and Nasdaq lost more than 2.3%. Brazil plunged 5% and European markets edged 0.5% lower across the region.